505 Watchung Avenue

505 Watchung Avenue has been categorized by the local assessors in Bloomfield, NJ as a residential type of property. The building on the property was first built in 1928 and is 96 years old. This is a single story building so stairs are not necessary to access other parts of the home. In addition, 505 Watchung Avenue has 2,108 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The linear feet between the front and back of the lot is 1,200 ft and across the front of the lot is 400 ft. The area measurement of the land has been determined as 4,800 square feet.

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, 505 Watchung Avenue sold most recently in May 27, 2021 for a total of $602,000. If you work out the math, that's approximately a cost of $285.58 per sqft. Before that, the property was also sold for $460,000 in Jul 21, 2017. 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 $17,009 in taxes each year. The initial year of tax delinquency occurred in 2017. 505 Watchung Avenue was most recently assessed in 2022. During this assessment, the property's total value was estimated to be about $531,200. 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.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.