5243 Padre Lane

5243 Padre Lane has been categorized by the local assessors in Indianapolis, IN as a residential type of property. The building on the property was first built in 1981 and is 43 years old. However, we must point out that the home was most recently renovated and altered in 1991. The home has a total of 6 rooms. 3 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, 5243 Padre Lane has 1,160 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 9,145 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. For the features and amenities located on the property. There is a detached garage for those who require parking. The garage measured 576 sqft. According to our sources, there are a total of 2 available parking spaces. Moving on to the building itself. The condition of the building has been evaluated as average. 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 roof of the building is made of asphalt. The inside of the home is being cooled with central air conditioning at the moment. In terms of heating, it is utilizing a heat pump. Finally, the property is currently sourcing its water from a water system. The building on the property is connected to a sewer system. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Based on our sources, 5243 Padre Lane was last sold in Feb 23, 2023 for $219,649. According to our calculations, that's $189.35 per sqft. Prior to that sales transaction, the property was sold for $120,000 in Sep 14, 2018. Current property owners are expected to pay $1,396 in taxes per year. The property on 5243 Padre Lane was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $140,300. To break that down further, the land itself was valued at $24,700. While improvements to the property were assessed at a total of $115,600. Based on our records, the total market value for this property has been marked the same as the total assessed value as of this moment. Which is nothing out of the ordinary. 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.This property is not listed for sale at this point in time but RealtyHop is constantly updating our inventory of available sales listings in real time. Don't want to miss out on this property? You can save the listing to your favorites by signing up for a RealtyHop account or you can check back frequently for updates.