5583 Gates Cove

Local assessors in Memphis, TN have categorized 5583 Gates Cove as a residential type of property. The home was built in 1973 and is 51 years old. The property's lot size has been calculated to be 4,531 square feet. The linear feet between the front and back of the lot was measured at 1,200 ft and the front of the lot was measured at 800 ft. Sharp-eyed aficionados of architecture will notice that the home on the property was built in a contemporary style. Now, let's dive a bit deeper into the details surrounding the home on the property. There are 6 rooms in the home. Of these, 2 have been legally categorized as bedrooms. For more details, please view your local government regulations on what counts as a legal bedroom. As for the restroom situation, there are 2 full bathrooms. There are also 3 partial bathrooms. This is a 2 story home so residents will need to have climb at least one set of stairs on a daily basis. If we look only at the heated or air conditioned part of the building, then 5583 Gates Cove has a total of 1,452 sqft of living area. Note that this number does not include the square footage of the garage, basement, and/or porch into its calculations.

Curious to learn more about the home? Our team of data engineers have sourced the most up-to-date information from the local assessors office to share with you. Additional features on the property are as follows. There is a carport for those who need a place to park their vehicle. The garage on the property is 180 sqft. Moving onto specific details regarding the building. Our sources show that the building condition is average. Not only do we know the type, but we also know that the assessors have graded the quality of these control joints with a letter grade - D. Lots of materials we are unsure of were used in the construction of the exterior walls of the home. Residents rely on central air conditioning for their cooling system. The home's a central heating system is the primary heating source and it is being fueled with gas. There is a single fireplace in the home which may result in additional cleaning fees for the homeowner. 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, 5583 Gates Cove sold most recently in Mar 10, 2022 for a total of $60,000. If you work out the math, that's approximately a cost of $41.32 per sqft. Before that, the property was also sold for $21,000 in May 18, 2005. 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 $401 in taxes each year. The initial year of tax delinquency occurred in 2022. 5583 Gates Cove was most recently assessed in 2022. During this assessment, the property's total value was estimated to be about $6,575. If we break it down further, the land itself was valued at $1,125. Improvements to the property, however, were assessed at a total of $5,450. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. As you can see, there are a lot of things to consider when purchasing a home. For example, have you evaluated your own Debt-To-Income ratio (DTI) and understood how this may impact the number of loan options you have access to? Don't worry, we'll cover the basics such as what a DTI ratio is, how to calculate yours, what most lenders consider to be an ideal ratio, and also provide our tips on how you can improve your score if it is on the higher side.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.