708 Fayette Street

708 Fayette Street has been categorized by the local assessors in Cumberland, MD as a residential type of property. The building on the property was first built in 1909 and is 115 years old. The building has a total of 2 stories. In addition, 708 Fayette Street has 3,014 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 11,756 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. Residents will have the luxury of enjoying a unknown. Moving on to the building itself. The condition of the building has been evaluated as good. 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 wood 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 building has a gable style roof made of composition shingle. The exterior walls of the building are made of alum/vinyl siding. In terms of heating, it is utilizing a steam heating system. The building on the property is connected to a sewer 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, 708 Fayette Street sold most recently in Dec 1, 2021 for a total of $1,321,200. If you work out the math, that's approximately a cost of $606.61 per sqft. Before that, the property was also sold for $20,000 in Nov 10, 1987. 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 $1,396 in taxes each year. The initial year of tax delinquency occurred in 2022. 708 Fayette Street was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $150,100. If we break it down further, the land itself was valued at $35,200. Improvements to the property, however, were assessed at a total of $114,900. The property's total market value has been marked the same as the total assessed value which is pretty typical. 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.