NOT LISTED FOR SALE

505 Lake St Unit 507 Newark, NJ 07104

Forest Hill Neighborhood

Estimated Value: $747,953

5 Beds
2.5 Baths
-- Sq Ft
4,792 Sq Ft Lot

Last Sold December 29, 2022

Last sale price $635,500

Est. 18% increase in value since last sale

Current estimated payment $4,688/month

46 Days on Market

Highlights

  • Colonial Architecture
  • Wood Flooring
  • Formal Dining Room
  • Deck
  • Corner Lot
  • 2 Car Detached Garage

About This Home

As of December 2022

Welcome home to this COMPLETELY RENOVATED 5-bed 2.5-bath home in sought after Forest Hill historical neighborhood. This one checks all the boxes: an incredible open floor plan with gorgeous hardwood floors throughout, everyone?s DREAM KITCHEN with massive center island, white quartz counters and top-of-the-line stainless steel apps, bright office/sunroom, master bedroom, new central HVAC system, new roof, all new windows, huge finished basement, detached 2-car garage with double driveway, beautifully landscaped with a welcoming deck to entertain. Across the street from idyllic Branch Brook Park and a commuters dream to NYC. LOW TAXES!!! Come fall in love with this home today and make it yours!!!

Last Agent to Sell the Property

Yaritza Bonasio

UNITED REAL ESTATE Brokerage Phone: 201-212-3335 Listed on: 10/17/2022

UNITED REAL ESTATE

Last Buyer's Agent

Michelle Maia

REALTY OF AMERICA

REALTY OF AMERICA

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $7,359

Year Built

  • Built in 1949 | Remodeled

Lot Details

  • 4,792 Sq Ft Lot
  • Corner Lot

Parking

  • 2 Car Detached Garage

Home Design

  • Colonial Architecture
  • Vinyl Siding

Interior Spaces

  • Formal Dining Room
  • Wood Flooring
  • Finished Basement
  • Basement Fills Entire Space Under The House
  • Carbon Monoxide Detectors

Kitchen

  • Butlers Pantry
  • Gas Oven or Range
  • Microwave
  • Dishwasher
  • Kitchen Island

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Primary bedroom located on second floor
  • En-Suite Primary Bedroom

Outdoor Features

  • Deck

Utilities

  • Forced Air Heating and Cooling System
  • One Cooling System Mounted To A Wall/Window

Listing and Financial Details

  • Assessor Parcel Number 1614-00633-0000-00001-0000-
  • Tax Block *

Home Details

Home Type

Single Family

Est. Annual Taxes

$7,359

Year Built

Built in 1949 | Remodeled

Lot Details

0

Parking

2

Listing Details

  • Style: Colonial
  • Primary Style: Colonial
  • Subproperty Type: Single Family
  • Year Built: 1949
  • Year Built Description: Renovated
  • County Name: Essex
  • Renovated Year: 2022
  • Street Number Display: 505
  • Directions: Branch Brook Park Dr into Lake St
  • I D: 5185335
  • Modified: 2023-12-30
  • Number Images: 35
  • First Name: YARITZA
  • First Name3: MICHELLE
  • Last Name: BONASIO
  • Last Name3: MAIA
  • Office Phone: 888-501-6953
  • Office Phone3: 908-325-5300
  • Attribution Contact: 201-212-3335
  • Special Features: NewHome
  • Property Sub Type: Detached
  • Year Renovated: 2022

Interior Features

  • Flooring: Wood
  • Appliances: Carbon Monoxide Detector, Dishwasher, Microwave Oven, Range/Oven-Gas, Refrigerator
  • Number Rooms: 11
  • Bedrooms: 5
  • Master Bedroom Desc: Full Bath
  • Bedroom 1 Level: Second
  • Bedroom 2 Level: Second
  • Bedroom 3 Level: Second
  • Bathrooms: 2.10
  • Full Bathrooms: 2
  • Half Bathrooms: 1
  • Basement: Yes
  • Basement Description: Finished, Full
  • Dining Room Level: First
  • Dining Area: Formal Dining Room
  • Family Room Level: First
  • Kitchen Area: Center Island, Pantry, Separate Dining Area
  • Kitchen Level: First
  • Living Room Level: First
  • Phone: 888-501-6953

Exterior Features

  • Exterior Description: Vinyl Siding
  • Exterior Features: Deck
  • Roof Description: Asphalt Shingle

Garage/Parking

  • Garage Description: Detached Garage
  • Number Garage Spaces: 2
  • Number Parking Spaces: 2
  • Parking Driveway Description: 2 Car Width, Blacktop

