3900 Lake Drive

Local assessors in Minneapolis, MN have categorized 3900 Lake Drive as a commercial type of property. The home was built in 1953 and is 71 years old. It was most recently renovated and altered in 1970. The property's lot size has been calculated to be 8,276 square feet.

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. 3900 Lake Drive is a 3 code building. This code stands for "buildings that have exterior walls made of non-combustible material. The interior partitions and roof structure are combustible materials. For example, the building may have concrete floors or a wood frame". It might sound scary but did you know that buildings can move depending on the weather? Both hot and cold weather can have severe impact on the longevity of your home structure depending on how much your home moves. Hence why architects pay a lot of attention to the type of control joints used in the construction process. Just so you know, this home was built with concrete block control joints. As for flooring, was the material of choice during construction. Residents rely on no air conditioning for their cooling system. The home's a space/suspended heating system is the primary heating source. The property was last sold in Jun 30, 2020 for $350,000. 3900 Lake Drive was last assessed in 2022. The total value of the property was assessed at $346,000. Specifically, the land the property is located on was valued at $66,000. While improvements on the property were assessed at a total of $280,000. The total market value for this property is the same as the total assessed value as of this moment. The total amount of taxes due from a property owner is $10,299. 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.