92 Lake Drive

92 Lake Drive has been categorized by the local assessors in Mountain Lakes, NJ as a residential type of property. The building on the property was first built in 1912 and is 112 years old. The building has a total of 2 stories. In addition, 92 Lake Drive has 4,561 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 1,500 ft and across the front of the lot is 1,500 ft. The area measurement of the land has been determined as 22,477 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. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with other control joints. The exterior walls of the building are made of stucco. 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, 92 Lake Drive sold most recently in Oct 7, 2020 for a total of $1,140,000. If you work out the math, that's approximately a cost of $249.95 per sqft. Before that, the property was also sold for $1,057,230 in Sep 13, 2019. 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 $30,930 in taxes each year. 92 Lake Drive was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $1,223,500. If we break it down further, the land itself was valued at $448,100. Improvements to the property, however, were assessed at a total of $775,400. 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.