NOT LISTED FOR SALE

505 Springfield Ave Cranford, NJ 07016

Estimated Value: $1,218,000 - $1,418,000

5 Beds
4 Baths
-- Sq Ft
0.26 Acres

Last Sold May 20, 2024

Last sale price $1,255,000

Est. 7% increase in value since last sale

Current estimated payment $8,999/month

7 Days on Market

About This Home

As of May 2024

This home is located at 505 Springfield Ave, Cranford, NJ 07016 since 21 March 2024 and is currently estimated at $1,346,812. This property was built in 1920. 505 Springfield Ave is a home located in Union County with nearby schools including Cranford Sr High School and St Michael School.

Last Agent to Sell the Property

PATRICIA O CONNOR

WEICHERT REALTORS Brokerage Phone: 908-654-7777 Listed on: 03/21/2024

Last Buyer's Agent

MYRIAM S. DUTTA

COLDWELL BANKER REALTY

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $19,934

Year Built

  • Built in 1920

Lot Details

  • 0.26 Acre Lot

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 4 Bathrooms

Home Details

Home Type

Single Family

Est. Annual Taxes

$19,934

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Year Built: 1920
  • County Name: Union
  • Street Number Display: 505
  • I D: 5276730
  • Modified: 2025-05-21
  • Number Images: 1
  • Attribution Contact: 908-654-7777
  • MLS Status: Sold
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Bedrooms: 5
  • Bathrooms: 4.00

Lot Info

  • Lot Size: 11256 SF
  • Total Acres: 0.26

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 21, 2024
Closed on
May 9, 2024
Sold by
Binko Joseph and Binko Mary Ellen
Bought by
Gokhale Prashant and Gokhale Reicha
Seller's Agent
PATRICIA O CONNOR
WEICHERT REALTORS
Buyer's Agent
MYRIAM S. DUTTA
COLDWELL BANKER REALTY
List Price
$1,250,000
Sold Price
$1,255,000
Premium/Discount to List
$5,000
0.4%
Views
72
Current Estimated Value
$1,346,812

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$91,812
Avg. Annual Appreciation
3.05%
Original Mortgage
$1,004,000
Outstanding Balance
$992,259
Interest Rate
7.1%
Mortgage Type
New Conventional
Estimated Equity
$310,016

Purchase Details

Listed on
Dec 26, 2018
Closed on
Apr 10, 2019
Sold by
Sacco Frank and Estate Of Maria S Hannon
Bought by
Binko Joseph and Binko Mary Ellen
Seller's Agent
Julie Murphy
COLDWELL BANKER REALTY
Buyer's Agent
PATRICIA O CONNOR
WEICHERT REALTORS
List Price
$799,900
Sold Price
$765,000
Premium/Discount to List
-$34,900
-4.36%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.15%
Original Mortgage
$564,000
Interest Rate
7.74%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Jul 27, 1989
Bought by
Hannon and Maria S
Source: Public Records

Range of Values:

Collateral Analytics

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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
Gokhale Prashant $1,255,000 Simplicity Title
Binko Joseph $765,000 None Available
Hannon -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gokhale Prashant $1,004,000
Previous Owner Binko Joseph $564,000
Previous Owner Hannon Maria $100,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/20/2024 05/20/24 Sold $1,255,000 +0.4% --
03/28/2024 03/28/24 Pending -- -- --
03/21/2024 03/21/24 For Sale $1,250,000 +63.4% --
04/10/2019 04/10/19 Sold $765,000 -4.4% --
02/12/2019 02/12/19 Pending -- -- --
12/26/2018 12/26/18 For Sale $799,900 -- --
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 $19,934 $299,000 $114,100 $184,900
2023 $19,934 $299,000 $114,100 $184,900
2022 $19,770 $299,000 $114,100 $184,900
2021 $19,683 $299,000 $114,100 $184,900
2020 $19,620 $299,000 $114,100 $184,900
2019 $25,135 $385,500 $114,100 $271,400
2018 $24,680 $385,500 $114,100 $271,400
2017 $23,832 $385,500 $114,100 $271,400
2016 $22,964 $385,500 $114,100 $271,400
2015 $22,363 $385,500 $114,100 $271,400
2014 $21,904 $385,500 $114,100 $271,400
Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2024

    PATRICIA O CONNOR

    WEICHERT REALTORS

  • M

    Buyer's Agent in 2024

    MYRIAM S. DUTTA

    COLDWELL BANKER REALTY

  • Julie Murphy

    Seller's Agent in 2019

    Julie Murphy

    COLDWELL BANKER REALTY

    (908) 415-6781

    58 in this area

    76 Total Sales

    Julie Murphy
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Map

Source: Garden State MLS

MLS Number: 3892022

Garden State MLS

APN: 03-00164-0000-00005

New Jersey Union County Cranford 07016

505 Springfield Ave, Cranford, NJ

This home is located at 505 Springfield Ave, Cranford, NJ 07016 since 21 March 2024 and is currently estimated at $1,346,812. This property was built in 1920. 505 Springfield Ave is a home located in Union County with nearby schools including Cranford Sr High School and St Michael School.

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