505 South Reese Street

505 South Reese Street has been categorized by the local assessors in Memphis, TN as a residential type of property. The building on the property was first built in 1922 and is 102 years old. However, we must point out that the home was most recently renovated and altered in 1999. The home has a total of 9 rooms. 4 of these rooms are legally considered as bedrooms. Residents will have access to 3 full bathrooms. There are 3 partial bathrooms in the home. The building has a total of 2 stories. In addition, 505 South Reese Street has 2,451 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The linear feet between the front and back of the lot is 1,970 ft and across the front of the lot is 500 ft. The area measurement of the land has been determined as 9,850 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a bungalow 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. For the features and amenities located on the property. There is a detached garage for those who require parking. The garage measured 400 sqft. Residents will have the luxury of enjoying both a unknown and a unknown. Moving on to the building itself. The condition of the building has been evaluated as average. From what we've gathered, the quality of these control joints have been graded with a letter grade of D by the local assessor. The building has a gable style roof made of composition shingle. The exterior walls of the building are made of brick veneer. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a central heating system and being fueled with gas. There is a single fireplace in the home. Perfect for those wintery nights. The property was last sold in Oct 1, 2020 for $446,500. That's $182.17 per sqft. Prior to that sales transaction, the property was also sold in Jul 19, 2016 for $130,017. 505 South Reese Street was last assessed in 2022. The total value of the property was assessed at $108,800. Specifically, the land the property is located on was valued at $7,950. While improvements on the property were assessed at a total of $100,850. The total assessed value for this property is less than the total market value as of this moment. Which is great for tax purposes. The total amount of taxes due from a property owner is $6,628. The initial tax year of delinquency was in 2019. As you can see, there are a lot of things to consider when purchasing a home. For example, have you evaluated your own Debt-To-Income ratio (DTI) and understood how this may impact the number of loan options you have access to? Don't worry, we'll cover the basics such as what a DTI ratio is, how to calculate yours, what most lenders consider to be an ideal ratio, and also provide our tips on how you can improve your score if it is on the higher side. 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.