5501 Madison Avenue

5501 Madison Avenue has been categorized by the local assessors in Indianapolis, IN as a commercial type of property. The building on the property was first built in 1949 and is 75 years old. However, we must point out that the home was most recently renovated and altered in 1995. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 5501 Madison Avenue has 6,440 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 20,932 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 3 code building. This code stands for "buildings that have exterior walls made of non-combustible material. The interior partitions and roof structure are combustible materials. For example, the building may have concrete floors or a wood frame". 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 exterior walls of the building are made of concrete block. The inside of the home is being cooled with air conditioning at the moment. In terms of heating, it is utilizing a heating system. Finally, the property is currently sourcing its water from none 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, 5501 Madison Avenue sold most recently in Oct 25, 2007 for a total of $540,000. If you work out the math, that's approximately a cost of $83.85 per sqft. Before that, the property was also sold for $193,800 in Dec 29, 2006. 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 $5,109 in taxes each year. 5501 Madison Avenue was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $167,400. If we break it down further, the land itself was valued at $46,100. Improvements to the property, however, were assessed at a total of $121,300. The property's total market value has been marked the same as the total assessed value which is pretty typical. Purchasing a home can require a lot of financial power in this day and age but not everyone has the savings to do so. As a result, many will get a mortgage loan to aid them in one of the most finance-intensive purchases of their lives. It's important when shopping for a mortgage to aim the best possible rate you can get. The lower your interest rate, the better as it can mean more money saved in the long run. In the following guide, we'll cover our best tips for how to get the best mortgage rate to your situation. 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.