1501 North 5th Street

1501 North 5th Street has been categorized by the local assessors in Mankato, MN as a residential type of property. The building on the property was first built in 1950 and is 74 years old. The home has a total of 8 rooms. 3 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, 1501 North 5th Street has 1,516 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. Those looking for additional storage or space will be happy to hear that there is a full basement that is 892 sqft. Please note, that typically the basement, garage, and or porch square footage is not included in the calculations of the living area square footage. The linear feet between the front and back of the lot is 1,000 ft and across the front of the lot is 600 ft. The area measurement of the land has been determined as 6,000 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a Cape Cod 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 detached garage for those who require parking. The garage measured 216 sqft. According to our sources, there is one available parking space. Residents will have the luxury of enjoying both a unknown and a patio. 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 metal control joints. The building has a gable style roof made of shingle (not wood). The exterior walls of the building are made of metal. While the interior walls have been made of plaster. As for the floors, you'll see that the home has flooring throughout. The inside of the home is being cooled with air conditioning at the moment. In terms of heating, it is utilizing a forced air unit. 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, 1501 North 5th Street sold most recently in Apr 10, 2008 for a total of $133,000. If you work out the math, that's approximately a cost of $87.73 per sqft. 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 $2,232 in taxes each year. 1501 North 5th Street was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $199,400. If we break it down further, the land itself was valued at $30,600. Improvements to the property, however, were assessed at a total of $168,800. The property's total market value has been marked the same as the total assessed value which is pretty typical. 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.