2431 Monroe Avenue

2431 Monroe Avenue 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 1948 and is 76 years old. The home has a total of 6 rooms. 3 of these rooms are legally considered as bedrooms. Residents will have access to 2 full bathrooms. There are 2 partial bathrooms in the home. The building has a total of 1 stories. In addition, 2431 Monroe Avenue has 2,695 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 1,340 ft and across the front of the lot is 750 ft. The area measurement of the land has been determined as 10,636 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. For the features and amenities located on the property. There is a detached garage for those who require parking. The garage measured 483 sqft. 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. 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 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 and being fueled with gas. There is a single fireplace in the home. Perfect for those wintery nights. 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, 2431 Monroe Avenue sold most recently in Oct 25, 2019 for a total of $261,500. If you work out the math, that's approximately a cost of $97.03 per sqft. Before that, the property was also sold for $185,000 in Jul 19, 2004. 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 $4,080 in taxes each year. 2431 Monroe Avenue was most recently assessed in 2022. During this assessment, the property's total value was estimated to be about $66,975. If we break it down further, the land itself was valued at $15,175. Improvements to the property, however, were assessed at a total of $51,800. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. 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.