1127 North Institute Street

Local assessors in Colorado Springs, CO have categorized 1127 North Institute Street as a exempt type of property. The home was built in 1954 and is 70 years old. The property's lot size has been calculated to be 6,600 square feet. Sharp-eyed aficionados of architecture will notice that the home on the property was built in a ranch/rambler style. Now, let's dive a bit deeper into the details surrounding the home on the property. There are 4 rooms in the home. Of these, 2 have been legally categorized as bedrooms. For more details, please view your local government regulations on what counts as a legal bedroom. As for the restroom situation, there is one full bathroom. There is also a partial bathroom. This is a single story home so it's perfect for folks who don't want to have to climb stairs on a daily basis. If we look only at the heated or air conditioned part of the building, then 1127 North Institute Street has a total of 894 sqft of living area. Note that this number does not include the square footage of the garage, basement, and/or porch into its calculations.

Curious to learn more about the home? Our team of data engineers have sourced the most up-to-date information from the local assessors office to share with you. Additional features on the property are as follows. There is a detached garage for those who need a place to park their vehicle. The garage on the property is 324 sqft. There is only one available parking space, so if you need more, you may need to find some alternatives. Do you like to entertain? The home has both a covered porch and a patio so you'll have great options in both the front and back of the home. It might sound scary but did you know that buildings can move depending on the weather? Both hot and cold weather can have severe impact on the longevity of your home structure depending on how much your home moves. Hence why architects pay a lot of attention to the type of control joints used in the construction process. Just so you know, this home was built with frame control joints. Not only do we know the type, but we also know that the assessors have graded the quality of these control joints with a letter grade - C. The building has a gable or hip style roof that was made of composition shingle. Lots of stucco were used in the construction of the exterior walls of the home. While the walls in the interior have been made of gypsum boards such as those made of drywall, sheetrock, etc. Residents rely on air conditioning for their cooling system. The home's a forced air unit is the primary heating source. 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, 1127 North Institute Street was last sold in Aug 30, 2017 for $220,000. According to our calculations, that's $246.09 per sqft. Prior to that sales transaction, the property was sold for $145,000 in Aug 30, 2002. Current property owners are expected to pay $0 in taxes per year. Interestingly enough, the initial year of tax delinquency occurred in 2017. The property on 1127 North Institute Street was last assessed in 2022. 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. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well.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.