975 Thomas Street, Memphis, TN 38107
CommercialinNorth Memphis Concerned Citizens
975 Thomas Street in Memphis, TN was first built in 1966 and is 58 years old.Although, the building on the property was most recently renovated and altered in 1976.This has been categorized as a commercial property type.It is a single story home.975 Thomas Street has 8,675 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 basem*nt square footage.In total, the area measurement of the land is 24,873 square feet.
Learn more about the property and building on this page.The building type has been coded as 2. The code stands for buildings that have fireproofed reinforced concrete frames carrying all wall, floor and roof loads which are all non-combustible..Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with frame control joints.The quality of the control joints have been graded by the local assessor with a letter grade of E.The condition of the building has been evaluated as poor.The exterior walls of the home are made of brick veneer.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 a heating system and being fueled with gas.Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users.Prior to that sales transaction, the property was sold for $257,500 in Nov 13, 2018.Current property owners are expected to pay $5,166 in taxes per year.Interestingly enough, the initial year of tax delinquency occurred in 2021.The property on 975 Thomas Street was last assessed in 2022.As a result of that assessment, the total value of the property was placed at $84,800.To break that down further, the land itself was valued at $14,320.While improvements to the property were assessed at a total of $70,480.Based on our records, the total assessed value for this property has been marked as less than the total market value as of this moment. Which is great for tax purposes.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.This property is not listed for sale at this point in time but RealtyHop is constantly updating our inventory of available sales listings in real time. Don't want to miss out on this property? You can save the listing to your favorites by signing up for a RealtyHop account or you can check back frequently for updates.
This property description is generated based on publicly available data.
975 Thomas Street, Memphis, TN 38107
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1 Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
03/15/2022 | Loft | - | - | $5,000,000 Loft - | - 06/16/2022 | James Love | Christopher Wallace KELLER WILLIAMS® |
Building Info
Overview
- Year Built: 1966
- Effective Year Built: 1976
- Building Count: 1
- Bedroom Count: 0
- Building Condition: Poor
- Building Quality: E
- Construction Type: Frame
- Exterior Walls Type: Brick veneer
- Floor Count: 1
- Basem*nt Area: 0
- Parking Space Count: 0
General
- Lot Size Square Feet: 24,873
- Lot Size Frontage Feet: 1,540
- Total Building Area: 8,675
- Gross Building Area: 8,675
- Building Area: 8,675
- Building Area Measurement: Gross Area
Dimensions
- Air Conditioning: No air conditioning
- Heating: Yes
- Heated Square Feet: 8,675
- Heating Fuel Type: Gas
Heating and Cooling
- Sewer System: unknown
- Water Service: unknown
Utilities
Building
- Building Type: Fireproof reinforced concrete frames/Non-combustible materials
- Property Class: Commercial
- Subdivision: KAUFMAN S/D P
- Land Acres: 0.571
- Standard Land Use Code: Day care, pre-school (commercial)
- Legal Description 1: WS THOMAS
Ownership
- Current Owner : LOVE JAMES
- Previous Owner : EDUCATION IS THE KEY PROPERTIES LLC
- Owner Before Previous Owner: HOUSE OF KNOWLEDGE CHILDCARE INC
Neighborhood
- School District Name: Shelby County School District
- Census Tract: 000200
Zoning
- Zoning: MU
Geography
- District: O
- Parcel: 02-2034-0-0035C
- Lot: 2&5
- Municipality: MEMPHIS
- Latitude: 35.1681
- Longitude: -90.0366
- Full Address: 975 Thomas St
- Address - House Number: 975
- Address - Street Name: Thomas
- Address - Suffix Type: St
- State: TN
- City Name: Memphis
- Carrier Code: C014
- 4-Digit Zip Code: 3859
- Zip Code: 38107
Address
Valuation
- Tax Year: 2023
- Tax Amount: $5,166
- Intital Tax Deliquent Year: 2021
Tax
- Market Total Value: $212,000
- Market Land Value: $35,800
- Market Improvement Value: $176,200
Market Valuation
- Assessed Year: 2022
- Assessed Total Value: $84,800
- Assessed Land Value: $14,320
- Assessed Improvements Value: $70,480
Assessments Valuation
- Current Sale Contract Date: Jun 15, 2022
- Current Sale Recording Date: Jun 16, 2022
- Current Sale Transaction ID: 11890894092
- Current Sale Document Type: Quit Claim Deed
- Current Sale Input Document Number: 67976
- Previous Sale Recording Date: Dec 13, 2018
- Previous Sale Contract Date: Nov 13, 2018
- Previous Sale Amount: $257,500
- Previous Sale Document Type: Special Warranty Deed
Sales
- Previous Mortgage Lender: FIRST ALLIANCE BANK FSB
- Previous Mortgage Transaction Date: Dec 13, 2018
- Previous Mortgage Loan Amount: $240,000
- Previous Mortgage Term: 360
- Previous Mortgage Loan Type: Commercial
Previous Mortgages
Redact Ownership Info
AboutNorth Memphis
Stats & Trends
Median Asking:
$147,500
Sale Price/ft²
$100
Below Asking
0.06%
Average Days on Market
58
Average Home Size
63 ft²
Average Home Age
83.3 years
Currently For Sale
33Listings
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