2703 East Somerset Street

2703 East Somerset Street has been categorized by the local assessors in Philadelphia, PA as a residential type of property. The building on the property was first built in 1925 and is 99 years old. The building has a total of 3 stories. In addition, 2703 East Somerset Street has 1,976 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 620 ft and across the front of the lot is 180 ft. The area measurement of the land has been determined as 1,116 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a townhouse 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. Moving on to the building itself. The condition of the building has been evaluated as good. 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 stone 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 rock and stone. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a hot water heating system. 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, 2703 East Somerset Street sold most recently in May 26, 2021 for a total of $414,250. If you work out the math, that's approximately a cost of $209.64 per sqft. Before that, the property was also sold for $203,500 in Dec 13, 2017. 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 $4,061 in taxes each year. 2703 East Somerset Street was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $370,100. If we break it down further, the land itself was valued at $74,020. Improvements to the property, however, were assessed at a total of $296,080. The property's total market value has been marked the same as the total assessed value which is pretty typical. Are you already in the process of closing on a property and have signed a purchase agreement? You may want to consider locking in your current mortgage rate if interest rates have been rising or seem volatile. This is what's known in the market as a mortgage rate lock (aka rate protection). However, be sure to evaluate your situation carefully before you do so. There may be certain costs associated with taking this action and you'll want to time the start of your perfectly!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.