5 Lawrence Drive

5 Lawrence Drive in Rockaway, NJ was first built in 1990 and is 34 years old. This has been categorized as a residential property type. For those interested in architecture, the building on the property was built in a colonial style. There are a total of 2 floors. 5 Lawrence Drive has 2,994 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 1,000 ft and the linear feet between the front and back of the lot is 1,500. In total, the area measurement of the land is 15,002 square feet.

Learn more about the property and building on this page. For those who need parking, there is a garage underground or in the basement. 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. 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, 5 Lawrence Drive sold most recently in Oct 24, 2017 for a total of $405,000. If you work out the math, that's approximately a cost of $135.27 per sqft. 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 $16,218 in taxes each year. 5 Lawrence Drive was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $499,000. If we break it down further, the land itself was valued at $263,200. Improvements to the property, however, were assessed at a total of $235,800. 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. 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.