2 Prospect Street

Local assessors in Mendham, NJ have categorized 2 Prospect Street as a residential type of property. The home was built in 1906 and is 118 years old. The property's lot size has been calculated to be 23,958 square feet. The linear feet between the front and back of the lot was measured at 1,490 ft and the front of the lot was measured at 1,440 ft. 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 2 Prospect Street has a total of 2,339 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. It might sound scary but did you know that buildings can move depending on the weather? Both hot and cold weather can have severe impact on the longevity of your home structure depending on how much your home moves. Hence why architects pay a lot of attention to the type of control joints used in the construction process. Just so you know, this home was built with frame control joints. 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, 2 Prospect Street was last sold in May 14, 2016 for $637,500. According to our calculations, that's $272.55 per sqft. Prior to that sales transaction, the property was sold for $680,000 in Jan 26, 2005. Current property owners are expected to pay $14,437 in taxes per year. The property on 2 Prospect Street was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $588,300. To break that down further, the land itself was valued at $322,500. While improvements to the property were assessed at a total of $265,800. 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. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well.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.