NOT LISTED FOR SALE

48 Summit Dr Basking Ridge, NJ 07920

Estimated Value: $1,340,000 - $1,562,000

5 Beds
3 Baths
-- Sq Ft
0.55 Acres

Last Sold September 22, 2023

Last sale price $1,200,000

Est. 17% increase in value since last sale

Current estimated payment $9,199/month

11 Days on Market

About This Home

As of September 2023

This home is located at 48 Summit Dr, Basking Ridge, NJ 07920 since 03 August 2023 and is currently estimated at $1,407,407. This property was built in 1989. 48 Summit Dr is a home located in Somerset County with nearby schools including Cedar Hill Elementary School, William Annin Middle School, and Ridge High School.

Last Agent to Sell the Property

MINDY ZHANG

REALMART REALTY Brokerage Phone: 888-362-6543 Listed on: 08/03/2023

Last Buyer's Agent

KELLY JU

REALMART REALTY

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $20,745

Year Built

  • Built in 1989

Lot Details

  • 0.55 Acre Lot

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Home Details

Home Type

Single Family

Est. Annual Taxes

$20,745

Year Built

Built in 1989

Lot Details

0

Listing Details

  • Year Built: 1989
  • County Name: Somerset
  • Street Number Display: 48
  • I D: 5236785
  • Modified: 2024-09-23
  • Number Images: 1
  • Attribution Contact: 888-362-6543
  • MLS Status: Sold
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Bedrooms: 5
  • Bathrooms: 2.10

Lot Info

  • Lot Size: 0.55AC
  • Total Acres: 0.55

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 3, 2023
Closed on
Sep 17, 2023
Sold by
Zheng Xueqiang and Zheng Hua
Bought by
Bao Weichao and Gao Yang
Seller's Agent
MINDY ZHANG
REALMART REALTY
Buyer's Agent
KELLY JU
REALMART REALTY
List Price
$1,145,000
Sold Price
$1,200,000
Premium/Discount to List
$55,000
4.8%
Total Days on Market
11
Views
21
Current Estimated Value
$1,407,407

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$207,407
Avg. Annual Appreciation
9.89%
Original Mortgage
$727,000
Outstanding Balance
$695,593
Interest Rate
1%
Mortgage Type
New Conventional
Estimated Equity
$711,814

Purchase Details

Listed on
Jun 23, 2014
Closed on
Jun 23, 2014
Sold by
Yang Patrick and Yang Lydia
Bought by
Zheng Xuequiaug and Li Hua
Buyer's Agent
MINDY ZHANG
REALMART REALTY
Sold Price
$963,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.41%
Original Mortgage
$530,000
Interest Rate
5%
Mortgage Type
Adjustable Rate Mortgage/ARM
Source: Public Records

Range of Values:

Collateral Analytics

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ICE

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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
Bao Weichao $1,200,000 None Listed On Document
Zheng Xuequiaug $963,000 Quality Title & Abstract Age
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bao Weichao $727,000
Previous Owner Zheng Xue Qiang $520,000
Previous Owner Zheng Xuequiaug $530,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/22/2023 09/22/23 Sold $1,200,000 +4.8% --
08/18/2023 08/18/23 Pending -- -- --
08/06/2023 08/06/23 For Sale $1,145,000 +18.9% --
06/23/2014 06/23/14 Sold $963,000 -- --
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 $20,745 $1,166,100 $403,800 $762,300
2023 $21,133 $1,120,500 $403,800 $716,700
2022 $20,132 $1,001,100 $388,800 $612,300
2021 $18,142 $859,800 $369,300 $490,500
2020 $18,209 $869,600 $369,300 $500,300
2019 $18,097 $889,700 $369,300 $520,400
2018 $18,490 $922,200 $369,300 $552,900
2017 $18,370 $923,600 $369,300 $554,300
2016 $18,343 $940,200 $379,300 $560,900
2015 $17,516 $914,200 $379,300 $534,900
2014 $16,516 $854,000 $379,300 $474,700
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2023

    MINDY ZHANG

    REALMART REALTY

  • K

    Buyer's Agent in 2023

    KELLY JU

    REALMART REALTY

See All Agents

Map

Source: Garden State MLS

MLS Number: 3857878

Garden State MLS

APN: 02-06501-0000-00007

New Jersey Somerset County Basking Ridge 07920

48 Summit Dr, Basking Ridge, NJ

This home is located at 48 Summit Dr, Basking Ridge, NJ 07920 since 03 August 2023 and is currently estimated at $1,407,407. This property was built in 1989. 48 Summit Dr is a home located in Somerset County with nearby schools including Cedar Hill Elementary School, William Annin Middle School, and Ridge High School.

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