502 Park Avenue

502 Park Avenue has been categorized by the local assessors in Omaha, NE as a commercial type of property. The building on the property was first built in 1953 and is 71 years old. The building has a total of 2 stories. In addition, 502 Park Avenue has 12,555 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. Those looking for additional storage or space will be happy to hear that there is a finished improved basement that is 2,343 sqft. Please note, that typically the basement, garage, and or porch square footage is not included in the calculations of the living area square footage. The linear feet between the front and back of the lot is 1,400 ft and across the front of the lot is 1,260 ft. The area measurement of the land has been determined as 17,640 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a high-rise style.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. Residents will have the luxury of enjoying a unknown. Moving on to the building itself. The condition of the building has been evaluated as unknown. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with frame control joints. From what we've gathered, the quality of these control joints have been graded with a letter grade of C by the local assessor. The building has a flat style roof made of asphalt and ply sheets in a built-up roof style. The exterior walls of the building are made of brick. While the interior walls have been made of gypsum boards such as those made of drywall, sheetrock, etc. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a forced air unit. The property was last sold in Oct 17, 2017 for $864,000. That's $68.82 per sqft. 502 Park Avenue was last assessed in 2023. The total value of the property was assessed at $223,900. Specifically, the land the property is located on was valued at $61,000. While improvements on the property were assessed at a total of $162,900. 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 $15,868. 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. 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.