The specified string is a precise physical address. It denotes a particular location, encompassing a street number, directional indicator, street name, and city/state designation. This specific arrangement is designed for accurate identification and navigation.
Such addresses are vital for numerous purposes. They facilitate mail delivery, emergency services response, property identification for legal and taxation reasons, and serve as a fundamental element in geographic information systems. Their consistent structure allows for efficient data processing and management in various databases.
Subsequent sections will delve into topics such as property valuation, local demographics, neighborhood characteristics, and recent real estate transactions associated with this address.
1. Property Location
The property location at 5142 W Corly Ln, Silver Lake, IN, establishes its fundamental context. Its geographic position directly influences various aspects, ranging from accessibility and environmental factors to market valuation and community integration.
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Accessibility and Transportation
The address’s location dictates ease of access to transportation networks, including roadways, public transit, and proximity to major routes. This impacts commuting patterns, logistical convenience, and overall connectivity. For example, a location near a major highway provides easier access to regional centers, while proximity to public transportation enhances access for those without personal vehicles. In the case of 5142 W Corly Ln, access characteristics determine its attractiveness for potential residents or businesses.
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Environmental Factors and Surroundings
The physical environment surrounding the property affects its value and livability. Factors like proximity to natural features (e.g., lakes, forests), environmental hazards (e.g., flood zones, industrial sites), and neighborhood characteristics (e.g., residential density, noise levels) all play a significant role. The specific environmental attributes of the Silver Lake, IN location influence the desirability and associated value of the property. Proximity to bodies of water or green spaces enhances attractiveness, whereas nearby industrial activity may detract from it.
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Community Integration and Local Amenities
The property’s location within the Silver Lake community determines its access to essential amenities and services. This encompasses proximity to schools, healthcare facilities, shopping centers, recreational areas, and local government services. A well-integrated location offers convenience and enhances the quality of life for residents. For 5142 W Corly Ln, the availability and proximity of such amenities contribute to its overall appeal.
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Zoning and Land Use Regulations
Zoning regulations define the permissible uses of the land at the specified location. These regulations dictate whether the property can be used for residential, commercial, industrial, or mixed-use purposes. They also govern building height, lot size, and other development restrictions. Understanding the zoning designation for 5142 W Corly Ln is crucial for determining its potential use and development possibilities, impacting property value and investment potential.
In summary, property location is a multifaceted element influencing various aspects of 5142 W Corly Ln. Its position relative to transportation, environmental factors, community amenities, and zoning regulations shapes its inherent value and overall desirability. These locational attributes are fundamental in assessing the property’s suitability for different purposes and contribute to its overall market appeal.
2. Geographic Coordinates
Geographic coordinates provide a unique and precise identification for 5142 W Corly Ln, Silver Lake, IN. They represent the latitude and longitude values that pinpoint the exact location of the property on the Earth’s surface. These coordinates are not merely supplemental information; they are an intrinsic component, acting as an unambiguous identifier in a world where street addresses can be ambiguous or duplicated. The absence of geographic coordinates necessitates reliance on potentially fallible address data, increasing the risk of errors in navigation, mapping, and data analysis. For instance, emergency services utilize geographic coordinates to dispatch responders to the precise location of a 911 call, even if the caller is unable to provide a clear address due to stress or unfamiliarity. In the context of real estate, geographic coordinates allow for accurate property boundary delineation and integration with Geographic Information Systems (GIS) for analysis of surrounding environmental factors, zoning regulations, and proximity to amenities.
The practical applications of associating geographic coordinates with 5142 W Corly Ln extend across multiple domains. In logistics and delivery services, these coordinates enable precise route optimization, ensuring that packages and services are delivered to the intended recipient without ambiguity. For scientific research, the coordinates allow for the precise placement of the property within datasets concerning environmental studies, population density analysis, or geological surveys. Furthermore, government agencies utilize this data for tasks ranging from infrastructure planning to disaster response, relying on accurate location information for effective resource allocation and management. The ability to overlay the property’s location onto various thematic mapsshowing floodplains, soil types, or utility networksenhances decision-making capabilities for landowners, developers, and regulatory bodies.
