$400,000
SOLD OCT 25, 2024

524 Summer St Paterson, NJ 07501

Eastside Neighborhood
2 Beds
1 Bath
2,140 Sq Ft
2,500 Sq Ft Lot

Recently Sold

$187 Per Sq Ft

15% Above List Price

34 Days on Market

About This Home

As of October 2024

Great opportunity to own and have rental income. Finished walk up attic that was recently renovated. There are plumbing connections in the attic. Both units have the same layout with 2 bedrooms and 1 bathroom. Roof was replace in 2022. The property is being sold as-is. Access to major highways.

Last Agent to Sell the Property

Amy Gilbert-Pagan

Coldwell Banker, Kinnelon/Butler Listed on: 08/07/2024

Coldwell Banker, Kinnelon/Butler

Last Buyer's Agent

Amy Gilbert-Pagan

Coldwell Banker, Kinnelon/Butler Listed on: 08/07/2024

Coldwell Banker, Kinnelon/Butler

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,423

Lot Details

  • 2,500 Sq Ft Lot

Home Design

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Full Bathroom

Community Details

  • No Laundry Facilities

Listing and Financial Details

  • Legal Lot and Block 00025 / 06302

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,423

Lot Details

0

Listing Details

  • Property Type: 2-4 Family
  • Su Prop: 2-4 Family
  • ResoLaundryFeatures: None
  • Co List Office Phone: (973) 962-7007
  • MLS Status: Sold - Sold
  • Directions: 20th Ave to Summer St
  • Architectural Style: 2 Family
  • Year Built Details: 1970's,Build Prior to 1978
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Full Bathrooms: 1
  • Total Bedrooms: 2

Exterior Features

  • Disclosures: Seller's Agent, Seller Disclosure - Yes

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected

Lot Info

  • Lot Size Sq Ft: 2500.0

Tax Info

  • Tax Annual Amount: 8423.0
  • Tax Block: 06302
  • Tax Lot: 00025

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 7, 2024
Closed on
Oct 8, 2024
Sold by
Pagan Miguel and Pagan Herodia
Bought by
524 Summer St Llc
Seller's Agent
Amy Gilbert-Pagan
Coldwell Banker, Kinnelon/Butler
Buyer's Agent
Amy Gilbert-Pagan
Coldwell Banker, Kinnelon/Butler
List Price
$349,000
Sold Price
$400,000
Premium/Discount to List
$51,000
14.61%
Views
59
Current Estimated Value
$421,485

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$21,485
Avg. Annual Appreciation
8.25%
Original Mortgage
$300,000
Outstanding Balance
$298,226
Interest Rate
6.12%
Mortgage Type
Credit Line Revolving
Estimated Equity
$123,259
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 Type Sale Price Title Company
Deed $400,000 None Listed On Document
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $300,000 Credit Line Revolving
Previous Owner $152,433 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/25/2024 10/25/24 Sold $400,000 +14.6% $187 / Sq Ft
09/10/2024 09/10/24 Pending -- -- --
08/07/2024 08/07/24 For Sale $349,000 -- $163 / Sq Ft
Source: New Jersey 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 $8,423 $171,800 $21,900 $149,900
2022 $7,975 $171,800 $21,900 $149,900
2021 $7,690 $171,800 $21,900 $149,900
2020 $7,173 $171,800 $21,900 $149,900
2019 $6,945 $168,000 $21,600 $146,400
2018 $7,164 $165,600 $21,500 $144,100
2017 $6,835 $164,300 $21,400 $142,900
2016 $8,274 $190,700 $22,500 $168,200
2015 $7,834 $190,700 $22,500 $168,200
2014 $7,236 $249,500 $108,500 $141,000
Source: Public Records

Agents Affiliated with this Home

  • Amy Gilbert-Pagan

    Seller's Agent in 2024

    Amy Gilbert-Pagan

    Coldwell Banker, Kinnelon/Butler

    (973) 851-5318

    1 in this area

    18 Total Sales

    Amy Gilbert-Pagan
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Map

Source: New Jersey MLS

MLS Number: 24025614

New Jersey MLS

APN: 08-06302-0000-00025

New Jersey Passaic County Paterson 07501 Eastside

524 Summer St, Paterson, NJ

This home is located at 524 Summer St, Paterson, NJ 07501 and is currently priced at $400,000, approximately $186 per square foot. 524 Summer St is a home located in Passaic County with nearby schools including Dale Avenue Elementary School, Edward W. Kilpatrick School of Discovery, and Paterson Public School No. 3.

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.

New Jersey MLS 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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