510 South Main Street

510 South Main Street has been categorized by the local assessors in Memphis, TN as a commercial type of property. The building on the property was first built in 1913 and is 111 years old. However, we must point out that the home was most recently renovated and altered in 1990. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 510 South Main Street has 4,662 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 1,765 ft and across the front of the lot is 250 ft. The area measurement of the land has been determined as 4,400 square feet.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. We know that this is 2 code building. This code stands for "buildings that have fireproofed reinforced concrete frames carrying all wall, floor and roof loads which are all non-combustible.". Moving on to the building itself. The condition of the building has been evaluated as good. 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 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 heating system and being fueled with gas. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 510 South Main Street sold most recently in Oct 1, 2018 for a total of $835,000. If you work out the math, that's approximately a cost of $179.11 per sqft. Before that, the property was also sold for $432,500 in Aug 20, 2013. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $11,040 in taxes each year. 510 South Main Street was most recently assessed in 2022. During this assessment, the property's total value was estimated to be about $181,240. If we break it down further, the land itself was valued at $28,880. Improvements to the property, however, were assessed at a total of $152,360. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. Are you already in the process of closing on a property and have signed a purchase agreement? You may want to consider locking in your current mortgage rate if interest rates have been rising or seem volatile. This is what's known in the market as a mortgage rate lock (aka rate protection). However, be sure to evaluate your situation carefully before you do so. There may be certain costs associated with taking this action and you'll want to time the start of your perfectly!