In conclusion, the integration of geographic coordinates with the address 5142 W Corly Ln, Silver Lake, IN, transcends mere data redundancy. These coordinates offer a critical layer of precision and interoperability, underpinning a wide array of applications from emergency response and urban planning to scientific research and commercial logistics. While address verification can be subject to errors stemming from typos or inconsistent naming conventions, geographic coordinates present an immutable and universal reference point. Challenges may arise in maintaining accurate and up-to-date coordinate data due to shifting land boundaries or mapping inaccuracies; however, the benefits of using geographic coordinates for precise location identification far outweigh these limitations, ultimately contributing to increased efficiency and reduced risk across various sectors.
3. Real Estate Value
The real estate value of 5142 W Corly Ln, Silver Lake, IN, is a dynamic metric reflective of numerous intrinsic and extrinsic factors. Intrinsic factors encompass the physical attributes of the property itself, including its size, construction quality, age, condition, and any improvements made over time. For example, a recently renovated kitchen or updated HVAC system would positively influence the assessed value. Extrinsic factors, conversely, originate outside the property’s boundaries but exert significant influence on its market worth. These include location-specific variables, such as neighborhood characteristics, school district ratings, proximity to amenities (parks, shopping centers), and overall economic conditions within the Silver Lake area. An increasing demand for housing in Silver Lake, driven by job growth or demographic shifts, would generally elevate property values, including that of 5142 W Corly Ln. Conversely, a decline in the local economy or increased crime rates could depress valuations.
The interplay between these intrinsic and extrinsic forces determines the fair market value of the property. Appraisals, conducted by licensed professionals, serve as a standardized method for estimating this value. These appraisals incorporate a comparative market analysis (CMA), which involves examining recent sales of comparable properties in the same geographic area. By analyzing these sales, appraisers can derive insights into the current market trends and adjust the value of 5142 W Corly Ln based on its unique characteristics. For instance, if a similar property in the neighborhood recently sold for $250,000, and 5142 W Corly Ln has an additional bathroom, the appraisal would likely reflect a higher value. Property taxes, insurance premiums, and potential rental income are all directly linked to the assessed real estate value, further underscoring its importance.
Understanding the real estate value of 5142 W Corly Ln is crucial for several practical reasons. For the property owner, it impacts their net worth, borrowing power, and potential for future investment. Prospective buyers need an accurate valuation to ensure they are making a sound financial decision. Lenders rely on the appraisal to determine the maximum loan amount they are willing to extend. Challenges in accurately assessing real estate value arise from market volatility, subjective property characteristics, and the potential for appraisal bias. However, employing rigorous appraisal methodologies and considering a wide range of relevant factors mitigates these challenges, providing a reliable estimate of the property’s worth and facilitating informed decision-making within the real estate market.
4. Local Demographics
Local demographics exert a substantial influence on the character and value of properties, including 5142 W Corly Ln, Silver Lake, IN. The demographic composition of an area dictates housing preferences, demand for local services, and overall neighborhood dynamics. Factors such as age distribution, household income, education levels, and ethnic diversity contribute to the social fabric and economic vitality of the surrounding community. A preponderance of young families, for instance, typically drives demand for schools and recreational facilities, affecting property values and community planning. Conversely, a significant retirement population may prioritize access to healthcare services and senior living options.
The demographic profile of Silver Lake directly impacts the marketability and suitability of 5142 W Corly Ln. For example, if the area exhibits a high median household income, there may be a greater demand for upscale housing and related amenities, influencing the property’s valuation and attracting a specific type of buyer. Similarly, the ethnic diversity of the area can affect cultural amenities, community organizations, and linguistic services, which in turn impact the property’s appeal to diverse populations. Real estate professionals routinely analyze demographic data to assess market trends, identify target demographics, and tailor marketing strategies for specific properties like 5142 W Corly Ln. Accurate demographic insights inform decisions on property development, renovation, and pricing strategies, ensuring alignment with local needs and preferences.
