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Ocean
124 Monterey Drive
$551,000
● House - Off Market

124 Monterey Drive

Brick, NJ 08723
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,506 Ft²
$495,887
RealtyHop Estimate
-0.62%
Since Oct 1, 2023
National-US
Primary Model

About This Property

50 x 100 Waterfront Property at the Jersey Shore! Ideally located on a wide lagoon with direct/quick access to the Barnegat Bay, this property also has a newer vinyl bulkhead.  As per Brick Township, this 1,500+ sq. ft. home is required to be elevated to be FEMA compliant. Bring your architect!  3 Bedrooms, 2 full baths, oversized Living & Dining Rooms, hardwood floors throughout & great water views!  Sunsets are waiting to be enjoyed from the 30 x 10 composite deck!  Such incredible potential with this waterfront property.  Once this home is raised...it could be your waterfront dream home!  Mechanicals are all less than 10 years old.
Unit Size
1,506 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$331
Property Type
House
Property Taxes
$793
HOA Dues
-
Year Built
1972

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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: 2 years ago (MOMLS #22315067)

Price History

Date / Event Date Event Price
Sep 6, 2023 Sold
Premium
Sold
Jun 3, 2023 Listed by Childers Sotheby's Intl Realty $499,000
Listed by Childers Sotheby's Intl Realty

Property Highlights

Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1972
  • Effective Year Built: 1972
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 5,000
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 500
  • Total Building Area: 1,506
  • Building Area: 1,506
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,506
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000115
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Brick Township School District
  • Census Tract: 714300

Zoning

  • Zoning: R5

Geography

  • Assessors Map Reference: TAX MAP 22.2
  • Account Number: 00204269
  • District: 07
  • Parcel: 07 00211- 26-00014
  • Block: 211.26
  • Lot: 14
  • Municipality: BRICK TWP
  • Latitude: 40.0196
  • Longitude: -74.0836

    Address

  • Full Address: 124 Monterey Dr
  • Address - House Number: 124
  • Address - Street Name: Monterey
  • Address - Suffix Type: Dr
  • State: NJ
  • City Name: Brick
  • Carrier Code: C006
  • 4-Digit Zip Code: 7009
  • Zip Code: 08723

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $951,755

    Appraisal Valuation

  • Standard Deviation: 0.2629
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 62
  • Final Value: 557,073
  • High Value: 703,579
  • Low Value: 410,568

    Market Valuation

  • Market Total Value: $392,800
  • Market Land Value: $277,500
  • Market Improvement Value: $115,300

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $392,800
  • Assessed Land Value: $277,500
  • Assessed Improvements Value: $115,300

    Sales

  • Current Sale Contract Date: Aug 23, 2023
  • Current Sale Recording Date: Sep 08, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 67761
  • Previous Sale Recording Date: Jan 31, 1997
  • Previous Sale Contract Date: Jan 08, 1997
  • Previous Sale Amount: $150,000
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Ocean

Stats & Trends

Median Asking:

$499,900

Sale Price/ft²

$306

Above Asking

0.23%

Average Days on Market

74

Average Home Size

1595 ft²

Average Home Age

35.1 years

Currently For Sale

2999 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 326 Cutter Lane, Mantoloking, NJ, 08738

$3,500 /mo

  • 3 Beds
  • 3 Baths
326 Cutter Lane, Mantoloking, NJ, 08738 Listing by Michael J Mulroy
Unit for rent at 102 W Colony Road, Lavallette, NJ, 08735

$3,500 /mo

  • 3 Beds
  • 2 Baths
102 W Colony Road, Lavallette, NJ, 08735 Listing by Michael Gruosso

Rentals Near You

Click here to view more rentals in the neighborhood.
MOMMLS

Listed by: Aileen Starkey-Casalino, Childers Sotheby's Intl Realty
Last Updated: 2 years ago
Data Source: MOMMLS, MLS# 22315067
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 124 Monterey Drive built and last sold?
The property at 124 Monterey Drive was built in 1972 and last sold on Aug 23, 2023 for $551,000.
How much is this home worth?
The estimated value of the home located at 124 Monterey Drive is $507,511.
What are some comparable homes to 124 Monterey Drive?
There are currently no comparable homes to 124 Monterey Drive.
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