Single Family Home For Sale in Franklin Lakes, NJ

MLS# : 25010119

Street : 497 Island Way
Price : $1,589,000
Town : Franklin Lakes, NJ 07417
Annual Taxes : $12,834

PROPERTY DETAILS

# of Rooms : 9
Bedrooms : 3
Full Baths : 3
Half Baths : 0
Basement : Prt Finished
Garage : Attached
Year Built : 1950's
Lot Size : Cul-de-sac
Style : Split Level
Exterior : Stone
Heat/Cool : Gas, Hot Air, Multi-Zone

PROPERTY DESCRIPTION

Your Private Retreat Awaits! Sitting on a peaceful cul-de-sac, this home offers a rare combination of privacy & luxury. Step into the grand entry hall & you'll know you've found something special. The home's exterior is a blend of wood shingles & stone. The 1st floor boasts spacious living areas. The den, w/built-ins and a cozy fireplace, offers the perfect space to unwind. You'll find a laundry room, gym, & full bath conveniently located on this level. The formal living room opens to a gourmet kitchen & dining area with another fireplace. Upstairs, the master suite offers a fireplace, an oversized master bath & one-of-a-kind dressing room. Additionally, there are 2 spacious, bedrooms & a bath. The basement features a media room w/ a wall of built-ins. The property boasts an in-ground pool, a tennis court, and a deck, for outdoor entertaining or for relaxing. You will be part owner of Lawlins Pond. This home is truly a must-see. It has low taxes & a 4-bedroom septic system.

Amenities

Life Style :

Close/School, Close/Shopg, Close/Trans, Close/Wrshp

This listing is a courtesy of RE/MAX SELECT - Fort Lee
201-886-8888 office, listing agent Linda Trapp

MADISON ADAMSTM

office: 201-760-1100
84 E Ridgewood Ave, Suite 201
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)

Contact Info

FOR APPOINTMENTS CONTACT


Managing Partner
Broker Associate
646-279-8233 (cell)

Madisom Adams Broker Associate Helena Lobo-Zagorski


About Franklin Lakes, NJ Real Estate Market

A large borough spread over 9.88 square miles, Franklin Lakes is one of the most well-to-do boroughs in Bergen County in New Jersey. Franklin Lakes shares its borders with multiple boroughs from different counties, such as Oakland, Mahwah and Wyckoff from Bergen County and Wayne and North Haledon from the Passaic County.

The borough of Franklin Lakes was founded in 1922 from the portions of Franklin Township under the act of the New Jersey Legislature. The town is named after Benjamin Franklin’s son, William Franklin, who was the last colonial governor of New Jersey.

Currently home to around 10,500 people, Franklin Lakes is one of the highest-income communities from Bergen County. The residents of the borough have a median household income of $160,000. Franklin Lakes is home to Becton Dickinson, one of the Fortune 500 companies in the world. It also has the headquarters of Medco Health Solutions. Several reality TV shows, such as The Real Housewives of New Jersey, My Super Sweet 16 and My Big Fat Fabulous Wedding, were shot in Franklin Lakes.

The borough of Franklin Lakes has many water bodies and places, which make the place look beautiful, such as Blauvelt Lakes, Bakers Pond, Ferdinands Mills, Campgaw, Crystal Lakes, Hopper Lake, Shadow Lake and Pulis Mills. You can contact New Jersey real estate agents for finding homes at a close proximity to these lakes.
Population:  10,590
Total Housing Units:  3,692
Single Family Homes:  3,452
General Tax Rate (2023):  1.729%
Effective Tax Rate (2023):  1.416%
Compare To Other Towns

Franklin Lakes Market Indicators

PRICE INDEX

Average Price* (12mo):  $1,390,809
Homes Sold* (12mo):  81
PRICE INDEX
SINGLE FAMILY HOME SALES

Franklin Lakes, NJ
12 Month Moving Average


1 YR 2 YR 3 YR 5 YR 7 YR MAX
 

Download Full Home Sales Report

REAL ESTATE TAXES

General Tax Rate (2023):  1.729%
Effective Tax Rate (2023):  1.416%
GENRAL TAX RATE - Franklin Lakes, NJ



The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Madison Adams are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.
NJMLS is the owner of the copyrights of the listing content displayed for IDX. The NJMLS Internet Data Exchange Logo is a service mark owned by the NJMLS, Inc. All information deemed reliable but not guaranteed. Last date updated: 04/20/2025 00:05 AM Source: New Jersey Multiple Listing Service, Inc. “©2025 New Jersey Multiple Listing Service, Inc. All rights reserved.”


General Tax Rate is used to determine the amount of real estate tax levied upon a particular property. This rate is used to compute the tax bill.

Effective Tax Rate is used to compare of one district to another district based on the assumption that all districts are at 100% valuation. This rate has been computed by the State of New Jersey Department of the Treasury using County Equalization Average Ratios. This rate is NOT to be used to compute the tax bill.

Data Source: US Census 2010, NJ MLS, State of New Jersey Department of the Treasury

(A) Start Address :
(B) End Address : Get Directions

Need More Info

First Name:
Last Name:
E-mail:
Tel:--
Message: