7 Morcom Terrace

Local assessors in Oradell, NJ have categorized 7 Morcom Terrace as a residential type of property. The home was built in 1984 and is 40 years old. The property's lot size has been calculated to be 4,251 square feet. Sharp-eyed aficionados of architecture will notice that the home on the property was built in a condo style. If we look only at the heated or air conditioned part of the building, then 7 Morcom Terrace has a total of 1,773 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. 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, 7 Morcom Terrace sold most recently in Aug 31, 2020 for a total of $415,000. If you work out the math, that's approximately a cost of $234.07 per sqft. Before that, the property was also sold for $335,000 in Mar 15, 2013. 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 $10,688 in taxes each year. 7 Morcom Terrace was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $420,300. If we break it down further, the land itself was valued at $194,000. Improvements to the property, however, were assessed at a total of $226,300. The property's total market value has been marked the same as the total assessed value which is pretty typical. 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.