Skip to content
Skip to content
TopHapOpen in map
Single Family ResidenceResidential
$1,841,552$542 / 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 91How 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 $760,500 on Apr 29, 2011

56 PROSPECT ST

MADISON, NJ 07940
0
Baths
3,399 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.
0.34 ac
Lot SizeThe size of the land the home sits on, from county records.
1910
Year BuiltThe year the home was originally built, according to county records.
2
StoriesHow many floors the home has above ground.

Valuation

$1.8M
$1.7M low$2M high
Last SaleThe most recent sale price and date from the recorded deed. Transfers between family members or companies may not reflect market value.$760,500 · Apr 29, 2011

Tax & Assessment

Property TaxThe property tax billed for this tax year. It usually pays for schools, roads, and local services.$20,011 (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.$939,500 (2026)
Assessed LandThe share of the county's assessed value that comes from the land itself, not the buildings.$425,300
Assessed ImprovementsThe share of the county's assessed value that comes from the buildings and other structures on the land.$514,200
Previous AssessedThe county's assessed value from the year before, useful for seeing how the assessment changed.$939,500
Assessor Market ValueThe county assessor's own opinion of market value. It is separate from our estimate and updates on the county's schedule.$939,500

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.0.34
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

Transaction History(3)

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%

Owner Tools

Do you own this home?
Claim this home

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

56 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 97% of homes in Morris County
  • Costs more per square foot than 91% of homes in Morris County
  • Bigger than 88% of homes in Morris County
  • Has a bigger lot than 74% of homes in Madison 07940
  • Older than 95% 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
$559K$3.2M

This home is worth more than 82% 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$1,841,552
CheaperTypical $1,129,750Pricier

Pricier than 82% of homes nearby

Price per ft²$542
CheaperTypical $544Pricier

Pricier than 50% of homes nearby

Living area3,399 ft²
SmallerTypical 2,184 ft²Bigger

Bigger than 83% of homes nearby

Lot size0.34 ac
SmallerTypical 0.24 acBigger

Bigger than 74% of homes nearby

Year built1910
OlderTypical 1953Newer

Newer than 10% of homes nearby

How 56 Prospect St ranks against every home in each area.
MeasureThis homeMadison 07940Morris County
Estimated valuepricier than$1,841,55282% of homes97% of homes
Price per ft²pricier than$54250% of homes91% of homes
Living areabigger than3,399 ft²83% of homes88% of homes
Lot sizebigger than0.34 ac74% of homes51% of homes
Year builtnewer than191010% of homes5% of homes

About 56 Prospect St

How much is 56 Prospect St, Madison, NJ worth?

The TopHap Estimate for 56 Prospect St, Madison, NJ is $1,841,552 as of Jul 14, 2026. The likely range is $1,668,873 to $2,014,231. The estimate is modelled from recorded sales, assessments and the property's own characteristics — it is not an appraisal.

When did 56 Prospect St, Madison, NJ last sell?

56 Prospect St, Madison, NJ last sold on Apr 29, 2011 for $760,500, according to the county's recorded deed.

How big is 56 Prospect St, Madison, NJ?

56 Prospect St, Madison, NJ has 3,399 square feet of living space and a 0.34-acre lot.

When was 56 Prospect St, Madison, NJ built?

56 Prospect St, Madison, NJ was built in 1910, making it 116 years old. The building has 2 stories.

What schools serve 56 Prospect St, Madison, NJ?

56 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 56 Prospect St, Madison, NJ compare to other homes in Madison 07940?

Among the 4,474 homes in Madison 07940, it is worth more than 82% of them ($1,841,552 against a typical $1,129,750), its price per square foot is higher than 50% of them ($542 against a typical $544), it is bigger than 83% of them (3,399 ft² against a typical 2,184 ft²), its lot is bigger than 74% of them (0.34 ac against a typical 0.24 ac) and it is newer than 10% of them (1910 against a typical 1953). Measured against all of Morris County, it is worth more than 97% 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 56 Prospect St, Madison, NJ?

The 2024 property tax bill for 56 Prospect St, Madison, NJ was $20,011. The county assessed it at $939,500.

More homes on Prospect St

Closest homes

More homes in Madison 07940

Assigned schools

Explore the area

See this home in context

Open 56 Prospect St on TopHap’s interactive map to compare it against every sale nearby, overlay school zones and flood risk, and run a CMA.

Open in map
A flyover of TopHap's photorealistic 3D map, with recorded sale prices pinned to homes
Search any address, city, zip, or county…3D$1.9M$6.25MOpen in map