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Single Family ResidenceResidential
$1,450,796$896 / ft²
TopHap EstimateOur estimate of what this home would sell for today, based on nearby sales, the home's size and features, and local price trends. It is a starting point, not an appraisal.· confidence 89How well the pricing models agreed with each other on this home. Higher means the estimate rests on stronger, more consistent data.· as of Jul 14, 2026
Last sold for $650,000 on Sep 24, 2013

48 PROSPECT ST

MADISON, NJ 07940
0
Baths
1,620 ft²
Living AreaTotal finished area of the structures, from county records. Some counties include shared space like hallways or a building gym, so it may not match a listing.
0.26 ac
Lot SizeThe size of the land the home sits on, from county records.
1961
Year BuiltThe year the home was originally built, according to county records.
2
StoriesHow many floors the home has above ground.

Valuation

$1.5M
$1.3M low$1.6M high
Last SaleThe most recent sale price and date from the recorded deed. Transfers between family members or companies may not reflect market value.$650,000 · Sep 24, 2013
Est. Owner EquityRoughly how much of the home's value the owner would keep after paying off known loans. It is our estimate minus the loans still owed.$1,099,796
Est. Lendable EquityThe part of the owner's equity a lender would typically let them borrow against — about 80% of their equity.$879,837
Loan-to-ValueHow much is still owed on the home compared to what it is worth. 80% means loans equal 80% of our estimate, so it shifts when the estimate does.27%
1st MortgageA loan still believed to be open on this home, in the order lenders get repaid. The first position is paid back before the second.$351,000
BANK OF AMERICA NA · recorded Dec 29, 2020

Tax & Assessment

Property TaxThe property tax billed for this tax year. It usually pays for schools, roads, and local services.$12,686 (2024)
Assessed ValueThe value the county assigns to this home to calculate property tax. It is often lower than what the home would sell for.$756,600 (2026)
Assessed LandThe share of the county's assessed value that comes from the land itself, not the buildings.$404,500
Assessed ImprovementsThe share of the county's assessed value that comes from the buildings and other structures on the land.$352,100
Previous AssessedThe county's assessed value from the year before, useful for seeing how the assessment changed.$595,600
Assessor Market ValueThe county assessor's own opinion of market value. It is separate from our estimate and updates on the county's schedule.$756,600

Property Facts

Property TypeThe broad category the county puts this property in, such as residential or commercial.Single Family Residence
StyleThe architectural style of the home, such as ranch or colonial.Colonial
CountyMORRIS
Lot (acres)The size of the land the home sits on, from county records.0.26
ConstructionThe main material the home's frame and walls are built from.Frame (Unspecified)
GarageWhether the property has a garage, and details like whether it is attached to the home.Garage, Attached
PoolWhether the property has a pool, and what kind, such as in-ground.No

Transaction History(1)

Sales and refinances filed with the county for this home. Not every transfer is a normal sale, so check the type before comparing prices.

Assigned SchoolsThe public schools this address is zoned for. Boundaries change, so confirm with the district before you count on it.

M
Madison Junior SchoolB
Middle · Grades 6–8 · 0.4 mi
E
Torey J. Sabatini Elementary SchoolA-
Elementary · Grades KG–5 · 0.7 mi
H
Madison High SchoolA-
High · Grades 9–12 · 1.2 mi

District: Madison Borough School District

Neighborhood · ZIP 07940These are comparison scores, not percentages. 100 equals the national average, so 150 means about 50% above average.

CrimeLocal crime compared with the rest of the country, where 100 is average. It reflects things like population density, income, and how crime gets reported.54
Air pollutionOverall air pollution compared with the rest of the country, where 100 is average. Lower is cleaner.98
EarthquakeEarthquake risk and likely building damage compared with the rest of the country, where 100 is average. Scores can run far above 100.104

Index scale: 100 = US average (tick). Lower is better.

