405 West 7th Street

Local assessors in Richmond, VA have categorized 405 West 7th Street as a vacant type of property. The property's lot size has been calculated to be 1,098 square feet. The linear feet between the front and back of the lot was measured at 550 ft and the front of the lot was measured at 200 ft.

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. 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 $1,800 in taxes per year. The property on 405 West 7th Street was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $150,000. To break that down further, the land itself was valued at $150,000. 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.