1350 Monroe Avenue

1350 Monroe Avenue in Memphis, TN was first built in 1905 and is 119 years old. Although, the building on the property was most recently renovated and altered in 1976. This has been categorized as a office property type. It is a single story home. 1350 Monroe Avenue has 4,994 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. The linear feet across the front of the lot is 1,380 ft and the linear feet between the front and back of the lot is 796. In total, the area measurement of the land is 4,577 square feet.

Learn more about the property and building on this page. The building type has been coded as 4. The code stands for buildings that have wood or wood and steel frames.. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with wood control joints. The quality of the control joints have been graded by the local assessor with a letter grade of C. The condition of the building has been evaluated as average. The exterior walls of the home are made of masonry. Walk into the home itself and you'll find that it is currently being cooled with central air conditioning. As for heating, the home is utilizing a heating system and being fueled with gas. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 1350 Monroe Avenue sold most recently in Nov 29, 2018 for a total of $200,000. If you work out the math, that's approximately a cost of $40.05 per sqft. Before that, the property was also sold for $30,000 in Jan 11, 2005. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $2,946 in taxes each year. The initial year of tax delinquency occurred in 2019. 1350 Monroe Avenue was most recently assessed in 2022. During this assessment, the property's total value was estimated to be about $48,360. If we break it down further, the land itself was valued at $30,800. Improvements to the property, however, were assessed at a total of $17,560. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. 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.