3507 Rainbow Place

Local assessors in Nashville, TN have categorized 3507 Rainbow Place as a residential type of property. The home was built in 1950 and is 74 years old. The property's lot size has been calculated to be 13,939 square feet. The linear feet between the front and back of the lot was measured at 1,910 ft and the front of the lot was measured at 750 ft. Now, let's dive a bit deeper into the details surrounding the home on the property. There are 8 rooms in the home. Of these, 4 have been legally categorized as bedrooms. For more details, please view your local government regulations on what counts as a legal bedroom. As for the restroom situation, there are 2 full bathrooms. There are also 2 partial bathrooms. This is a 2 story home so residents will need to have climb at least one set of stairs on a daily basis. If we look only at the heated or air conditioned part of the building, then 3507 Rainbow Place has a total of 2,731 sqft of living area. Note that this number does not include the square footage of the garage, basement, and/or porch into its calculations.

Curious to learn more about the home? Our team of data engineers have sourced the most up-to-date information from the local assessors office to share with you. Do you like to entertain? The home has a patio so you'll have a great option in the back of the home. Moving onto specific details regarding the building. Our sources show that the building condition is average. Not only do we know the type, but we also know that the assessors have graded the quality of these control joints with a letter grade - C. The building has a roof that is made of materials that we aren't sure of. Lots of brick were used in the construction of the exterior walls of the home. Residents rely on central air conditioning for their cooling system. The home's a central heating system is the primary heating source. There is a single fireplace in the home which may result in additional cleaning fees for the homeowner. 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, 3507 Rainbow Place sold most recently in Dec 14, 2021 for a total of $865,000. If you work out the math, that's approximately a cost of $316.73 per sqft. Before that, the property was also sold for $450,000 in Jan 3, 2008. 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 $6,250 in taxes each year. 3507 Rainbow Place was most recently assessed in 2022. During this assessment, the property's total value was estimated to be about $165,000. If we break it down further, the land itself was valued at $70,000. Improvements to the property, however, were assessed at a total of $95,000. 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.