$725,000
●
Condo -
Off Market
116 Walnut Drive
Spring Lake Heights, NJ 07762
2 Beds
2 Baths,
1
Half Bath
1,547 Ft²
$4,195
Est. Monthly
$480
HOA / Fees
3.32%
Cap Rate
About This Property
Welcome to your dream home in the sought-after Fairway Mews
community! This beautifully renovated two-bedroom boasts new
hardwood flooring that stretches elegantly throughout. The kitchen
is a chef's delight, featuring stainless steel appliances, quartz
countertops, and stunning shaker cabinetry, seamlessly flowing into
the dining area and spacious living room, complete with sliders
that lead to your own private patio.Indulge in luxury with all-new
bathrooms showcasing designer vanities and custom tile work, each
bedroom offering its own private oasis. Storage is never an issue
with ample space throughout the home and a convenient detached
garage. Fairway Mews isn't just a place to live; it's a lifestyle.
Enjoy a plethora of amenities including a community pool,
clubhouse, and access to golfing opportunities. Plus, revel in the
proximity to the pristine Spring Lake beaches just a short distance
away. Don't miss the chance to call this gem yours!
Unit Size
1,547 Ft²
Days on Market
36 days
Land Size
0.03 acres
Price per sqft
$420
Property Type
Condo
Property Taxes
$523
HOA Dues
$480
Year Built
1978
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Cap Rate Calculator
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 12 months ago (MOMLS #22412132)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 7, 2024 | Sold | ||
| Sold | |||
| May 20, 2024 | In contract | - | |
| In contract | |||
| May 20, 2024 | Relisted | $650,000 | |
| Relisted | |||
| May 14, 2024 | In contract | - | |
| In contract | |||
| May 2, 2024 | Listed by Keller Williams Realty West Monmouth | $650,000 | |
| Listed by Keller Williams Realty West Monmouth | |||
Property Highlights
Parking Available
Air Conditioning
Parking Details
Has Garage
Garage Spaces: 1
Interior Details
Half Bathrooms: 1
Full Bathrooms: 2
Interior Features: Recessed Lighting, Balcony, Dec Molding
Flooring Type: Tile, Wood
Exterior Details
Has Property Attached
Square Footage: 1547
Security Features: Security Guard
Architectural Style: Detached
Year Built: 1978
Building Area Total: 1547
Patio and Porch Features: Patio
Pool is Private
Lot Size Area: 1306.8
Lot Size Units: Square Feet
Lot Size Acres: 0.03
Lot Size Square Feet: 1306.8
Water Source: Public
Financial Details
Tax Assessed Value: $560,400
Tax Annual Amount: $6,276
Utilities Details
Cooling Type: Central Air
Heating Type: Natural Gas, Forced Air
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Snow Removal, Common Area, Lawn Maintenance, Pool
HOA/Condo/Coop Amenities: Tennis Court(s), Management, Pool, Golf Course, Clubhouse, Landscaping, Association, Common Area, Bocci
HOA Fee: $480
HOA Fee Frequency: Monthly
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
05/02/2024
| |
2 Bed
|
2 Bath
|
1547 ft²
|
$650,000
2 Bed
2 Bath
1547 ft²
|
$725,000
+11.54%
06/07/2024
|
Valerie Vargas
Keller Williams Realty West Monmouth
|
|
08/19/2023
| |
2 Bed
|
3 Bath
|
1458 ft²
|
$549,700
2 Bed
3 Bath
1458 ft²
|
$485,000
-11.77%
01/16/2024
|
Matthew Conde
C21/ Action Plus Realty
|
Building Info
About Spring Lake Heights
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Listed by: Valerie Vargas, Keller Williams Realty West Monmouth
Last Updated: 12 months ago
Data Source: MOMMLS, MLS# 22412132
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Last Updated: 12 months ago
Data Source: MOMMLS, MLS# 22412132
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