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Single Family ResidenceResidential
$1,140,759$317 / 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 88How 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 $223,000 on May 15, 1998

5 PROSPECT PL

MADISON, NJ 07940
0
Baths
3,602 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.
0.2 ac
Lot SizeThe size of the land the home sits on, from county records.
1900
Year BuiltThe year the home was originally built, according to county records.
2
StoriesHow many floors the home has above ground.

Valuation

$1.1M
$1M low$1.3M high
Last SaleThe most recent sale price and date from the recorded deed. Transfers between family members or companies may not reflect market value.$223,000 · May 15, 1998
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.$453,759
Est. Lendable EquityThe part of the owner's equity a lender would typically let them borrow against — about 80% of their equity.$363,007
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.56%
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.$316,000
CENTRAL JERSEY MORTGAGE CORP · recorded May 19, 2008
2nd 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.$371,000
AMERICAN FINANCIAL RESOURCES INC

Tax & Assessment

Property TaxThe property tax billed for this tax year. It usually pays for schools, roads, and local services.$15,843 (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.$743,800 (2026)
Assessed LandThe share of the county's assessed value that comes from the land itself, not the buildings.$299,000
Assessed ImprovementsThe share of the county's assessed value that comes from the buildings and other structures on the land.$444,800
Previous AssessedThe county's assessed value from the year before, useful for seeing how the assessment changed.$743,800
Assessor Market ValueThe county assessor's own opinion of market value. It is separate from our estimate and updates on the county's schedule.$743,800

Property Facts

Property TypeThe broad category the county puts this property in, such as residential or commercial.Single Family Residence
CountyMORRIS
Lot (acres)The size of the land the home sits on, from county records.0.20
ConstructionThe main material the home's frame and walls are built from.Frame (Unspecified)
PoolWhether the property has a pool, and what kind, such as in-ground.No

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

E
Torey J. Sabatini Elementary SchoolA-
Elementary · Grades KG–5 · 0.4 mi
M
Madison Junior SchoolB
Middle · Grades 6–8 · 1.4 mi
H
Madison High SchoolA-
High · Grades 9–12 · 1.9 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

5 Prospect Pl 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 85% of homes in Morris County
  • Among the lowest price per square foot in Madison 07940
  • Bigger than 91% of homes in Morris County
  • Has a smaller lot than 70% of homes in Morris County
  • Older than 97% of homes in Morris County

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
$581K$3.1M

This home is worth more than 51% 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$1,140,759
CheaperTypical $1,136,105Pricier

Pricier than 51% of homes nearby

Price per ft²$317
CheaperTypical $544Pricier

Cheaper than almost all homes nearby

Living area3,602 ft²
SmallerTypical 2,182 ft²Bigger

Bigger than 86% of homes nearby

Lot size0.2 ac
SmallerTypical 0.24 acBigger

Bigger than 34% of homes nearby

Year built1900
OlderTypical 1953Newer

Newer than 8% of homes nearby

How 5 Prospect Pl ranks against every home in each area.
MeasureThis homeMadison 07940Morris County
Estimated valuepricier than$1,140,75951% of homes85% of homes
Price per ft²pricier than$317almost no homes27% of homes
Living areabigger than3,602 ft²86% of homes91% of homes
Lot sizebigger than0.2 ac34% of homes30% of homes
Year builtnewer than19008% of homes3% of homes

About 5 Prospect Pl

How much is 5 Prospect Pl, Madison, NJ worth?

The TopHap Estimate for 5 Prospect Pl, Madison, NJ is $1,140,759 as of Jul 14, 2026. The likely range is $1,000,438 to $1,281,080. The estimate is modelled from recorded sales, assessments and the property's own characteristics — it is not an appraisal.

When did 5 Prospect Pl, Madison, NJ last sell?

5 Prospect Pl, Madison, NJ last sold on May 15, 1998 for $223,000, according to the county's recorded deed.

How big is 5 Prospect Pl, Madison, NJ?

5 Prospect Pl, Madison, NJ has 3,602 square feet of living space and a 0.20-acre lot.

When was 5 Prospect Pl, Madison, NJ built?

5 Prospect Pl, Madison, NJ was built in 1900, making it 126 years old. The building has 2 stories.

What schools serve 5 Prospect Pl, Madison, NJ?

5 Prospect Pl, Madison, NJ is assigned to Torey J. Sabatini Elementary School (elementary), rated A-; Madison Junior School (middle), rated B; 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 5 Prospect Pl, Madison, NJ compare to other homes in Madison 07940?

Among the 4,474 homes in Madison 07940, it is worth more than 51% of them ($1,140,759 against a typical $1,136,105), its price per square foot is higher than almost none of them ($317 against a typical $544), it is bigger than 86% of them (3,602 ft² against a typical 2,182 ft²), its lot is bigger than 34% of them (0.2 ac against a typical 0.24 ac) and it is newer than 8% of them (1900 against a typical 1953). Measured against all of Morris County, it is worth more than 85% 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 5 Prospect Pl, Madison, NJ?

The 2024 property tax bill for 5 Prospect Pl, Madison, NJ was $15,843. The county assessed it at $743,800.

Closest homes

More homes in Madison 07940

Assigned schools

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