42 Spencer Street

42 Spencer Street has been categorized by the local assessors in Somerset, NJ as a residential type of property. The building on the property was first built in 2000 and is 24 years old. In addition, 42 Spencer Street has 1,844 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 1,224 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a condo style.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. 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, 42 Spencer Street sold most recently in Oct 12, 2021 for a total of $367,000. If you work out the math, that's approximately a cost of $199.02 per sqft. Before that, the property was also sold for $290,000 in Aug 26, 2020. 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 $7,267 in taxes each year. 42 Spencer Street was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $378,100. If we break it down further, the land itself was valued at $135,000. Improvements to the property, however, were assessed at a total of $243,100. The property's total assessed value has been marked as more than the total market value which is pretty atypical. Are you already in the process of closing on a property and have signed a purchase agreement? You may want to consider locking in your current mortgage rate if interest rates have been rising or seem volatile. This is what's known in the market as a mortgage rate lock (aka rate protection). However, be sure to evaluate your situation carefully before you do so. There may be certain costs associated with taking this action and you'll want to time the start of your perfectly!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.