2996 Chelsea Avenue

2996 Chelsea Avenue 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 1953 and is 71 years old. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 2996 Chelsea Avenue has 1,104 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 10,018 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 no 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, 2996 Chelsea Avenue was last sold in May 11, 2020 for $15,000. According to our calculations, that's $13.59 per sqft. Current property owners are expected to pay $390 in taxes per year. The property on 2996 Chelsea Avenue was last assessed in 2022. As a result of that assessment, the total value of the property was placed at $6,400. To break that down further, the land itself was valued at $1,880. While improvements to the property were assessed at a total of $4,520. 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. 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!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.