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Ocean 08724
16 N Cherokee Lane
$328,000
● House - Off Market

16 N Cherokee Lane

Brick, NJ 08724
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,750 Ft²
$331,687
RealtyHop Estimate
5.30%
Since Mar 1, 2022
National-US
Primary Model

About This Property

Welcome to the best kept secret in Brick, Cedarcroft, ''Where the Forest meets the Shore''!  Come fall in love with this diamond in the rough.  Spacious 4 bed, 2 bath ranch in desirable north Brick off Princeton Ave.  This home features a Living room Dining Room, large Kitchen and a bonus Family room with vaulted ceiling and fireplace.  The potential of this home is awesome!  This a bank owned property and is being sold as is.  If you are looking to make a house your own, at a reasonable price, this might be the home for you. Call your realtor today for a private showing.  As per this bank's guidelines all offers will be considered after ten (10) days on the MLS.
Unit Size
1,750 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$180
Property Type
House
Property Taxes
$503
HOA Dues
$13
Year Built
1961

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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 #22130761)

Price History

Date / Event Date Event Price
Feb 17, 2022 Sold
Premium
Sold
Sep 15, 2021 Listed by Veltri & Associates, Realtors $315,000
Listed by Veltri & Associates, Realtors

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1961
  • Effective Year Built: 1961
  • 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: 6,300
  • Lot Size Depth Feet: 840
  • Lot Size Frontage Feet: 750
  • Total Building Area: 1,706
  • Building Area: 1,706
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,706
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000145
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Brick Township School District
  • Census Tract: 713500

Zoning

  • Zoning: R75

Geography

  • Assessors Map Reference: TAX MAP 49.2
  • Account Number: 00416109
  • District: 07
  • Parcel: 07 00901- 20-00008
  • Block: 901.20
  • Lot: 8
  • Municipality: BRICK TWP
  • Latitude: 40.0599
  • Longitude: -74.1058

    Address

  • Full Address: 16 N Cherokee Ln
  • Address - House Number: 16
  • Street Direction: N
  • Address - Street Name: Cherokee
  • Address - Suffix Type: Ln
  • State: NJ
  • City Name: Brick
  • Carrier Code: C071
  • 4-Digit Zip Code: 4405
  • Zip Code: 08724

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $625,141

    Appraisal Valuation

  • Standard Deviation: 0.2135
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 70
  • Final Value: 485,725
  • High Value: 589,470
  • Low Value: 381,981

    Market Valuation

  • Market Total Value: $256,100
  • Market Land Value: $118,800
  • Market Improvement Value: $137,300

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $256,100
  • Assessed Land Value: $118,800
  • Assessed Improvements Value: $137,300

    Sales

  • Current Sale Contract Date: Dec 16, 2021
  • Current Sale Recording Date: Apr 27, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 12
  • Current Sale Input Document Number: 50325
  • Previous Sale Recording Date: Nov 13, 2002
  • Previous Sale Contract Date: Oct 04, 2002
  • Previous Sale Amount: $228,000
  • 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

$305

Above Asking

0.16%

Average Days on Market

73

Average Home Size

1585 ft²

Average Home Age

32.3 years

Currently For Sale

3042 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

Rentals Near You

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MOMMLS

Listed by: Donald J McKeon Jr., Veltri & Associates, Realtors
Last Updated: 2 years ago
Data Source: MOMMLS, MLS# 22130761
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 North Cherokee Lane built and last sold?
The property at 16 North Cherokee Lane was built in 1961 and last sold on Dec 16, 2021 for $328,000.
How much is this home worth?
The estimated value of the home located at 16 North Cherokee Lane is $0.
What are some comparable homes to 16 North Cherokee Lane?
There are currently no comparable homes to 16 North Cherokee Lane.
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