NJ is notoriously known for high property taxes and high housing price.

Gotterdammerung: A Very Serious Legal Threat.It alleges that cooperation and compensation is an anti-trust violation that results in consumer harm, and seeks an injunction against forcing home sellers to pay the commissions of the buyer agent.https://notorious-rob.com/2019/03/gotterdammerung-a-very-serious-legal-threat/

Just read about this earlier this morning...The two leading plaintiff's law firms, Cohen Milstein Sellers & Toll and Hagens Berman Sobol & Shapiro, are no joke... they've been behind a number of complex class-action lawsuits against companies like Apple and Toyota.This article breaks it all down pretty well: https://notorious-rob.com/2019/03/gotterdammerung-...You can also look at the details of the suit right from the HBS&S website.It will be interesting to see how this all unfolds over time.

I know NJ is notorious for high taxes, but I am calculating $7500/year?

The data is more accurate by far since Zillow notoriously keeps things on there that aren’t on the market or sold years ago and their comparisons are often; apples to oranges.

@John Lee - Listing agents and sellers are notorious for minimizing expenses and inflating cap rates.

@Ana CoelloTax assessed value is meaningless for property evaluation, and the cites you mentioned, especially Zillow, are notorious for bad numbers.Tax assessed value is some semi-arbitrary number assigned to the house by local taxing authorities.

Also consider two things, California is notorious for being overpriced for housing, currently the state has low inventory and high demand so prices are going up and up.

Awesome job.Cast iron house traps are notorious for catching all sorts of stuff creating a dam which leads to a backup. that backup can make its way up the stack and out into liveable  areas.

California has notoriously expensive costs to build.