501 Lanier Drive

501 Lanier Drive in Madison, TN was first built in 1954 and is 70 years old. This has been categorized as a residential property type. There are a total of 2 floors. There are a total of 7 rooms in the home, of which, 3 are bedrooms. In terms of bathrooms, there are a total of 2 full bathrooms. There are 2 partial bathrooms. 501 Lanier Drive has 1,938 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. The linear feet across the front of the lot is 740 ft and the linear feet between the front and back of the lot is 2,060. In total, the area measurement of the land is 14,375 square feet.

Learn more about the property and building on this page. There is a open porch and a patio. The roof of the home is made of materials that we aren't sure of. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with frame control joints. The quality of the control joints have been graded by the local assessor with a letter grade of C. The condition of the building has been evaluated as average. Walk into the home itself and you'll find that it is currently being cooled with central air conditioning. As for heating, the home is utilizing a central heating system. There is a fireplace in the home! Just imagine how amazing it would be to curl up in front of a cozy fireplace during those chilly winter nights. 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, 501 Lanier Drive was last sold in Sep 30, 2020 for $209,000. According to our calculations, that's $107.84 per sqft. Prior to that sales transaction, the property was sold for $168,550 in Jun 19, 2020. Current property owners are expected to pay $1,776 in taxes per year. The property on 501 Lanier Drive was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $54,575. To break that down further, the land itself was valued at $15,000. While improvements to the property were assessed at a total of $39,575. Based on our records, the total assessed value for this property has been marked as less than the total market value as of this moment. Which is great for tax purposes. 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.