150 Madison Avenue

Local assessors in Memphis, TN have categorized 150 Madison Avenue as a commercial type of property. The home was built in 1923 and is 101 years old. The property's lot size has been calculated to be 1,680 square feet. The linear feet between the front and back of the lot was measured at 800 ft and the front of the lot was measured at 210 ft. 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 150 Madison Avenue has a total of 5,205 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. 150 Madison Avenue is a 2 code building. This code stands for "buildings that have fireproofed reinforced concrete frames carrying all wall, floor and roof loads which are all non-combustible.". Do you like to entertain? The home has a unknown so you'll have a great option in the front of the home. Moving onto specific details regarding the building. Our sources show that the building condition is average. 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. Lots of brick were used in the construction of the exterior walls of the home. Residents rely on central air conditioning for their cooling system. The home's a heating system is the primary heating source and it is 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, 150 Madison Avenue sold most recently in Nov 20, 2018 for a total of $600,000. If you work out the math, that's approximately a cost of $115.27 per sqft. Before that, the property was also sold for $150,000 in Sep 22, 2003. 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 $4,130 in taxes each year. 150 Madison Avenue was most recently assessed in 2022. During this assessment, the property's total value was estimated to be about $67,800. If we break it down further, the land itself was valued at $20,440. Improvements to the property, however, were assessed at a total of $47,360. 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.Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.