8 Colonial Avenue

8 Colonial Avenue in Paterson, NJ was first built in 1950 and is 74 years old. This has been categorized as a residential property type. It is a single story home. 8 Colonial Avenue has 638 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 500 ft and the linear feet between the front and back of the lot is 1,020. In total, the area measurement of the land is 5,100 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. Based on our sources, 8 Colonial Avenue was last sold in Oct 11, 2016 for $167,000. According to our calculations, that's $261.76 per sqft. Prior to that sales transaction, the property was sold for $145,000 in Jun 24, 2002. Current property owners are expected to pay $6,745 in taxes per year. The property on 8 Colonial Avenue was last assessed in 2022. As a result of that assessment, the total value of the property was placed at $145,300. To break that down further, the land itself was valued at $69,600. While improvements to the property were assessed at a total of $75,700. 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. 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.This property is not listed for sale at this point in time but RealtyHop is constantly updating our inventory of available sales listings in real time. Don't want to miss out on this property? You can save the listing to your favorites by signing up for a RealtyHop account or you can check back frequently for updates.