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14 Madison Ave
Montclair Twp., NJ

14 Madison Ave

$1,975,000
5 bd • 4 ba • sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$1,975,000

Price/Sq.Ft

$1975000

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

The property at 14 Madison Ave, Montclair Twp., NJ 07042 boasts several attractive features. Its location on Madison Avenue places it in a desirable area of Montclair, likely close to amenities and with good commute options. The house is spacious, offering 5 bedrooms and 4 bathrooms, making it suitable for larger families or those needing extra space. The exterior presents a charming craftsman-style architecture with a wide front porch, stone accents, and multiple dormers, indicating thoughtful design and curb appeal. The property appears well-maintained with professional landscaping and a circular driveway, adding convenience and aesthetic value. The large lot size, evident from the expansive front yard, provides ample outdoor space, which is increasingly valuable in today's market. The home's grey siding with white trim is a popular, modern color scheme that should appeal to many buyers.

The Bad

At $1,975,000, this property is priced significantly above the median income for the area ($128,581), limiting the pool of potential buyers. Without specific square footage information, it's challenging to determine if the price per square foot is competitive. The lack of listed features and property description is concerning, as it doesn't highlight any potential upgrades or unique selling points. Given Montclair's reputation for high property taxes, the annual tax burden is likely substantial and should be factored into the total cost of ownership. The unknown year built raises questions about potential maintenance issues or needed updates, especially considering Montclair's older housing stock.

The Ugly

Montclair's notoriously high property taxes could be a significant financial burden for potential buyers. Assuming a conservative 2.5% of the home's value, annual property taxes could be around $49,375, or over $4,100 per month. This, combined with a potential mortgage payment, could push monthly ownership costs well over $10,000, far exceeding what even high-income earners might comfortably afford. The lack of information about the home's age and systems raises red flags about potential costly repairs or updates that may be necessary in the near future. Given Montclair's hilly terrain, there could be issues with the property's grading, potentially leading to water drainage problems or difficult winter maintenance.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for high-income buyers, likely with household earnings of $350,000+ annually to comfortably afford the mortgage and high property taxes. It's ideal for larger families needing 5 bedrooms, or those desiring extra space for home offices or guest rooms. The home would appeal to buyers who value classic architecture and are willing to invest in a property with character. It's well-suited for those prioritizing a prime location in Montclair, possibly for its school district or commute options to NYC. The spacious lot makes it attractive for gardening enthusiasts or those wanting privacy and outdoor entertaining space.

Not For

This property is not suitable for first-time homebuyers or those with moderate incomes, given its high price point and potential for significant property taxes and maintenance costs. It's not ideal for buyers looking for a low-maintenance or move-in ready home, as older properties often require ongoing upkeep and potential renovations. Those seeking modern, open-concept layouts might find the traditional style less appealing. Investors looking for rental properties might find the high purchase price challenging to recoup through local rental rates, even for larger homes.
Demographics
Area Median Income

$128,581

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Risk Assessment

Risk Analysis

The unknown age of the home poses risks of outdated systems (electrical, plumbing, HVAC) that could require costly updates. The high property taxes in Montclair present a significant ongoing financial burden and the potential for further increases. The home's size and potential age could lead to high maintenance and utility costs. Montclair's competitive market might lead to pressure to waive contingencies, increasing the risk of undiscovered issues. The area's microclimate variations could affect the property's comfort and energy efficiency. Long-term, changes in the NYC job market or commute patterns could impact Montclair's desirability and property values.

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