In summary, local demographics are a critical component in understanding the context and potential of 5142 W Corly Ln, Silver Lake, IN. These demographic factors shape the local market dynamics, influencing property values, neighborhood characteristics, and overall community development. While challenges exist in accurately forecasting demographic shifts and accounting for individual preferences, a comprehensive understanding of local demographics provides invaluable insights for property owners, investors, and community planners alike, facilitating informed decision-making and promoting sustainable community growth.
5. Zoning Regulations
Zoning regulations represent a critical determinant of land use and development potential for any property, including 5142 W Corly Ln, Silver Lake, IN. These regulations, enacted at the local level, dictate permissible activities, building restrictions, and overall land use patterns within specific geographic areas. The zoning designation assigned to a particular property shapes its current and future utility, influencing property value and development opportunities.
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Permitted Land Use
Zoning ordinances define the types of activities allowed on a given property. For 5142 W Corly Ln, the zoning designation dictates whether it can be used for residential, commercial, industrial, or mixed-use purposes. Residential zones, for example, might permit single-family homes, apartments, or townhouses, while commercial zones allow for retail stores, offices, or restaurants. The permissible land use directly impacts the property’s potential income generation, influencing investment decisions and long-term value. For instance, if 5142 W Corly Ln is zoned for residential use, it cannot be legally converted into a commercial establishment without a zoning variance or rezoning.
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Building Restrictions and Setbacks
Zoning regulations impose restrictions on building height, lot coverage, and setbacks from property lines. These regulations aim to ensure adequate light, air, and open space, preventing overcrowding and maintaining neighborhood character. Building restrictions limit the size and footprint of structures that can be erected on 5142 W Corly Ln, affecting its development potential. Setback requirements, which specify minimum distances between buildings and property lines, influence the placement of structures and available yard space. Non-compliance with these regulations can result in fines, legal action, or even demolition of non-conforming structures.
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Density and Intensity Regulations
Zoning codes often regulate the density and intensity of land use. Density regulations control the number of dwelling units per acre, influencing population density and housing availability. Intensity regulations, such as floor area ratio (FAR), limit the total building area relative to the lot size, controlling the overall scale of development. For 5142 W Corly Ln, these regulations dictate the maximum number of residential units that can be built or the maximum size of a commercial building. Higher density and intensity regulations generally translate to increased development potential, but can also lead to concerns about traffic congestion and infrastructure capacity.
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Overlay Zones and Special Regulations
Overlay zones impose additional regulations on top of the underlying zoning designation. These zones often address specific environmental concerns, historic preservation, or aesthetic considerations. For instance, a property located within a floodplain overlay zone may be subject to stricter building codes and restrictions on development. Similarly, a property in a historic district may face limitations on exterior modifications to preserve its architectural character. The presence of overlay zones near 5142 W Corly Ln can significantly impact its development potential and property value.
The zoning regulations governing 5142 W Corly Ln, Silver Lake, IN, are not static. They can be amended or updated by local authorities to reflect changing community needs and priorities. Property owners and developers must remain informed about zoning changes and seek necessary approvals before undertaking any construction or land use modifications. Understanding these regulations is essential for maximizing the property’s value, ensuring compliance with local laws, and contributing to the overall quality of life in the Silver Lake community.
6. Neighborhood Amenities
The availability and proximity of neighborhood amenities exert a demonstrable influence on the desirability and, consequently, the value of residential properties such as that located at 5142 W Corly Ln, Silver Lake, IN. These amenities, encompassing parks, schools, retail establishments, healthcare facilities, and public transportation options, function as external locational attributes that directly impact the quality of life for residents. The presence of well-maintained parks and recreational areas, for instance, provides opportunities for physical activity, relaxation, and social interaction, thereby increasing the attractiveness of the surrounding residential area. Similarly, access to reputable schools is a significant determinant for families with children, often leading to a premium on properties situated within desirable school districts. The absence of such amenities can inversely affect property values, potentially lengthening market times and limiting the pool of prospective buyers.
