520 Locust Lane

520 Locust Lane has been categorized by the local assessors in Danville, VA as a residential type of property. The building on the property was first built in 1955 and is 69 years old. The home has a total of 7 rooms. 2 of these rooms are legally considered as bedrooms. Residents will have access to one full bathroom. There are 2 partial bathrooms in the home. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 520 Locust Lane has 2,072 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 1,036 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 1,500 ft and across the front of the lot is 500 ft. The area measurement of the land has been determined as 7,841 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a conventional 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 392 sqft. According to our sources, there is one available parking space. Residents will have the luxury of enjoying a open porch. 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 C by the local assessor. The roof of the building is made of composition shingle. The exterior walls of the building are made of brick veneer. While the interior walls have been made of plaster. In terms of heating, it is utilizing a central heating system. Finally, the property is currently sourcing its water from a water system. The building on the property is connected to a sewer system. 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, 520 Locust Lane sold most recently in Apr 22, 2019 for a total of $58,000. If you work out the math, that's approximately a cost of $55.98 per sqft. Before that, the property was also sold for $50,000 in Mar 9, 2017. 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 $420 in taxes each year. 520 Locust Lane was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $50,000. If we break it down further, the land itself was valued at $2,500. Improvements to the property, however, were assessed at a total of $47,500. The property's total market value has been marked the same as the total assessed value which is pretty typical. 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.Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.