8325 East Jefferson Avenue

8325 East Jefferson Avenue has been categorized by the local assessors in Detroit, MI as a office type of property. The building on the property was first built in 1936 and is 88 years old. The building has a total of 2 stories. In addition, 8325 East Jefferson Avenue has 4,938 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 2,000 ft and across the front of the lot is 740 ft. The area measurement of the land has been determined as 14,375 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". In terms of heating, it is utilizing a forced air unit. 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, 8325 East Jefferson Avenue sold most recently in Apr 24, 2023 for a total of $575,000. If you work out the math, that's approximately a cost of $88.63 per sqft. Before that, the property was also sold for $42,000 in Apr 17, 2013. 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 $5,798 in taxes each year. The initial year of tax delinquency occurred in 2022. 8325 East Jefferson Avenue was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $194,600. 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. 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.