54 South Colorado Avenue

54 South Colorado Avenue in Indianapolis, IN was first built in 1926 and is 98 years old. Although, the building on the property was most recently renovated and altered in 1935. This has been categorized as a residential property type. For those interested in architecture, the building on the property was built in a duplex style. It is a single story home. There are a total of 5 rooms in the home, of which, 3 are bedrooms. 54 South Colorado Avenue has 700 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. The basement is 700 sqft and has been categorized as a full basement. The linear feet across the front of the lot is 400 ft and the linear feet between the front and back of the lot is 2,510. In total, the area measurement of the land is 10,019 square feet.

Learn more about the property and building on this page. The roof of the home is made of asphalt. Water for the property is sourced from a water system. The property is connected to a sewer system. For those who need parking, there is a detached garage. The garage is 360 sqft. There is one available parking space. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with frame control joints. The quality of the control joints have been graded by the local assessor with a letter grade of D. The condition of the building has been evaluated as fair. Walk into the home itself and you'll find that it is currently being cooled with no air conditioning. As for heating, the home is utilizing a central heating 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, 54 South Colorado Avenue was last sold in Feb 22, 2024 for $13,300,000. According to our calculations, that's $9,500.00 per sqft. Prior to that sales transaction, the property was sold for $93,000 in Dec 20, 2023. Current property owners are expected to pay $1,834 in taxes per year. Interestingly enough, the initial year of tax delinquency occurred in 2021. The property on 54 South Colorado Avenue was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $75,900. To break that down further, the land itself was valued at $11,400. While improvements to the property were assessed at a total of $64,500. 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.