2900 Park Lane

2900 Park Lane has been categorized by the local assessors in Memphis, TN as a commercial type of property. The building on the property was first built in 1935 and is 89 years old. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 2900 Park Lane 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 area measurement of the land has been determined as 27,042 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.". Moving on to the building itself. The condition of the building has been evaluated as poor. 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 E by the local assessor. The exterior walls of the building are made of concrete block. The inside of the home is being cooled with no 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, 2900 Park Lane was last sold in Feb 3, 2004 for $80,000. According to our calculations, that's $40.49 per sqft. Current property owners are expected to pay $2,191 in taxes per year. Interestingly enough, the initial year of tax delinquency occurred in 2021. The property on 2900 Park Lane was last assessed in 2022. As a result of that assessment, the total value of the property was placed at $35,960. To break that down further, the land itself was valued at $20,120. While improvements to the property were assessed at a total of $15,840. 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.