NOT LISTED FOR SALE

7 Prospect Place Madison, NJ 07940

Estimated Value: $1,341,000 - $1,589,000

2 Beds
1 Bath
2,832 Sq Ft
$518/Sq Ft Est. Value

About This Home

This home is located at 7 Prospect Place, Madison, NJ 07940 and is currently estimated at $1,466,473, approximately $517 per square foot. 7 Prospect Place is a home located in Morris County with nearby schools including Torey J. Sabatini School, Madison Junior School, and Madison High School.

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 11, 2025
Sold by
Chien Allen T and Tsao Cheng Yen
Bought by
Allen Tzu-Hsiang Chien 2025 Revocable Trust and Cheng Yen Tsao 2025 Revocable Trust
Current Estimated Value
$1,466,473

Purchase Details

Closed on
Aug 28, 2014
Sold by
Shojai Shervin and Shojai Annemarie
Bought by
Chien Allen T and Tsao Cheng Yen

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$724,000
Interest Rate
4.12%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 15, 1997
Sold by
Anderson Rose L and Genovese Ruby E
Bought by
Shojai Shervin and Shojai Annemarie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
8.09%
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
Allen Tzu-Hsiang Chien 2025 Revocable Trust -- None Listed On Document
Chien Allen T $905,000 Fidelity Natl Title Ins Co
Shojai Shervin $108,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Tsao Cheng Yen $529,000
Previous Owner Tsao Cheng Yen $529,000
Previous Owner Chien Allen T $724,000
Previous Owner Shojai Shervin $252,795
Previous Owner Shojai Shervin $209,300
Previous Owner Shojai Shervin $109,875
Previous Owner Shojai Shervin $68,000
Previous Owner Shojai Shervin $110,000
Previous Owner Shojai Shervin $300,000
Source: Public Records

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 $17,092 $830,100 $291,800 $538,300
2023 $17,092 $830,100 $291,800 $538,300
2022 $16,552 $817,000 $291,800 $525,200
2021 $16,552 $817,000 $291,800 $525,200
2020 $16,381 $817,000 $291,800 $525,200
2019 $16,678 $845,300 $291,800 $553,500
2018 $16,255 $845,300 $291,800 $553,500
2017 $16,128 $845,300 $291,800 $553,500
2016 $15,486 $825,900 $291,800 $534,100
2015 $15,197 $825,900 $291,800 $534,100
2014 $14,685 $825,900 $291,800 $534,100
Source: Public Records

Map

New Jersey Morris County Madison 07935

7 Prospect Place, Madison, NJ

This home is located at 7 Prospect Place, Madison, NJ 07940 and is currently estimated at $1,466,473, approximately $517 per square foot. 7 Prospect Place is a home located in Morris County with nearby schools including Torey J. Sabatini School, Madison Junior School, and Madison High School.

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.

Nearby Homes