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Ocean 08527
16 Melissa Lee Drive
$477,000
● House - Off Market

16 Melissa Lee Drive

Jackson, NJ 08527
bedrooms
4 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
2,200 Ft²
$803,463
RealtyHop Estimate
68.48%
Since Dec 1, 2016
National-US
Primary Model

About This Property

Pride of ownership is evident the moment you enter this 2-story Center Hall Colonial. Hardwood Floors and Ceramic Tile throughout the first floor. Plenty of natural light accompanied by recessed lighting and ceiling fans. Updated eat-in kitchen with Corian Countertops and stainless steel appliance package. Wood Staircase and railing leads you to the second floor with an open foyer with wood flooring overlooking the entrance foyer.  Spacious Master bedroom with wood flooring boasts a large walk in closet and a master bath with a jetted soaking tub and a separate shower. Newer Hot Water Heater, Furnace, A/C. Generator outlet installed to run Furnace and sump pump (2000 watt generator min not included). Enjoy entertaining in your private fenced in backyard professionally landscaped.
Unit Size
2,200 Ft²
Days on Market
-
Land Size
0.92 acres
Price per sqft
$217
Property Type
House
Property Taxes
$676
HOA Dues
-
Year Built
1998

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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 #21629169)

Price History

Date / Event Date Event Price
Nov 14, 2016 Sold
Premium
Sold
Jul 23, 2016 Listed by Weichert Realtors-Manalapan $476,900
Listed by Weichert Realtors-Manalapan

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1998
  • Effective Year Built: 1998
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 1,183
  • Garage Type: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 40,075
  • Total Building Area: 2,236
  • Building Area: 2,236
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 2,236
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000920
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Jackson Township School District
  • Census Tract: 717502

Zoning

  • Zoning: R1

Geography

  • Assessors Map Reference: TAX MAP 204
  • District: 12
  • Parcel: 12 20401-0000-00008
  • Block: 20401
  • Lot: 8
  • Municipality: JACKSON TWP
  • Latitude: 40.0862
  • Longitude: -74.2854

    Address

  • Full Address: 16 Melissa Lee Dr
  • Address - House Number: 16
  • Address - Street Name: Melissa Lee
  • Address - Suffix Type: Dr
  • State: NJ
  • City Name: Jackson
  • Carrier Code: R002
  • 4-Digit Zip Code: 5151
  • Zip Code: 08527

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $932,211

    Appraisal Valuation

  • Standard Deviation: 0.1934
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 74
  • Final Value: 688,160
  • High Value: 821,316
  • Low Value: 555,004

    Market Valuation

  • Market Total Value: $368,900
  • Market Land Value: $101,800
  • Market Improvement Value: $267,100

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $368,900
  • Assessed Land Value: $101,800
  • Assessed Improvements Value: $267,100

    Sales

  • Current Sale Contract Date: Nov 02, 2016
  • Current Sale Recording Date: Nov 09, 2016
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 2016115749
  • Previous Sale Recording Date: Dec 30, 1998
  • Previous Sale Contract Date: Dec 22, 1998
  • Previous Sale Amount: $179,900
  • Previous Sale Document Type: 27

    Financing

  • First Mortgage Financing Type: FIX
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:

$499,000

Sale Price/ft²

$303

Above Asking

0.00%

Average Days on Market

65

Average Home Size

1598 ft²

Average Home Age

29.1 years

Currently For Sale

4374 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

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MOMMLS

Listed by: Mary Nuziale, Weichert Realtors-Manalapan
Last Updated: 2 years ago
Data Source: MOMMLS, MLS# 21629169
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 16 Melissa Lee Drive built and last sold?
The property at 16 Melissa Lee Drive was built in 1998 and last sold on Nov 2, 2016 for $477,000.
How much is this home worth?
The estimated value of the home located at 16 Melissa Lee Drive is $0.
What are some comparable homes to 16 Melissa Lee Drive?
There are currently no comparable homes to 16 Melissa Lee Drive.
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