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Somerset 08873
2 Vince Road
$675,000
● House - Off Market

2 Vince Road

Franklin, NJ 08873
bedrooms
3 Beds
bathrooms
2 Baths
$3,748
Est. Monthly
4.83%
Cap Rate

About This Property

Meticulously maintained 3 bedroom ranch on a corner landscaped lot   The updated eat in kitchen offers granite tops, backsplash, all appliances and a breakfast bar. The family room is located off the kitchen and overlooks the landscaped property. The family room and dining room combination offer plenty of space for entertaining and the bedroom area is away from the main area of the home.  There is a laundry room and 2 car garage that completed the home. Easy access to Rutgers, 2 hospitals, schools, shopping, train, and major artiries like 287, 18, 1 and 27 make this an idea place to call home.
Unit Size
-
Days on Market
97 days
Land Size
0.43 acres
Price per sqft
-
Property Type
House
Property Taxes
$807
HOA Dues
-
Year Built
1964

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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: 3 years ago (CJMLS #2410896R)

Price History

Date / Event Date Event Price
Jul 26, 2024 Sold
Premium
Sold
Jun 26, 2024 In contract -
In contract
Apr 20, 2024 Listed by BHHS FOX & ROACH REALTORS $599,000
Listed by BHHS FOX & ROACH REALTORS

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1964
  • Effective Year Built: 1964
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 18,875
  • Lot Size Depth Feet: 1,510
  • Lot Size Frontage Feet: 1,250
  • Total Building Area: 1,900
  • Building Area: 1,900
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,900
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000433
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Franklin Township School District
  • Census Tract: 053105

Zoning

  • Zoning: R20

Geography

  • Assessors Map Reference: TAX MAP 7802
  • District: 08
  • Parcel: 08 00393-0000-00006
  • Block: 393
  • Lot: 6
  • Municipality: FRANKLIN TWP
  • Latitude: 40.5091
  • Longitude: -74.4962

    Address

  • Full Address: 2 Vince Rd
  • Address - House Number: 2
  • Address - Street Name: Vince
  • Address - Suffix Type: Rd
  • State: NJ
  • City Name: Somerset
  • Carrier Code: C042
  • 4-Digit Zip Code: 2213
  • Zip Code: 08873

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $968,010

    Appraisal Valuation

  • Standard Deviation: 0.1566
  • Valuation Date: Feb 14, 2024
  • Confidence Score: 80
  • Final Value: 547,719
  • High Value: 633,531
  • Low Value: 461,906

    Market Valuation

  • Market Total Value: $495,796
  • Market Land Value: $315,201
  • Market Improvement Value: $180,595

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $501,300
  • Assessed Land Value: $318,700
  • Assessed Improvements Value: $182,600

    Sales

  • Current Sale Contract Date: Jan 28, 1998
  • Current Sale Recording Date: Feb 05, 1998
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Previous Sale Recording Date: Mar 11, 1994
  • Previous Sale Contract Date: Mar 03, 1994
  • Previous Sale Amount: $160,000
  • 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 Somerset

Stats & Trends

Median Asking:

$579,000

Sale Price/ft²

$331

Below Asking

0.01%

Average Days on Market

61

Average Home Size

800 ft²

Average Home Age

49.3 years

Currently For Sale

56 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 18 Millstone Road, Franklin, NJ, 08873

$3,500 /mo

  • 3 Beds
  • 1 Bath
  • 1,952 ft²
18 Millstone Road, Franklin, NJ, 08873 Listing by SEAN WRIGHT
Unit for rent at 16 Millstone Road, Franklin, NJ, 08873

$3,500 /mo

  • 3 Beds
  • 1 Bath
  • 1,952 ft²
16 Millstone Road, Franklin, NJ, 08873 Listing by SEAN WRIGHT

Rentals Near You

Click here to view more rentals in the neighborhood.
CJMLS

Listed by: NICOLAS DIMEGLIO
BHHS FOX & ROACH REALTORS
Last Updated: 3 years ago
Data Source: CJMLS , MLS# 2410896R

Frequently Asked Questions

When was property at 2 Vince Road built and last sold?
The property at 2 Vince Road was built in 1964 and last sold on Jan 28, 1998 for $182,000.
How much is this home worth?
The estimated value of the home located at 2 Vince Road is $604,990.
What are some comparable homes to 2 Vince Road?
There are currently no comparable homes to 2 Vince Road.
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