1507 Cornwall Lane

1507 Cornwall Lane has been categorized by the local assessors in Newport Beach, CA as a residential type of property. The building on the property was first built in 1965 and is 59 years old. The home has a total of 5 rooms. 2 of these rooms are legally considered as bedrooms. Residents will have access to 2 full bathrooms. There are 3 partial bathrooms in the home. The building has a total of 2 stories. In addition, 1507 Cornwall Lane has 1,368 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. Fans of architecture and design would be interested in knowing that the building on the property was built in a condo 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. In terms of heating, it is utilizing a heating system. 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, 1507 Cornwall Lane sold most recently in Nov 7, 2019 for a total of $700,000. If you work out the math, that's approximately a cost of $511.70 per sqft. Before that, the property was also sold for $575,000 in Jul 1, 2013. 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 $8,089 in taxes each year. 1507 Cornwall Lane was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $735,824. If we break it down further, the land itself was valued at $647,827. Improvements to the property, however, were assessed at a total of $87,997. The property's total assessed value has been marked as more than the total market value which is pretty atypical. 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.