1517 Southeast 47th Terrace

1517 Southeast 47th Terrace has been categorized by the local assessors in Cape Coral, FL as a commercial type of property. The building on the property was first built in 1968 and is 56 years old. However, we must point out that the home was most recently renovated and altered in 1980. Residents will have access to 6 full bathrooms. There are 6 partial bathrooms in the home. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 1517 Southeast 47th Terrace has 4,200 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The linear feet between the front and back of the lot is 1,450 ft and across the front of the lot is 1,000 ft. The area measurement of the land has been determined as 14,551 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 3 code building. This code stands for "buildings that have exterior walls made of non-combustible material. The interior partitions and roof structure are combustible materials. For example, the building may have concrete floors or a wood frame". Residents will have the luxury of enjoying both a unknown and a unknown. 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 A by the local assessor. The building has a gambrel style roof made of asphalt and ply sheets in a built-up roof style. The exterior walls of the building are made of concrete block. While the interior walls have been made of gypsum boards such as those made of drywall, sheetrock, etc. As for the floors, you'll see that the home has flooring throughout. The inside of the home is being cooled with a packaged air conditioning unit at the moment. In terms of heating, it is utilizing a forced air unit and being fueled with electricity. 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, 1517 Southeast 47th Terrace sold most recently in Jan 3, 2022 for a total of $350,000. If you work out the math, that's approximately a cost of $74.96 per sqft. Before that, the property was also sold for $400,000 in Oct 27, 2017. 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 $6,416 in taxes each year. 1517 Southeast 47th Terrace was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $308,249. If we break it down further, the land itself was valued at $74,718. Improvements to the property, however, were assessed at a total of $221,822. 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.