1403 Michigan Street

1403 Michigan Street has been categorized by the local assessors in Hammond, IN as a commercial type of property. The building on the property was first built in 1950 and is 74 years old. However, we must point out that the home was most recently renovated and altered in 1990. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 1403 Michigan Street has 2,012 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 9,365 square feet.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. We know that this is 4 code building. This code stands for "buildings that have wood or wood and steel frames.". Moving on to the building itself. The condition of the building has been evaluated as average. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with masonry control joints. From what we've gathered, the quality of these control joints have been graded with a letter grade of C by the local assessor. The exterior walls of the building are made of concrete block. In terms of heating, the home is utilizing gas. Finally, the property is currently sourcing its water from a municipal system. It is connected to a municipal sewage system. Which is great for homeowners who don't want to worry about the responsibilities of handling a septic tank. Though, you may accrue additional fees to have your wastewater disposed. 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, 1403 Michigan Street was last sold in Sep 15, 2021 for $118,800. According to our calculations, that's $59.05 per sqft. Current property owners are expected to pay $5,332 in taxes per year. The property on 1403 Michigan Street was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $146,500. To break that down further, the land itself was valued at $25,900. While improvements to the property were assessed at a total of $120,600. Based on our records, the total market value for this property has been marked the same as the total assessed value as of this moment. Which is nothing out of the ordinary. As you can see, there are a lot of things to consider when purchasing a home. For example, have you evaluated your own Debt-To-Income ratio (DTI) and understood how this may impact the number of loan options you have access to? Don't worry, we'll cover the basics such as what a DTI ratio is, how to calculate yours, what most lenders consider to be an ideal ratio, and also provide our tips on how you can improve your score if it is on the higher side.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.