The good news is that the area doesn't flood (or at least very little), and the price of the property often reflects a discount over non flood zone properties.
My office is local to Lake Hiawatha and we deal with this all the time.
Give me a call if you'd like to come in ad go over the listings in the area.
RE/MAX First Choice
973 335 4600
Yes, that property is in an A6 flood zone, so you will need flood insurance if you decide to move there. I looked at the flood map, and all of Rockaway Blvd is squarely in the flood zone. If you want a copy of the flood map, e-mail me via my profile.
Member, Worldwide ERC
Licensed Realtor NJ
Licensed Appraiser NJ & NY
Century 21 Joe Tekula Realtors
Agent of the Year 2008
Owner: Sands Appraisal Service, Inc.
Phone (direct): (973) 584-4235