NOT LISTED FOR SALE

205 Somerset Ln Ocean City, NJ 08226

Estimated Value: $938,558 - $1,180,000

-- Bed
-- Bath
1,483 Sq Ft
$720/Sq Ft Est. Value

About This Home

This home is located at 205 Somerset Ln, Ocean City, NJ 08226 and is currently estimated at $1,067,890, approximately $720 per square foot. 205 Somerset Ln is a home located in Cape May County with nearby schools including Ocean City Primary School, Ocean City Intermediate School, and Ocean City High School.

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 10, 2015
Sold by
Palermo Andrea S
Bought by
Palermo Andrea S
Current Estimated Value
$1,067,890

Purchase Details

Closed on
May 14, 2013
Sold by
Palermo Charles C and Palermo Andrea S
Bought by
Palermo Andrea S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$320,000
Outstanding Balance
$226,449
Interest Rate
3.45%
Mortgage Type
New Conventional
Estimated Equity
$841,441

Purchase Details

Closed on
Jan 25, 2002
Sold by
Smith Wayne M
Bought by
Palermo Charles C and Palermo Andrea S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
7.08%

Purchase Details

Closed on
Oct 6, 1999
Sold by
Armstrong Robert E
Bought by
Smith Wayne M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
7.78%
Source: Public Records

Range of Values:

Collateral Analytics

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ICE

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First American

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Quantarium

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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
Palermo Andrea S -- None Available
Palermo Andrea S -- The Title Company Of Jersey
Palermo Charles C $250,000 --
Smith Wayne M $125,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Palermo Andrea S $320,000
Closed Palermo Charles C $200,000
Previous Owner Smith Wayne M $100,000
Source: Public Records

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
2025 $4,656 $415,000 $275,400 $139,600
2024 $4,656 $415,000 $275,400 $139,600
2023 $4,445 $415,000 $275,400 $139,600
2022 $4,270 $415,000 $275,400 $139,600
2021 $3,096 $415,000 $275,400 $139,600
2020 $4,059 $415,000 $275,400 $139,600
2019 $4,013 $415,000 $275,400 $139,600
2018 $3,976 $415,000 $275,400 $139,600
2017 $3,913 $415,000 $275,400 $139,600
2016 $3,405 $375,400 $275,400 $100,000
2015 $3,360 $375,400 $275,400 $100,000
2014 $3,311 $375,400 $275,400 $100,000
Source: Public Records

Map

New Jersey Cape May County Ocean City 08226

205 Somerset Ln, Ocean City, NJ

This home is located at 205 Somerset Ln, Ocean City, NJ 08226 and is currently estimated at $1,067,890, approximately $720 per square foot. 205 Somerset Ln is a home located in Cape May County with nearby schools including Ocean City Primary School, Ocean City Intermediate School, and Ocean City High School.

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