487 New London Road

Local assessors in Salem, CT have categorized 487 New London Road as a residential type of property. The home was built in 1967 and is 57 years old. The property's lot size has been calculated to be 41,382 square feet. Sharp-eyed aficionados of architecture will notice that the home on the property was built in a raised ranch style. Now, let's dive a bit deeper into the details surrounding the home on the property. There are 6 rooms in the home. Of these, 3 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 3 partial bathrooms. This is a single story home so it's perfect for folks who don't want to have to climb stairs on a daily basis. If we look only at the heated or air conditioned part of the building, then 487 New London Road has a total of 1,280 sqft of living area. Note that this number does not include the square footage of the garage, basement, and/or porch into its calculations. There is a full basement that is 1,280 sqft. Perfect for those looking for additional storage or living space such as a recreational room, additional bedroom, etc.

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. Additional features on the property are as follows. There is a garage underground or in the basement for those who need a place to park their vehicle. Moving onto specific details regarding the building. Our sources show that the building condition is average. The building has a gable style roof that was made of asphalt. Lots of alum/vinyl siding were used in the construction of the exterior walls of the home. The home's a hot water heating system is the primary heating source and it is being fueled with oil. There is a single fireplace in the home which may result in additional cleaning fees for the homeowner. 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, 487 New London Road was last sold in Jan 1, 1970 for $172,000. According to our calculations, that's $134.38 per sqft. Prior to that sales transaction, the property was sold for $162,000 in Jan 1, 1970. Current property owners are expected to pay $3,960 in taxes per year. Interestingly enough, the initial year of tax delinquency occurred in 2020. The property on 487 New London Road was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $137,500. To break that down further, the land itself was valued at $39,900. While improvements to the property were assessed at a total of $97,600. Based on our records, the total assessed value for this property has been marked as more than the total market value as of this moment. Which is pretty atypical. 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.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.