For 5142 W Corly Ln, the specific array of neighborhood amenities available within a reasonable radius plays a crucial role in defining its market position. Proximity to essential services such as grocery stores, pharmacies, and medical clinics contributes to daily convenience and reduces transportation burdens. Access to public transportation networks, including bus routes or train stations, enhances mobility and reduces reliance on personal vehicles. Real estate professionals routinely emphasize the importance of neighborhood amenities when marketing properties, highlighting their contribution to a desirable lifestyle. Data on crime rates, environmental quality, and the availability of community programs also factor into the overall assessment of neighborhood attractiveness. These elements are often quantified and integrated into property valuation models to provide a more comprehensive understanding of the property’s intrinsic value.
In summary, neighborhood amenities constitute a significant component of the overall value proposition for 5142 W Corly Ln, Silver Lake, IN. The presence or absence of these amenities directly affects the quality of life for residents, influencing property values and market demand. While the subjective perception of “desirable” amenities may vary among individuals, the objective availability and accessibility of essential services and recreational opportunities are universally recognized as positive attributes. Challenges arise in quantifying the precise impact of specific amenities on property values, but the general correlation between neighborhood quality and property worth is firmly established within the real estate industry.
7. Property History
The property history of 5142 W Corly Ln, Silver Lake, IN, constitutes an integral layer of information that significantly influences its current valuation and perceived desirability. This historical record encompasses past ownership transfers, sales prices, mortgage details, construction permits, and any significant alterations or improvements undertaken on the property. Each transaction and modification leaves an imprint, contributing to the property’s narrative and providing insights into its physical condition, legal standing, and potential future liabilities. A history of consistent maintenance and timely upgrades, documented through building permits and contractor records, generally enhances the property’s appeal to prospective buyers. Conversely, a history of deferred maintenance, code violations, or unresolved legal disputes can detract from its market value and create uncertainty for potential investors. For example, evidence of a previous fire or water damage, even if remediated, necessitates thorough inspection and disclosure, potentially affecting insurance rates and buyer confidence.
Understanding the property history is not merely an academic exercise; it has practical implications for both buyers and sellers. A title search, conducted by a title company or attorney, is a crucial step in verifying ownership, identifying any liens or encumbrances, and ensuring clear title transfer. This process uncovers past mortgages, easements, tax liens, or judgments that could affect the buyer’s rights and responsibilities. In addition, historical data on environmental assessments and remediation efforts is essential for assessing potential environmental risks. For instance, if 5142 W Corly Ln was previously used for commercial purposes involving hazardous materials, a Phase I Environmental Site Assessment would be necessary to evaluate the risk of soil or groundwater contamination. Sellers are legally obligated to disclose any known material defects or adverse conditions, including those identified in the property’s historical record, to avoid potential litigation.
In conclusion, the property history of 5142 W Corly Ln serves as a valuable resource for assessing its current condition, legal status, and future potential. While gathering and interpreting historical records can present challenges, such as incomplete documentation or conflicting information, the benefits of informed decision-making outweigh the obstacles. By diligently researching the property’s past, buyers and sellers can mitigate risks, negotiate effectively, and ensure a smooth and transparent real estate transaction. This understanding contributes to the broader goal of maintaining property values and fostering stable communities.
Frequently Asked Questions About 5142 W Corly Ln, Silver Lake, IN
The following questions address common inquiries and concerns related to the specific property located at 5142 W Corly Ln, Silver Lake, IN.
Question 1: What are the property tax rates associated with this address?
Property tax rates are determined by the local taxing authorities and are subject to change annually. Specific tax amounts for 5142 W Corly Ln can be obtained from the Kosciusko County Assessor’s office.
