1651 Madison Avenue

1651 Madison Avenue has been categorized by the local assessors in Memphis, TN as a office type of property. The building on the property was first built in 1905 and is 119 years old. However, we must point out that the home was most recently renovated and altered in 1980. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 1651 Madison Avenue has 1,726 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 1,545 ft and across the front of the lot is 500 ft. The area measurement of the land has been determined as 7,700 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 4 code building. This code stands for "buildings that have wood or wood and steel frames.". Residents will have the luxury of enjoying 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 wood control joints. From what we've gathered, the quality of these control joints have been graded with a letter grade of C by the local assessor. The exterior walls of the building are made of asbestos shingle. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a heating system and being fueled with gas. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Based on our sources, 1651 Madison Avenue was last sold in Oct 16, 2009 for $85,000. According to our calculations, that's $49.25 per sqft. Current property owners are expected to pay $2,719 in taxes per year. Interestingly enough, the initial year of tax delinquency occurred in 2022. The property on 1651 Madison Avenue was last assessed in 2022. As a result of that assessment, the total value of the property was placed at $44,640. To break that down further, the land itself was valued at $26,200. While improvements to the property were assessed at a total of $18,440. Based on our records, the total assessed value for this property has been marked as less than the total market value as of this moment. Which is great for tax purposes. 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.This property is not listed for sale at this point in time but RealtyHop is constantly updating our inventory of available sales listings in real time. Don't want to miss out on this property? You can save the listing to your favorites by signing up for a RealtyHop account or you can check back frequently for updates.