242 Terrace Avenue

242 Terrace Avenue in Lodi, NJ was first built in 1986 and is 38 years old. This has been categorized as a residential property type. There are a total of 2 floors. 242 Terrace Avenue has 2,700 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. The linear feet across the front of the lot is 400 ft and the linear feet between the front and back of the lot is 1,000. In total, the area measurement of the land is 3,999 square feet.

Learn more about the property and building on this page. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the 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. Current property owners are expected to pay $13,722 in taxes per year. The property on 242 Terrace Avenue was last assessed in 2023. As a result of that assessment, the total value of the property was placed at $420,400. To break that down further, the land itself was valued at $137,900. While improvements to the property were assessed at a total of $282,500. Based on our records, the total market value for this property has been marked the same as the total assessed value as of this moment. Which is nothing out of the ordinary. 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!