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502 Indian Lane

502 Indian Lane, Salisbury, MD 21801
Property in Wicomico
Sold Apr 11, 2013
$319,000
$255,200 by Suntrust Mortgage Inc
Mortgage Due May 01, 2043
Sold Aug 04, 2004
$385,000
Local assessors in Salisbury, MD have categorized 502 Indian Lane as a residential type of property. The home was built in 2001 and is 23 years old. The property's lot size has been calculated to be 21,500 square feet. As for the restroom situation, there are 2 full bathrooms. There are also 3 partial bathrooms. This is a 2 story home so residents will need to have climb at least one set of stairs on a daily basis. If we look only at the heated or air conditioned part of the building, then 502 Indian Lane has a total of 2,904 sqft of living area. Note that this number does not include the square footage of the garage, basement, and/or porch into its calculations.

Curious to learn more about the home? Our team of data engineers have sourced the most up-to-date information from the local assessors office to share with you. The home sources its water from a water system. The home is connected to a sewer system. Which is great for homeowners who want a more hands-off approach to handling their wastewater disposal. Additional features on the property are as follows. There is a attached garage for those who need a place to park their vehicle. The garage on the property is 576 sqft. There are 2 available parking spaces so it's a great situation for those with more than one car. Do you like to entertain? The home has a open porch so you'll have a great option in the front of the home. In addition, there is a vinyl in-ground pool on the property. Perfect for those who want to host pool parties over the summer. Moving onto specific details regarding the building. Our sources show that the building condition is good. Not only do we know the type, but we also know that the assessors have graded the quality of these control joints with a letter grade - C+. The building has a roof that is made of composition shingle. Lots of unknown were used in the construction of the exterior walls of the home. Residents rely on air conditioning for their cooling system. The home's a forced air unit is the primary heating source. There is a single fireplace in the home which may result in additional cleaning fees for the homeowner. Here at RealtyHop, we've focused a lot of our efforts into gathering up-to-date and accurate data for our users. Based on our sources, 502 Indian Lane was last sold in Apr 5, 2013 for $319,000. According to our calculations, that's $109.85 per sqft. Prior to that sales transaction, the property was sold for $385,000 in Jan 1, 1970. Current property owners are expected to pay $3,295 in taxes per year. The property on 502 Indian Lane was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $333,667. 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.

Building Info

Overview

    General

  • Year Built: 2001
  • Effective Year Built: 2001
  • Bedroom Count: 0
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: Good
  • Building Quality: C+
  • Roof Cover Type: Composition shingle
  • Floor Count: 2
  • Living Units: 1
  • Basement Type: Building with no basement
  • Basement Area: 0
  • Garage Type: Attached
  • Garage Square Area: 576
  • Parking Space Count: 2
  • Porch Type: Open porch
  • Pool Type: Vinyl in-ground pool

    Dimensions

  • Lot Size Square Feet: 21,500
  • Total Building Area: 2,904
  • Gross Building Area: 2,904
  • Building Area: 2,904
  • Building Area Measurement: Total Area

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: Yes
  • Heating: Forced air unit
  • Heated Square Feet: 2,904
  • Heating Fuel Type: unknown

    Utilities

  • Sewer System: Yes
  • Water Service: Yes

Building

  • Property Class: Residential
  • Subdivision: TONY TANK
  • Land Acres: 0.494
  • Standard Land Use Code: Single family residential
  • Legal Description 1: L-45 21,500 SQ FT 502 INDIAN LANE TONY TANK PLAT

Ownership

  • Current Owner : PORTER WILLIAM E
  • Current Owner 2: PORTER AMY E
  • Previous Owner : ERSKINE JEFFREY L
  • Previous Owner 2: ERSKINE KATHLEEN D
  • Owner Before Previous Owner: DONOHOE DONNA C
  • Is Owner Occupied: Owner-occupied property
  • Owner Generation Identifier: III

Neighborhood

  • School District Name: Wicomico County Public Schools
  • Census Tract: 010400

Zoning

  • Zoning: R20

Geography

  • Assessors Map Reference: 47 18 2
  • Account Number: 010464
  • District: 16
  • Parcel: 16-010464
  • Lot: 45
  • Latitude: 38.3349
  • Longitude: -75.6207

    Address

  • Full Address: 502 Indian Ln
  • Address - House Number: 502
  • Address - Street Name: Indian
  • Address - Suffix Type: Ln
  • State: MD
  • City Name: Salisbury
  • Carrier Code: C024
  • 4-Digit Zip Code: 7015
  • Zip Code: 21801

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $3,295

    Appraisal Valuation

  • Standard Deviation: 0.2552
  • Valuation Date: Nov 22, 2023
  • Confidence Score: 63
  • Final Value: 495,440
  • High Value: 621,907
  • Low Value: 368,974

    Open Liens

  • Total Open Liens: 2
  • Total Open Liens Amount: $397,200
  • First Open Lien Mortgage Lender: SUNTRUST MORTGAGE INC
  • First Open Lien Mortgage Recording Date: Apr 11, 2013
  • First Open Lien Mortgage Loan Amount: $255,200
  • First Open Lien Mortgage Term: 360
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: New Conventional
  • First Open Lien Mortgage Loan Due Date: May 01, 2043
  • Second Open Lien Mortgage Lender: HEBRON SAVINGS BANK
  • Second Open Lien Mortgage Recording Date: Feb 22, 2019
  • Second Open Lien Mortgage Financing Type: Variable
  • Second Open Lien Mortgage Loan Amount: $142,000
  • Second Open Lien Mortgage Term: 299
  • Second Open Lien Mortgage Position: 2
  • Second Open Lien Mortgage Loan Type: Credit Line (Revolving)
  • Second Open Lien Mortgage Loan Due Date: Feb 14, 2044

    Market Valuation

  • Market Total Value: $350,900
  • Market Land Value: $41,300
  • Market Improvement Value: $309,600

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $333,667

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Apr 05, 2013
  • Current Sale Recording Date: Apr 11, 2013
  • Current Sale Transaction ID: 1090718632
  • Current Sale Price: $319,000
  • Current Sale Document Type: Deed
  • Previous Sale Recording Date: Aug 04, 2004
  • Previous Sale Amount: $385,000
  • Previous Sale Document Type: Deed

    Last Sale Mortgage

  • First Mortgage Lender: SUNTRUST MORTGAGE INC
  • First Mortgage Transaction Date: Apr 11, 2013
  • First Mortgage Loan Amount: $255,200
  • First Mortgage Terms: 360
  • First Mortgage Loan Type: New Conventional
  • First Mortgage Loan Due Date: May 01, 2043

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Frequently Asked Questions

What neighborhood is 502 Indian Lane located in?
The 502 Indian Lane is a located in the neighborhood of Wicomico in Wicomico, Salisbury.
What is the average sales price for listings in 502 Indian Lane?
The average sales price for units in 502 Indian Lane is $0 currently.

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