NOT LISTED FOR SALE

40 Magellan Way Franklin Park, NJ 08823

Estimated Value: $766,000 - $815,000

4 Beds
3 Baths
2,642 Sq Ft
$300/Sq Ft Est. Value

About This Home

This home is located at 40 Magellan Way, Franklin Park, NJ 08823 and is currently estimated at $791,974, approximately $299 per square foot. 40 Magellan Way is a home located in Somerset County with nearby schools including Franklin High School, St. Augustine of Canterbury School, and Guidepost Montessori at Kendall Park.

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 10, 2021
Sold by
Patel Harivadan and Patel Urmilaben H
Bought by
Patel Mukeshkumar Revajibhai and Patel Nayanabahen Mukeshkumar
Current Estimated Value
$791,974

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$540,000
Outstanding Balance
$491,027
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$300,947

Purchase Details

Closed on
Jan 18, 2008
Sold by
Gorospe Myles S and Lam Gorospe Vynnie
Bought by
Patel Harivadan and Patel Urmilaben H

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
5.75%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 1, 2003
Sold by
Kelly Bradley
Bought by
Gorospe Vynnie Lam

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$307,900
Interest Rate
5.45%

Purchase Details

Closed on
May 20, 1997
Sold by
Vega Linda
Bought by
Kelly Bradley and Kelly Ritu

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$201,000
Interest Rate
7.81%
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
Patel Mukeshkumar Revajibhai $600,000 New Horizon Abstract Inc
Patel Harivadan $465,000 Realty Guardian-Direct Title
Gorospe Vynnie Lam $384,900 --
Gorospe Vynnie Lam $384,900 --
Kelly Bradley $223,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Patel Mukeshkumar Revajibhai $540,000
Previous Owner Patel Harivadan $200,000
Previous Owner Gorospe Vynnie Lam $307,900
Previous Owner Kelly Bradley $201,000
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 $10,254 $651,000 $321,500 $329,500
2024 $10,254 $568,700 $321,500 $247,200
2023 $9,921 $516,200 $269,000 $247,200
2022 $9,830 $484,700 $237,500 $247,200
2021 $9,539 $432,200 $185,000 $247,200
2020 $9,526 $421,700 $174,500 $247,200
2019 $9,404 $411,200 $164,000 $247,200
2018 $10,478 $453,600 $143,000 $310,600
2017 $10,275 $443,100 $132,500 $310,600
2016 $10,242 $437,900 $127,300 $310,600
2015 $10,049 $432,600 $122,000 $310,600
2014 $9,875 $431,600 $121,000 $310,600
Source: Public Records

Map

New Jersey Somerset County Franklin Park 08823

40 Magellan Way, Franklin Park, NJ

This home is located at 40 Magellan Way, Franklin Park, NJ 08823 and is currently estimated at $791,974, approximately $299 per square foot. 40 Magellan Way is a home located in Somerset County with nearby schools including Franklin High School, St. Augustine of Canterbury School, and Guidepost Montessori at Kendall Park.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Nearby Homes