Question 2: What school district serves this address?
The address is located within the Tippecanoe Valley School Corporation. Specific school assignments depend on grade level and current district boundaries, which can be verified with the school corporation directly.
Question 3: Are there any known environmental hazards associated with this property?
Potential environmental hazards are typically disclosed during the property transaction process. Interested parties can review environmental reports and conduct independent investigations to assess any potential risks.
Question 4: What zoning regulations apply to 5142 W Corly Ln?
The property is subject to the zoning regulations of Silver Lake, IN. Details on permissible land uses and building restrictions can be obtained from the local zoning department.
Question 5: What utilities are available at this address?
Standard utilities such as electricity, water, sewer, and natural gas (availability may vary) are generally available. Specific service providers and connection details can be obtained from local utility companies.
Question 6: What is the flood zone designation for this property?
Flood zone designations are determined by FEMA (Federal Emergency Management Agency). Flood maps can be reviewed to ascertain the property’s flood risk and associated insurance requirements.
This FAQ provides a concise overview of common questions. Further research and due diligence are recommended for any specific concerns or inquiries.
The next section will explore recent real estate transactions and market trends affecting properties in the Silver Lake area.
Navigating Insights Related to 5142 W Corly Ln, Silver Lake, IN
This section provides practical guidelines for maximizing understanding and benefits associated with data pertaining to the specific address.
Tip 1: Leverage Public Records for Comprehensive Due Diligence. Thoroughly investigate property records, including deeds, mortgages, and tax assessments, available through the Kosciusko County Recorder’s Office. This process can reveal potential encumbrances or historical ownership disputes that may affect current valuation or future transactions.
Tip 2: Analyze Local Zoning Ordinances for Development Potential. Consult the Silver Lake zoning department to ascertain current zoning regulations impacting 5142 W Corly Ln. Understanding permissible land uses and building restrictions is crucial for assessing development or renovation opportunities.
Tip 3: Examine Demographic Data to Understand Market Dynamics. Utilize census data and local surveys to analyze the demographic characteristics of the Silver Lake area. This information can provide insights into housing demand, consumer preferences, and potential economic growth that may influence property values.
Tip 4: Evaluate School District Performance to Assess Attractiveness to Families. Research the academic performance and resources of schools within the Tippecanoe Valley School Corporation. Proximity to high-quality schools is often a significant factor for families considering relocation, impacting property desirability.
Tip 5: Assess Proximity to Key Amenities for Enhanced Livability. Identify nearby amenities, such as parks, healthcare facilities, and retail centers, that contribute to the quality of life. Evaluate the accessibility and convenience of these amenities when assessing the overall appeal of the property.
Tip 6: Conduct Environmental Risk Assessment to Mitigate Potential Liabilities. Investigate potential environmental hazards, such as flood zones or brownfield sites, that may affect the property. A Phase I Environmental Site Assessment can provide valuable information regarding potential environmental risks and remediation requirements.
Tip 7: Scrutinize Past Sales Data for Accurate Valuation. Analyze historical sales data of comparable properties in the Silver Lake area to establish a realistic valuation benchmark. Consider factors such as property size, condition, and location when comparing sales prices.
Implementing these strategies facilitates informed decision-making, mitigates risks, and maximizes the potential benefits associated with property ownership or investment at the specified location.
The subsequent section will summarize the key points discussed and provide concluding remarks.
In Summary
This exploration has examined the multifaceted nature of 5142 W Corly Ln, Silver Lake, IN, extending beyond a mere address. Key aspects, including property location, geographic coordinates, real estate value, local demographics, zoning regulations, neighborhood amenities, and property history, have been detailed to provide a comprehensive understanding of its significance.
Effective navigation within the complex realm of real estate necessitates continuous vigilance and informed decision-making. The data presented provides a foundation for ongoing assessment, strategic planning, and responsible stewardship of resources in relation to the identified property. Its ultimate value lies in its capacity to inform future actions within the Silver Lake community.
