1 Spruce Lane

1 Spruce Lane in Morristown, NJ was first built in 1985 and is 39 years old. This has been categorized as a residential property type. 1 Spruce Lane has 2,834 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 basement square footage. In total, the area measurement of the land is 14,257 square feet.

Learn more about the property and building on this page. 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, 1 Spruce Lane sold most recently in Oct 10, 2003 for a total of $695,000. If you work out the math, that's approximately a cost of $245.24 per sqft. Before that, the property was also sold for $580,000 in Jun 19, 2002. 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 $8,986 in taxes each year. 1 Spruce Lane was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $777,300. If we break it down further, the land itself was valued at $216,400. Improvements to the property, however, were assessed at a total of $560,900. 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. Speaking of costs, many buyers and sellers often forget to take into consideration the closing costs they may occur. Closing costs can stem from anything mortgage or property related to fees related to your property title. As you'll soon learn from our guide, fees can quickly add up hence why as a rule of thumb, we typically recommend setting aside at least 5% of the purchase price to cover potential closing costs. Don't worry, any additional you save up can always go towards your principal. Better safe than sorry!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.