705 1st Rainbow Street

705 1st Rainbow Street in Lexington, NC was first built in 1912 and is 112 years old. Although, the building on the property was most recently renovated and altered in 1945. This has been categorized as a residential property type. It is a single story home. There are a total of 0 rooms in the home, of which, 3 are bedrooms. In terms of bathrooms, there is only one bathroom. There is a 1 partial bathroom. 705 1st Rainbow Street has 1,095 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 linear feet across the front of the lot is 580 ft and the linear feet between the front and back of the lot is 1,150. In total, the area measurement of the land is 6,670 square feet.

Learn more about the property and building on this page. There is a open porch. The home has a gable or hip style roof made of composition shingle. The quality of the control joints have been graded by the local assessor with a letter grade of C. The exterior walls of the home are made of wood shingle. While the interior walls are made of plaster. 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 baseboard heaters and being fueled with gas. There is a fireplace in the home! Just imagine how amazing it would be to curl up in front of a cozy fireplace during those chilly winter nights. The property was last sold in Dec 9, 2021 for $50,000. That's $37.88 per sqft. Prior to that sales transaction, the property was also sold in Apr 20, 2011 for $14,500. 705 1st Rainbow Street was last assessed in 2023. The total value of the property was assessed at $39,310. The total market value for this property is the same as the total assessed value as of this moment. The total amount of taxes due from a property owner is $515. 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. Unfortunately, this property is not currently listed for sale but our inventory of available properties is constantly updating in real time. Check back frequently for updates.