12 Oak Terrace
About This Property
There are so many things we love about this house. We can walk a block to the Inlet for evening sunsets or a stroll along the water, or launch a kayak/paddle board at nearby Memorial park. The front porch is pleasant any time of day! The variety of rooms are generously sized, with bedrooms on both the 1st and 2nd floors. Every day, we drive five minutes (less than a mile) to the beach over the Avon bridge. This neighborhood is a well-kept secret, secluded from busier town traffic. Beaches and towns at Asbury Park, Belmar, Avon, and Bradley are short bike rides away. Exit the neighborhood in any direction for quick access to year-round activities and work commutes. Recent updates include a newer roof, all new windows, updated lighting and ceiling fans. The house boasts high ceilings throughout with refinished walls, a newly fenced backyard with landscaping, and updated garage doors coming soon. Additionally, the house has room for expansion from a 3-bedroom, 1-bath to a 4-bedroom, 2-bath. Or open up the kitchen with a large island to the dining room. It is fully livable as is or can grow to your own liking, if desired.
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Cap Rate Calculator
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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 29, 2024 | Sold | ||
| Sold | |||
| Jul 15, 2024 | In contract | - | |
| In contract | |||
| Jun 19, 2024 | Price Decreased |
$575,000
↓ $13K
(2.2%) | |
| Price Decreased | |||
| May 30, 2024 | Listed by Keller Williams Realty West Monmouth | $588,000 | |
| Listed by Keller Williams Realty West Monmouth | |||
| Feb 2, 2022 | Sold | ||
| Sold | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017