1071 Lorraine Street

1071 Lorraine Street has been categorized by the local assessors in Memphis, TN as a residential type of property. The building on the property was first built in 1952 and is 72 years old. However, we must point out that the home was most recently renovated and altered in 1974. The home has a total of 7 rooms. 4 of these rooms are legally considered as bedrooms. Residents will have access to 2 full bathrooms. There are 2 partial bathrooms in the home. The building has a total of 2 stories. In addition, 1071 Lorraine Street has 1,400 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The linear feet between the front and back of the lot is 1,060 ft and across the front of the lot is 1,000 ft. The area measurement of the land has been determined as 10,310 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a traditional style.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. For the features and amenities located on the property. There is a carport for those who require parking. The garage measured 250 sqft. According to our sources, there is one available parking space. Residents will have the luxury of enjoying a unknown. Moving on to the building itself. The condition of the building has been evaluated as average. From what we've gathered, the quality of these control joints have been graded with a letter grade of D by the local assessor. The building has a gable style roof made of composition shingle. The exterior walls of the building are made of brick veneer. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a central heating system and being fueled with gas. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Based on our sources, 1071 Lorraine Street was last sold in Dec 27, 2018 for $90,000. According to our calculations, that's $64.29 per sqft. Prior to that sales transaction, the property was sold for $72,000 in Mar 9, 2017. Current property owners are expected to pay $1,540 in taxes per year. Interestingly enough, the initial year of tax delinquency occurred in 2022. The property on 1071 Lorraine Street was last assessed in 2022. As a result of that assessment, the total value of the property was placed at $25,275. To break that down further, the land itself was valued at $2,175. While improvements to the property were assessed at a total of $23,100. Based on our records, the total assessed value for this property has been marked as less than the total market value as of this moment. Which is great for tax purposes. Are you already in the process of closing on a property and have signed a purchase agreement? You may want to consider locking in your current mortgage rate if interest rates have been rising or seem volatile. This is what's known in the market as a mortgage rate lock (aka rate protection). However, be sure to evaluate your situation carefully before you do so. There may be certain costs associated with taking this action and you'll want to time the start of your perfectly!This property is not listed for sale at this point in time but RealtyHop is constantly updating our inventory of available sales listings in real time. Don't want to miss out on this property? You can save the listing to your favorites by signing up for a RealtyHop account or you can check back frequently for updates.