16 Terrace Avenue

16 Terrace Avenue has been categorized by the local assessors in Niantic, CT as a residential type of property. The building on the property was first built in 1900 and is 124 years old. The home has a total of 7 rooms. 4 of these rooms are legally considered as bedrooms. Residents will have access to 2 full bathrooms. There are 2 partial bathrooms in the home. The building has a total of 2 stories. In addition, 16 Terrace Avenue has 1,774 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 7,841 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a conventional style.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. Moving on to the building itself. The condition of the building has been evaluated as average. The building has a gable style roof made of asphalt. The exterior walls of the building are made of alum/vinyl siding. In terms of heating, it is utilizing a hot water heating system and being fueled with oil. 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, 16 Terrace Avenue sold most recently in Nov 26, 2019 for a total of $300,000. If you work out the math, that's approximately a cost of $169.11 per sqft. Before that, the property was also sold for $65,900 in Jan 1, 1970. 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 $6,009 in taxes each year. 16 Terrace Avenue was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $241,500. If we break it down further, the land itself was valued at $103,250. Improvements to the property, however, were assessed at a total of $138,250. The property's total assessed value has been marked as more than the total market value which is pretty atypical. Remember, the purchasing price for your future home is not the costs you'll incur during the purchasing process. That's why it's important to save as much as possible and presumbly above the 20% minimum you may need to put down as down payment. You will want these additional savings to cover closing costs such as attorney fees, homeowner's insurance, title search fees, origination fees, and more. Thankfully, sellers may sometimes offer to cover certain costs as seller concessions to the buyer. Just keep in mind that sellers have their own fees to pay as well.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.