540 Payne Avenue

540 Payne Avenue has been categorized by the local assessors in Covington, TN as a residential type of property. The building on the property was first built in 1976 and is 48 years old. However, we must point out that the home was most recently renovated and altered in 1999. Residents will have access to 2 full bathrooms. 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, 540 Payne Avenue has 1,308 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 1,250 ft and across the front of the lot is 850 ft. The area measurement of the land has been determined as 10,625 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 mixed used garage for those who require parking. The garage measured 724 sqft. According to our sources, there are a total of 3 available parking spaces. Residents will have the luxury of enjoying both a open porch and a patio. 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 building has a gable or hip style roof made of composition shingle. The exterior walls of the building are made of brick. While the interior walls have been made of gypsum boards such as those made of drywall, sheetrock, etc. As for the floors, you'll see that the home has flooring throughout. The inside of the home is being cooled with a packaged air conditioning unit at the moment. In terms of heating, it is utilizing a heating system. Finally, the property is currently sourcing its water from a municipal system. It is connected to a municipal sewage system. Which is great for homeowners who don't want to worry about the responsibilities of handling a septic tank. Though, you may accrue additional fees to have your wastewater disposed. 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, 540 Payne Avenue was last sold in Nov 12, 2020 for $125,000. According to our calculations, that's $95.57 per sqft. Prior to that sales transaction, the property was sold for $80,000 in Dec 29, 2016. Current property owners are expected to pay $997 in taxes per year. The property on 540 Payne Avenue was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $43,400. To break that down further, the land itself was valued at $5,025. While improvements to the property were assessed at a total of $38,375. Based on our records, the total assessed value for this property has been marked as less than the total market value as of this moment. Which is great for tax purposes. Remember, the purchasing price for your future home is not the costs you'll incur during the purchasing process. That's why it's important to save as much as possible and presumbly above the 20% minimum you may need to put down as down payment. You will want these additional savings to cover closing costs such as attorney fees, homeowner's insurance, title search fees, origination fees, and more. Thankfully, sellers may sometimes offer to cover certain costs as seller concessions to the buyer. Just keep in mind that sellers have their own fees to pay 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.