NOT LISTED FOR SALE

2 Lorraine Rd Summit, NJ 07901

Estimated Value: $2,311,000 - $2,387,934

4 Beds
5 Baths
-- Sq Ft
8,451 Sq Ft Lot

Last Sold April 10, 2023

Last sale price $1,899,000

Est. 24% increase in value since last sale

Current estimated payment $15,622/month

About This Home

As of April 2023

This home is located at 2 Lorraine Rd, Summit, NJ 07901 since 10 April 2023 and is currently estimated at $2,346,645. This property was built in 1935. 2 Lorraine Rd is a home located in Union County with nearby schools including L C Johnson Summit Middle School, Summit Sr High School, and Kent Place School.

Last Agent to Sell the Property

JILL BRAY

PROMINENT PROPERTIES SIR Brokerage Phone: 908-273-8808 Listed on: 04/10/2023

Last Buyer's Agent

ARLENE GORMAN GONNELLA

WEICHERT REALTORS

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $29,402

Year Built

  • Built in 1935

Lot Details

  • 8,451

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 5 Bathrooms

Home Details

Home Type

Single Family

Est. Annual Taxes

$29,402

Year Built

Built in 1935

Lot Details

0

Listing Details

  • Year Built: 1935
  • County Name: Union
  • Street Number Display: 2
  • I D: 5201405
  • Modified: 2024-04-11
  • Number Images: 1
  • Attribution Contact: 908-273-8808
  • MLS Status: Sold
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Bedrooms: 4
  • Bathrooms: 4.10

Lot Info

  • Lot Size: 92X92

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 10, 2023
Closed on
Mar 22, 2023
Sold by
Sanders Corey and Sanders Jaclyn
Bought by
Tavakoli Shaud and Javaid Nida
Seller's Agent
JILL BRAY
PROMINENT PROPERTIES SIR
Buyer's Agent
ARLENE GORMAN GONNELLA
WEICHERT REALTORS
List Price
$1,899,000
Sold Price
$1,899,000
Total Days on Market
0
Current Estimated Value
$2,346,645

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$447,645
Avg. Annual Appreciation
6.91%
Original Mortgage
$1,708,910
Outstanding Balance
$1,672,918
Interest Rate
6.5%
Mortgage Type
New Conventional
Estimated Equity
$520,811

Purchase Details

Listed on
Mar 20, 2017
Closed on
Jul 13, 2017
Sold by
Winns Scott W and Mitchell Gayle
Bought by
Sanders Corey and Lasaracina Jaclyn
Seller's Agent
REGINA M MCAULEY
LOIS SCHNEIDER REALTOR
Buyer's Agent
Victoria Carter
WEICHERT REALTORS
List Price
$1,550,000
Sold Price
$1,492,500
Premium/Discount to List
-$57,500
-3.71%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.28%
Original Mortgage
$1,100,000
Interest Rate
3.94%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 4, 1986
Bought by
Winn Scott and Winn Gayle M
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Tavakoli Shaud $1,899,000 Chicago Title
Sanders Corey $1,492,500 Suburban Title
Winn Scott $420,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Tavakoli Shaud $1,708,910
Previous Owner Sanders Corey $1,100,000
Previous Owner Winn Scott $806,000
Previous Owner Winn Scott $700,000
Previous Owner Winn Scott W $650,000
Previous Owner Winn Scott W $75,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/10/2023 04/10/23 Sold $1,899,000 0.0% --
04/10/2023 04/10/23 Pending -- -- --
04/10/2023 04/10/23 For Sale $1,899,000 +27.2% --
07/13/2017 07/13/17 Sold $1,492,500 -3.7% --
05/11/2017 05/11/17 Pending -- -- --
03/20/2017 03/20/17 For Sale $1,550,000 -- --
Source: Garden State MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $29,402 $679,500 $212,600 $466,900
2023 $29,402 $679,500 $212,600 $466,900
2022 $29,103 $679,500 $212,600 $466,900
2021 $29,334 $679,500 $212,600 $466,900
2020 $29,626 $679,500 $212,600 $466,900
2019 $29,660 $679,500 $212,600 $466,900
2018 $29,470 $679,500 $212,600 $466,900
2017 $29,660 $679,500 $212,600 $466,900
2016 $29,225 $679,500 $212,600 $466,900
2015 $28,655 $679,500 $212,600 $466,900
2014 $27,914 $679,500 $212,600 $466,900
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2023

    JILL BRAY

    PROMINENT PROPERTIES SIR

  • A

    Buyer's Agent in 2023

    ARLENE GORMAN GONNELLA

    WEICHERT REALTORS

  • R

    Seller's Agent in 2017

    REGINA M MCAULEY

    LOIS SCHNEIDER REALTOR

  • V

    Buyer's Agent in 2017

    Victoria Carter

    WEICHERT REALTORS

    (973) 376-6748

    14 in this area

    529 Total Sales

    Victoria Carter
    Section Image
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Map

Source: Garden State MLS

MLS Number: 3837316

Garden State MLS

APN: 18-01203-0000-00046

New Jersey Union County Summit 07901

2 Lorraine Rd, Summit, NJ

This home is located at 2 Lorraine Rd, Summit, NJ 07901 since 10 April 2023 and is currently estimated at $2,346,645. This property was built in 1935. 2 Lorraine Rd is a home located in Union County with nearby schools including L C Johnson Summit Middle School, Summit Sr High School, and Kent Place School.

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