1977 Prospect Street

1977 Prospect Street has been categorized by the local assessors in Memphis, TN as a residential type of property. The building on the property was first built in 1940 and is 84 years old. However, we must point out that the home was most recently renovated and altered in 2005. The home has a total of 6 rooms. 2 of these rooms are legally considered as bedrooms. Residents will have access to one full bathroom. There is one partial bathroom in the home. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 1977 Prospect Street has 1,351 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 2,600 ft and across the front of the lot is 500 ft. The area measurement of the land has been determined as 13,000 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a traditional 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. Residents will have the luxury of enjoying a unknown. Moving on to the building itself. The condition of the building has been evaluated as fair. From what we've gathered, the quality of these control joints have been graded with a letter grade of D by the local assessor. The building has a gable style roof made of composition shingle. The exterior walls of the building are made of brick veneer. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a central heating system. 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, 1977 Prospect Street was last sold in Oct 25, 2021 for $100,000. According to our calculations, that's $74.02 per sqft. Prior to that sales transaction, the property was sold for $15,000 in Aug 29, 2019. Current property owners are expected to pay $1,354 in taxes per year. Interestingly enough, the initial year of tax delinquency occurred in 2020. The property on 1977 Prospect Street was last assessed in 2022. As a result of that assessment, the total value of the property was placed at $22,225. To break that down further, the land itself was valued at $1,000. While improvements to the property were assessed at a total of $21,225. 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. Remember, the purchasing price for your future home is not the costs you'll incur during the purchasing process. That's why it's important to save as much as possible and presumbly above the 20% minimum you may need to put down as down payment. You will want these additional savings to cover closing costs such as attorney fees, homeowner's insurance, title search fees, origination fees, and more. Thankfully, sellers may sometimes offer to cover certain costs as seller concessions to the buyer. Just keep in mind that sellers have their own fees to pay as well.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.