2861 Lamar Avenue

2861 Lamar Avenue in Memphis, TN was first built in 1940 and is 84 years old. This has been categorized as a commercial property type. It is a single story home. 2861 Lamar Avenue has 6,824 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. In total, the area measurement of the land is 34,282 square feet.

Learn more about the property and building on this page. The building type has been coded as 2. The code stands for buildings that have fireproofed reinforced concrete frames carrying all wall, floor and roof loads which are all non-combustible.. There is a unknown. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with frame control joints. The quality of the control joints have been graded by the local assessor with a letter grade of C. The condition of the building has been evaluated as poor. The exterior walls of the home are made of concrete block. Walk into the home itself and you'll find that it is currently being cooled with central air conditioning. As for heating, the home is utilizing a heating system and being fueled with gas. The property was last sold in Jul 20, 2023 for $58,100. That's $8.51 per sqft. Prior to that sales transaction, the property was also sold in Mar 8, 2007 for $75,000. 2861 Lamar Avenue was last assessed in 2022. The total value of the property was assessed at $94,640. Specifically, the land the property is located on was valued at $37,400. While improvements on the property were assessed at a total of $57,240. The total assessed value for this property is less than the total market value as of this moment. Which is great for tax purposes. The total amount of taxes due from a property owner is $5,765. The initial tax year of delinquency was in 2019. 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. Unfortunately, this property is not currently listed for sale but our inventory of available properties is constantly updating in real time. Check back frequently for updates.