1516 Main Street

Local assessors in Elwood, IN have categorized 1516 Main Street as a residential type of property. The home was built in 1895 and is 129 years old. The property's lot size has been calculated to be 6,970 square feet. This is a 2 story home so residents will need to have climb at least one set of stairs on a daily basis. If we look only at the heated or air conditioned part of the building, then 1516 Main Street has a total of 4,907 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. 1516 Main Street is a 4 code building. This code stands for "buildings that have wood or wood and steel frames.". The home sources its water from a water system. 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 wood 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-. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. Before that, the property was also sold for $43,800 in Jul 6, 2005. There could be many factors that caused the property to sell at a lower price and decrease in value. Tax-wise, the current owner is expected to pay close to $2,343 in taxes each year. 1516 Main Street was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $79,700. If we break it down further, the land itself was valued at $6,400. Improvements to the property, however, were assessed at a total of $73,300. The property's total market value has been marked the same as the total assessed value which is pretty typical. 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.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.