Homes occupiedThe share of homes here that someone lives in. The rest sit empty, including vacation and for-sale homes.96%
Bachelor's or higherThe share of adults 25 and older whose highest degree is a bachelor's degree.42%
Poverty rateThe share of people whose household income falls below the federal poverty line, which varies by family size.3.8%
UnemploymentThe share of men 16 and older who are out of work and actively looking. Only men are counted in this figure.1.3%
PopulationHow many people live in this area.17,707
DensityPeople per square mile. Higher numbers mean a more crowded, urban area.3,782 / mi²
Median incomeThe middle household income here — half of households earn more, half earn less.$157,455
Average incomeThe average household income. It runs higher than the median when a few high earners pull it up.$211,017
Average tempThe average temperature here across a full year.51°F
Annual precipHow much rain and melted snow falls here in a typical year.52 in
SunshineThe share of daylight hours that get direct sun in a typical year, counting cloud cover.56%

Ownership

OccupancyWhether the owner appears to live here or somewhere else. It is inferred from the mailing address on record.Owner occupied
Company ownedWhether the owner is a company or trust rather than a person.No

Data by ATTOM. Valuations are automated estimates, not appraisals. Photos from Google Street View and may not depict the current property state.

How this home compares

48 Prospect St measured against every home in its neighborhood, its ZIP code and its county, using county assessor records refreshed nightly. A home can stand out in one of those areas and look ordinary in another, because each one holds a different mix of homes.

  • Worth more than 93% of homes in Morris County
  • Among the highest price per square foot in Morris County
  • Smaller than 79% of homes in Madison 07940

What homes are worth in Madison 07940

Each bar is how many homes fall in that price range. The marker is this home.

This home
$569K$3.2M

This home is worth more than 69% of homes in Madison 07940.

How it measures up in Madison 07940

The dot is this home. The mark in the middle is the typical home in Madison 07940.

Estimated value$1,450,796
CheaperTypical $1,131,541Pricier

Pricier than 69% of homes nearby

Price per ft²$896
CheaperTypical $542Pricier

Pricier than almost all homes nearby

Living area1,620 ft²
SmallerTypical 2,184 ft²Bigger

Bigger than 21% of homes nearby

Lot size0.26 ac
SmallerTypical 0.24 acBigger

Bigger than 55% of homes nearby

Year built1961
OlderTypical 1953Newer

Newer than 64% of homes nearby

How 48 Prospect St ranks against every home in each area.
MeasureThis homeMadison 07940Morris County
Estimated valuepricier than$1,450,79669% of homes93% of homes
Price per ft²pricier than$896almost all homesalmost all homes
Living areabigger than1,620 ft²21% of homes32% of homes
Lot sizebigger than0.26 ac55% of homes39% of homes
Year builtnewer than196164% of homes41% of homes

About 48 Prospect St

How much is 48 Prospect St, Madison, NJ worth?

The TopHap Estimate for 48 Prospect St, Madison, NJ is $1,450,796 as of Jul 14, 2026. The likely range is $1,290,063 to $1,611,529. The estimate is modelled from recorded sales, assessments and the property's own characteristics — it is not an appraisal.

When did 48 Prospect St, Madison, NJ last sell?

48 Prospect St, Madison, NJ last sold on Sep 24, 2013 for $650,000, according to the county's recorded deed.

How big is 48 Prospect St, Madison, NJ?

48 Prospect St, Madison, NJ has 1,620 square feet of living space and a 0.26-acre lot.

When was 48 Prospect St, Madison, NJ built?

48 Prospect St, Madison, NJ was built in 1961, making it 65 years old. It is a colonial home. The building has 2 stories.

What schools serve 48 Prospect St, Madison, NJ?

48 Prospect St, Madison, NJ is assigned to Madison Junior School (middle), rated B; Torey J. Sabatini Elementary School (elementary), rated A-; Madison High School (high), rated A-. All sit in Madison Borough School District. Attendance boundaries change — confirm with the district before relying on an assignment.

How does 48 Prospect St, Madison, NJ compare to other homes in Madison 07940?

Among the 4,474 homes in Madison 07940, it is worth more than 69% of them ($1,450,796 against a typical $1,131,541), its price per square foot is higher than almost all of them ($896 against a typical $542), it is bigger than 21% of them (1,620 ft² against a typical 2,184 ft²), its lot is bigger than 55% of them (0.26 ac against a typical 0.24 ac) and it is newer than 64% of them (1961 against a typical 1953). Measured against all of Morris County, it is worth more than 93% of homes there. These shares are recounted nightly from the full county assessor record for each area, not from active listings.

What are the property taxes on 48 Prospect St, Madison, NJ?

The 2024 property tax bill for 48 Prospect St, Madison, NJ was $12,686. The county assessed it at $756,600.

Closest homes

More homes in Madison 07940

Assigned schools

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