497 Island Way Franklin Lakes, NJ 07417
Estimated payment $9,461/month
Highlights
- In Ground Pool
- 109,771 Sq Ft lot
- Cul-De-Sac
- Ramapo High School Rated A
- Multiple Fireplaces
- Laundry Room
About This Home
Your Private Retreat Awaits! Sitting on a peaceful cul-de-sac, this home offers a rare combination of privacy & luxury. Step into the grand entry hall & you'll know you've found something special. The home's exterior is a blend of wood shingles & stone. The 1st floor boasts spacious living areas. The den, w/built-ins and a cozy fireplace, offers the perfect space to unwind. You'll find a laundry room, gym, & full bath conveniently located on this level. The formal living room opens to a gourmet kitchen & dining area with another fireplace. Upstairs, the master suite offers a fireplace, an oversized master bath & one-of-a-kind dressing room. Additionally, there are 2 spacious, bedrooms & a bath. The basement features a media room w/ a wall of built-ins. The property boasts an in-ground pool, a tennis court, and a deck, for outdoor entertaining or for relaxing. You will be part owner of Lawlins Pond. This home is truly a must-see. The property has low taxes & a 4-bedroom septic system.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $12,834
Lot Details
- 2.52 Acre Lot
- Cul-De-Sac
Parking
- 2 Car Garage
Home Design
- Split Level Home
Interior Spaces
- Multiple Fireplaces
- Gas Fireplace
- Laundry Room
- Basement
Bedrooms and Bathrooms
- 3 Bedrooms
- En-Suite Primary Bedroom
- 3 Full Bathrooms
Pool
- In Ground Pool
Utilities
- Central Air
- Heating System Uses Natural Gas
Listing and Financial Details
- Legal Lot and Block 5 / 2514.
Map
Home Values in the Area
Average Home Value in this Area
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 | $12,834 | $714,600 | $452,200 | $262,400 |
| 2024 | $12,363 | $714,600 | $452,200 | $262,400 |
| 2023 | $12,048 | $714,600 | $452,200 | $262,400 |
| 2022 | $12,048 | $714,600 | $452,200 | $262,400 |
| 2021 | $11,877 | $714,600 | $452,200 | $262,400 |
| 2020 | $11,777 | $714,600 | $452,200 | $262,400 |
| 2019 | $11,734 | $714,600 | $452,200 | $262,400 |
| 2018 | $11,612 | $714,600 | $452,200 | $262,400 |
| 2017 | $11,691 | $714,600 | $452,200 | $262,400 |
| 2016 | $11,727 | $714,600 | $452,200 | $262,400 |
| 2015 | $11,426 | $714,600 | $452,200 | $262,400 |
| 2014 | $11,234 | $714,600 | $452,200 | $262,400 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/21/2025 08/21/25 | Pending | -- | -- | -- |
| 07/17/2025 07/17/25 | For Sale | $1,589,000 | 0.0% | -- |
| 05/07/2025 05/07/25 | Pending | -- | -- | -- |
| 04/16/2025 04/16/25 | For Sale | $1,589,000 | +27.1% | -- |
| 08/28/2018 08/28/18 | Sold | $1,250,000 | +6.0% | $468 / Sq Ft |
| 06/26/2018 06/26/18 | Pending | -- | -- | -- |
| 06/11/2018 06/11/18 | For Sale | $1,179,000 | -- | $442 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $1,250,000 | -- | |
| Deed | $212,000 | -- | |
| Sheriffs Deed | $734,500 | -- | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $978,900 | New Conventional | |
| Closed | $1,000,000 | Purchase Money Mortgage | |
| Previous Owner | $200,000 | Unknown | |
| Previous Owner | $200,000 | Unknown | |
| Previous Owner | $200,000 | No Value Available | |
| Previous Owner | $480,000 | No Value Available |
Source: New Jersey MLS
MLS Number: 25010119
APN: 20-02514-01-00005
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.
The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Ten-X are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.
All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing, Inc.
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