NOT LISTED FOR SALE

5 Summit Terrace Sparta, NJ 07871

Estimated Value: $423,000 - $492,000

3 Beds
2 Baths
1,395 Sq Ft
$330/Sq Ft Est. Value

Last Sold May 27, 2022

Last sale price $375,000 $269 Per Sq Ft

Est. 23% increase in value since last sale

Current estimated payment $3,306/month

31 Days on Market

Highlights

  • Private Pool
  • Lake Privileges
  • Deck
  • Sparta High School Rated A
  • Clubhouse
  • Wood Flooring

About This Home

As of May 2022

Attention Lake Mohawk Lovers! Welcome to this lovely Terrace location, close distance to Alpine Pool, home features a large updated kitchen, three bedrooms and two full baths. Level lot that backs to nature, deck off kitchen and one car attached garage. Enjoy all the amenities Lake Mohawk has to offer, many beaches to choose from, boating, walking trails and a boardwalk to take in the views after enjoying a meal or visiting a fav shop. Roof and windows replaced in 2012, wood floors refinished and in great shape. Natural gas hook up is available. Just in time for the summer fun.

Last Agent to Sell the Property

MARY D FORMAN

COLDWELL BANKER REALTY Listed on: 03/08/2022

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $7,723

Year Built

  • Built in 1973

Lot Details

  • 10,019 Sq Ft Lot
  • Level Lot

HOA Fees

  • $125 Monthly HOA Fees

Parking

  • 1 Car Direct Access Garage

Home Design

  • Bi-Level Home
  • Wood Shingle Roof

Interior Spaces

  • Family Room
  • Living Room
  • Wood Flooring
  • Fire and Smoke Detector

Kitchen

  • Eat-In Kitchen
  • Electric Oven or Range

Bedrooms and Bathrooms

  • 3 Bedrooms
  • Main Floor Bedroom
  • 2 Full Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Outdoor Features

  • Private Pool
  • Lake Privileges
  • Deck

Schools

  • Sparta Elementary And Middle School
  • Sparta High School

Utilities

  • Electric Baseboard Heater
  • Underground Utilities
  • Standard Electricity
  • Electric Water Heater
  • Septic System

Listing and Financial Details

  • Assessor Parcel Number 2818-04013-0000-00039-0000-
  • Tax Block *

Community Details

Recreation

  • Powered Boats Allowed
  • Community Playground
  • Community Pool

Additional Features

  • Clubhouse

Home Details

Home Type

Single Family

Est. Annual Taxes

$7,723

Year Built

Built in 1973

Lot Details

0

HOA Fees

$125 per month

Parking

1

Listing Details

  • Style: Bi-Level
  • Primary Style: Bi-Level
  • Subproperty Type: Single Family
  • Community Living: Yes
  • Year Built: 1973
  • Year Built Description: Approximate
  • County Name: Sussex
  • Street Number Display: 5
  • Directions: W. Shore to Alpine Trail to Summit Ter or Alpine to Summit Trail left on Summit Terrace
  • I D: 5133120
  • Modified: 2023-05-28
  • Number Images: 24
  • Section Subdiv Development: Lake Mohawk
  • First Name: MARY D
  • First Name3: UNKNOWN
  • Last Name: FORMAN
  • Last Name3: AGENT
  • Office Phone: 973-729-6826
  • Office Phone3: 973-555-5555
  • Attribution Contact: 973-729-6111
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Flooring: Wood
  • Appliances: Dryer, Range/Oven-Electric, Refrigerator, Washer
  • Interior Amenities: Smoke Detector
  • Number Rooms: 6
  • Bedrooms: 3
  • Bedroom 1 Level: First
  • Bedroom 2 Level: First
  • Bedroom 3 Level: Ground
  • Bathrooms: 2.00
  • Full Bathrooms: 2
  • Family Room Level: Ground
  • Kitchen Area: Eat-In Kitchen
  • Kitchen Dim: 19x9
  • Kitchen Level: First
  • Living Room Level: First
  • Other Room 1: Laundry Room
  • Other Room1 Level: Ground
  • Level 1 Rooms: 2 Bedrooms, Bath Main, Kitchen, Living Room
  • Ground Level Rooms: 1 Bedroom, Bath(s) Other, Family Room, GarEnter, Laundry Room
  • Phone: 973-729-6111

Exterior Features

  • Exterior Description: Wood Shingle
  • Exterior Features: Deck
  • Pool: Yes
  • Pool Description: Association Pool
  • Roof Description: Asphalt Shingle

