Check Availability

501 Wallace Avenue

501 Wallace Avenue, Louisville, KY 40207
Property in East Louisville
Sold Sep 11, 2019
$245,000
$305,000 by Park Community Credit Union
Mortgage Due Jan 25, 2024
Sold Jul 29, 2019
$225,000
$225,000 by Chirstopher J Garmston Etal
Mortgage Due Jul 29, 2029
501 Wallace Avenue in Louisville, KY was first built in 1939 and is 85 years old. This has been categorized as a residential property type. For those interested in architecture, the building on the property was built in a conventional style. There are a total of 2 floors. There are a total of 0 rooms in the home, of which, 2 are bedrooms. In terms of bathrooms, there are a total of 2 full bathrooms. There are 2 partial bathrooms. 501 Wallace Avenue has 1,890 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 basement is 945 sqft and has been categorized as a full basement. The linear feet across the front of the lot is 500 ft and the linear feet between the front and back of the lot is 1,284. In total, the area measurement of the land is 6,573 square feet.

Learn more about the property and building on this page. There is a patio. The home has a gable style roof made of composition shingle. 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 wood control joints. The quality of the control joints have been graded by the local assessor with a letter grade of D+. The condition of the building has been evaluated as average. The exterior walls of the home are made of brick veneer. Walk inside and you'll find flooring throughout the home. 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. The property was last sold in Sep 10, 2019 for $245,000. That's $129.63 per sqft. Prior to that sales transaction, the property was also sold in Jul 29, 2019 for $225,000. 501 Wallace Avenue was last assessed in 2023. The total value of the property was assessed at $245,000. Specifically, the land the property is located on was valued at $68,900. While improvements on the property were assessed at a total of $176,100. 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 $2,813. If you're currently on the market shopping for a loan, then you've most likely encountered the two terms "interest rate" and "annual percentage rate (aka APR)". But do you know the difference between the two? Typically, APRS are higher than interest rates because they include most additional fees and one-time costs. As a result, it's important to look at both and if you notice that your APR is significantly higher, that might mean that too many additional fees are being charged. 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.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 1939
  • Effective Year Built: 1939
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: Average
  • Building Quality: D+
  • Construction Type: Wood
  • Building Style: Conventional
  • Exterior Walls Type: Brick veneer
  • Roof Shape Type: Gable
  • Roof Cover Type: Composition shingle
  • Floor Count: 2
  • Floor Cover: Covered
  • Basement Type: Full basement
  • Basement Area: 945
  • Parking Space Count: 0
  • Patio Type: Patio

    Dimensions

  • Lot Size Square Feet: 6,573
  • Lot Size Depth Feet: 1,284
  • Lot Size Frontage Feet: 500
  • Total Building Area: 1,890
  • Building Area: 1,890
  • Building Area Measurement: Finished Area

    Heating and Cooling

  • Air Conditioning: Central air conditioning
  • Heating: Central heating
  • Heated Square Feet: 1,890
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: unknown
  • Water Service: unknown

Building

  • Property Class: Residential
  • Subdivision: BRECKENRIDGE VILLA
  • Land Acres: 0.151
  • Standard Land Use Code: Duplex (2 units, any combination)
  • County Land Use Code: Business personal property general
  • Legal Description 1: LOT 8 BLK M BRECK VILLA UNIT 3, PB. 6 PG. 51, .1509 AC+/-, 50 X 128.44

Ownership

  • Current Owner : 3105 HUNSINGER LLC
  • Previous Owner : DG & JO GROUP LLC
  • Owner Before Previous Owner: GARMSTON CHRISTOPHER J
  • Owner Before Previous Owner 2: GARMSTON HEATHER
  • Ownership Rights Codes: Company/Corporation
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Jefferson County School District
  • Census Tract: 007800

Zoning

  • Zoning: R4-RESIDEN

Geography

  • Account Number: 00061358
  • District: 171026
  • Parcel: 22041500200000
  • Block: M
  • Lot: 8
  • Municipality: ST MATTHEWS
  • Latitude: 38.2505
  • Longitude: -85.6557

    Address

  • Full Address: 501 Wallace Ave
  • Legal Unit: 3
  • Address - House Number: 501
  • Address - Street Name: Wallace
  • Address - Suffix Type: Ave
  • State: KY
  • City Name: Louisville
  • Carrier Code: C036
  • 4-Digit Zip Code: 3768
  • Zip Code: 40207

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $2,813
  • Tax Rate Code Area: 26

    Appraisal Valuation

  • Standard Deviation: 0.2033
  • Valuation Date: Jan 10, 2024
  • Confidence Score: 72
  • Final Value: 327,501
  • High Value: 394,089
  • Low Value: 260,913

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $305,000
  • First Open Lien Mortgage Lender: PARK COMMUNITY CREDIT UNION
  • First Open Lien Mortgage Recording Date: Jan 24, 2022
  • First Open Lien Mortgage Loan Amount: $305,000
  • First Open Lien Mortgage Term: 24
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: Credit Line (Revolving)
  • First Open Lien Mortgage Loan Due Date: Jan 25, 2024

    Market Valuation

  • Market Total Value: $245,000
  • Market Land Value: $68,900
  • Market Improvement Value: $176,100

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $245,000
  • Assessed Land Value: $68,900
  • Assessed Improvements Value: $176,100

    Sales

  • Current Sale Contract Date: Sep 10, 2019
  • Current Sale Recording Date: Sep 11, 2019
  • Current Sale Transaction ID: 11644049592
  • Current Sale Price: $245,000
  • Current Sale Document Type: Warranty Deed
  • Current Sale Input Document Number: 2019211558
  • Previous Sale Recording Date: Jul 29, 2019
  • Previous Sale Contract Date: Jul 29, 2019
  • Previous Sale Amount: $225,000
  • Previous Sale Document Type: Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: PARK COMMUNITY FCU
  • First Mortgage Transaction Date: Sep 11, 2019
  • First Mortgage Loan Amount: $208,250
  • First Mortgage Terms: 180
  • First Mortgage Loan Due Date: Sep 10, 2034

    Financing

  • First Mortgage Financing Type: Variable

    Previous Mortgages

  • Previous Mortgage Lender: CHIRSTOPHER J GARMSTON ETAL
  • Previous Mortgage Transaction Date: Jul 29, 2019
  • Previous Mortgage Loan Amount: $225,000
  • Previous Mortgage Term: 120
  • Previous Mortgage Loan Due Date: Jul 29, 2029

About East Louisville



Similar Buildings

Currently no similar buildings around

Nearby Rentals

Unit for rent at 124 Cannons Lane, Louisville, KY, 40206

$1,999 /mo

  • 3 Beds
  • 2 Baths
  • 1,350 ft²
124 Cannons Lane #124 Cannons Lane, Louisville, KY, 40206 Listing by Manager

Frequently Asked Questions

What neighborhood is 501 Wallace Avenue located in?
The 501 Wallace Avenue is a located in the neighborhood of East Louisville in East Louisville, Louisville.
What is the average sales price for listings in 501 Wallace Avenue?
The average sales price for units in 501 Wallace Avenue is $0 currently.

Quantcast