Utilities

  • Cooling: 1 Unit, Central Air
  • Fuel Type: Gas-Natural
  • Heating: 1 Unit, Forced Hot Air
  • Sewer: Public Sewer
  • Utilities: Gas-Natural
  • Water: Public Water

Lot Info

  • Lot Size: 50X100
  • Assessed Improvement Value: 139600
  • Assessed Land Value: 57500
  • Assessment: 197100
  • Lot Description: Corner
  • Lot Identifier: 1
  • Lot I D Tax: *
  • Lot Size Tax: *
  • Total Acres: 0.11

Tax Info

  • Tax Acres: *
  • Assessed Improvement Value: *
  • Assessed Land Value: *
  • Total Tax Assessed: *
  • Streetname Tax: *
  • Street Number Tax: *
  • Tax Amount: 7359
  • Tax Amount Tax: *
  • Assessor Parcel Number: 1614-00633-0000-00001-0000-
  • Assessor Parcel Number: *
  • Tax Rate Amount: 3.734
  • Tax Rate Tax: *
  • Tax Rate Year: 2021
  • Tax Year Tax: *
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 17, 2022
Closed on
Jan 4, 2023
Sold by
Bonasio Lucas
Bought by
Newsome Edward William
Seller's Agent
Yaritza Bonasio
UNITED REAL ESTATE
Buyer's Agent
Michelle Maia
REALTY OF AMERICA
List Price
$650,000
Sold Price
$635,500
Premium/Discount to List
-$14,500
-2.23%
Views
26
Current Estimated Value
$747,953

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$112,453
Avg. Annual Appreciation
6.34%
Original Mortgage
$650,000
Outstanding Balance
$630,509
Interest Rate
6.58%
Mortgage Type
VA
Estimated Equity
$117,444

Purchase Details

Closed on
Mar 21, 2019
Sold by
Gilbert David Est
Bought by
Bonasio Lucas

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$96,000
Interest Rate
4.12%

Purchase Details

Closed on
Sep 29, 2017
Sold by
Vazquez Rosa
Bought by
Gilbert David

Purchase Details

Closed on
Sep 30, 1993
Sold by
Stanziale Charles
Bought by
Gilbert David and Gilbert Rosa

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$96,000
Interest Rate
7%
Source: Public Records

Range of Values:

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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
Newsome Edward William $650,000 Surety Title
Bonasio Lucas $250,000 --
Gilbert David -- --
Gilbert David $120,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Newsome Edward William $650,000
Previous Owner Gilbert David $96,000
Previous Owner Gilbert David $96,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/29/2022 12/29/22 Sold $635,500 -2.2% --
12/02/2022 12/02/22 Pending -- -- --
10/17/2022 10/17/22 For Sale $650,000 -- --
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
2025 $7,348 $439,300 $57,500 $381,800
2024 $7,348 $439,300 $57,500 $381,800
2022 $7,364 $197,100 $57,500 $139,600
2021 $7,360 $197,100 $57,500 $139,600
2020 $7,490 $197,100 $57,500 $139,600
2019 $7,413 $197,100 $57,500 $139,600
2018 $7,279 $197,100 $57,500 $139,600
2017 $7,017 $197,100 $57,500 $139,600
2016 $6,780 $197,100 $57,500 $139,600
2015 $6,522 $197,100 $57,500 $139,600
2014 $6,112 $197,100 $57,500 $139,600
Source: Public Records

Agents Affiliated with this Home

  • Yaritza Bonasio

    Seller's Agent in 2022

    Yaritza Bonasio

    UNITED REAL ESTATE

    (201) 212-3335

    3 in this area

    15 Total Sales

    Yaritza Bonasio
    Section Image
  • Michelle Maia

    Buyer's Agent in 2022

    Michelle Maia

    REALTY OF AMERICA

    (973) 368-7740

    1 in this area

    50 Total Sales

    Michelle Maia
    Section Image
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Map

Source: Garden State MLS

MLS Number: 3813108

Garden State MLS

APN: 14-00633-0000-00001

New Jersey Essex County Newark 07104 Forest Hill

505 Lake St Unit 507, Newark, NJ

This home is located at 505 Lake St Unit 507, Newark, NJ 07104 since 17 October 2022 and is currently estimated at $747,953. This property was built in 1949. 505 Lake St Unit 507 is a home located in Essex County with nearby schools including First Avenue Elementary School, Rafael Hernandez School, and Ridge Street Elementary School.

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