Garage/Parking

  • Garage Description: Attached Garage
  • Number Garage Spaces: 1
  • Number Parking Spaces: 1
  • Parking Driveway Description: 1 Car Width, Blacktop

Utilities

  • Fuel Type: Electric
  • Heating: Baseboard - Electric
  • Sewer: Septic
  • Utilities: All Underground
  • Water: Public Water
  • Water Heater: Electric

Condo/Co-op/Association

  • Amenities: Boats - Gas Powered Allowed, Club House, Lake Privileges, Playground, Pool-Outdoor
  • Association Maintenance Fee: 1500
  • Association Maintenance Fee Frequency: Annually

Fee Information

  • Other Fee Freqency: One Time

Schools

  • Elementary School: SPARTA
  • Middle School: SPARTA
  • High School: SPARTA
  • High School: SPARTA
  • Middle Jr High School: SPARTA

Lot Info

  • Lot Size: 95X106 LMCC
  • Assessed Improvement Value: 96500
  • Assessed Land Value: 134200
  • Assessment: 230700
  • Easement: Unknown
  • Lot Description: Level Lot
  • Lot Identifier: 39
  • Lot I D Tax: *
  • Lot Size Tax: *
  • Total Acres: 0.23

Rental Info

  • Application Fee: 4000
  • Pets Allowed: Yes

Tax Info

  • Tax Acres: *
  • Assessed Improvement Value: *
  • Assessed Land Value: *
  • Total Tax Assessed: *
  • Streetname Tax: *
  • Street Number Tax: *
  • Tax Amount: 7723
  • Tax Amount Tax: *
  • Assessor Parcel Number: 2818-04013-0000-00039-0000-
  • Assessor Parcel Number: *
  • Tax Rate Amount: 3.348
  • Tax Rate Tax: *
  • Tax Rate Year: 2021
  • Tax Year Tax: *
  • Tax Year: 2021

MLS Schools

  • Grade School: SPARTA

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 8, 2022
Closed on
May 5, 2022
Sold by
Pensco Trust Company Llc
Bought by
Gaffney Paul and Gaffney Julianne
Seller's Agent
MARY D FORMAN
COLDWELL BANKER REALTY
List Price
$369,000
Sold Price
$375,000
Premium/Discount to List
$6,000
1.63%
Current Estimated Value
$460,848

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$85,848
Avg. Annual Appreciation
6.47%
Original Mortgage
$362,484
Outstanding Balance
$343,885
Interest Rate
5.1%
Mortgage Type
FHA
Estimated Equity
$116,963
Source: Public Records

Range of Values:

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Average Value
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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
Gaffney Paul $375,000 New Title Company Name
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gaffney Paul $362,484
Previous Owner Mclaughlin Kevin A $115,000
Previous Owner Mclaughlin Kevin A $115,000
Previous Owner Mclaughlin Kevin A $50,000
Previous Owner Mclaughlin Kevin $11,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/27/2022 05/27/22 Sold $375,000 +1.4% $269 / Sq Ft
04/08/2022 04/08/22 Pending -- -- --
03/08/2022 03/08/22 Price Changed $369,900 +0.2% $265 / Sq Ft
03/08/2022 03/08/22 For Sale $369,000 +90.2% $265 / Sq Ft
05/23/2012 05/23/12 Sold $194,000 -- $139 / Sq Ft
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
2025 $8,280 $230,700 $134,200 $96,500
2024 $8,042 $230,700 $134,200 $96,500
2023 $8,042 $230,700 $134,200 $96,500
2022 $7,848 $230,700 $134,200 $96,500
2021 $7,724 $230,700 $134,200 $96,500
2020 $7,844 $230,700 $134,200 $96,500
2019 $7,641 $230,700 $134,200 $96,500
2018 $7,479 $230,700 $134,200 $96,500
2017 $7,387 $230,700 $134,200 $96,500
2016 $7,214 $230,700 $134,200 $96,500
2015 $7,304 $187,800 $92,900 $94,900
2014 $7,185 $187,800 $92,900 $94,900
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2022

    MARY D FORMAN

    COLDWELL BANKER REALTY

See All Agents

Map

Source: Garden State MLS

MLS Number: 3767815

Garden State MLS

APN: 18-04013-0000-00039

New Jersey Sussex County Sparta 07871

5 Summit Terrace, Sparta, NJ

This home is located at 5 Summit Terrace, Sparta, NJ 07871 since 08 March 2022 and is currently estimated at $460,848, approximately $330 per square foot. This property was built in 1973. 5 Summit Terrace is a home located in Sussex County with nearby schools including Sparta High School, Reverand George A. Brown School, and Alpine Montessori - Sparta.

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