405 1st Avenue Southwest

405 1st Avenue Southwest has been categorized by the local assessors in Cedar Rapids, IA as a industrial type of property. The building on the property was first built in 1940 and is 84 years old. This is a single story building so stairs are not necessary to access other parts of the home. The area measurement of the land has been determined as 7,841 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. Moving on to the building itself. The condition of the building has been evaluated as good. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Current property owners are expected to pay $6,352 in taxes per year. The property on 405 1st Avenue Southwest was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $238,500. To break that down further, the land itself was valued at $45,600. While improvements to the property were assessed at a total of $192,900. Based on our records, the total market value for this property has been marked the same as the total assessed value as of this moment. Which is nothing out of the ordinary. 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.