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Somerset 08873
22 Abbott Road
$406,000
● House - Off Market

22 Abbott Road

Franklin, NJ 08873
bedrooms
3 Beds
bathrooms
2 Baths
$405,952
RealtyHop Estimate
1.74%
Since May 1, 2023
National-US
Primary Model

About This Property

Located in a beautiful and quiet neighborhood, this 1 level (no basement) ranch that could use some updating but in a renovate as you go condition. Large open floor plan with wood burning fireplace, updated central air, water heater and painted exterior. Large owner's bedroom with bathroom, 2 car garage, and large backyard. Home presents tremendous potential and opportunities. Chimney in as-is condition. Home Warranty INCLUDED!! LOW TAXES!!
Unit Size
-
Days on Market
-
Land Size
0.26 acres
Price per sqft
-
Property Type
House
Property Taxes
$575
HOA Dues
-
Year Built
1965

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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: 4 years ago (CJMLS #2301551R)

Price History

Date / Event Date Event Price
Apr 28, 2023 Sold
Premium
Sold
Jul 30, 2022 Listed by EXIT PLATINUM REALTY $399,000
Listed by EXIT PLATINUM REALTY

Property Highlights

Air Conditioning
Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1965
  • Effective Year Built: 1965
  • 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: 11,360
  • Lot Size Depth Feet: 800
  • Lot Size Frontage Feet: 1,420
  • Total Building Area: 1,676
  • Building Area: 1,676
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,676
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000261
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Franklin Township School District
  • Census Tract: 053103

Zoning

  • Zoning: R10

Geography

  • Assessors Map Reference: TAX MAP 6004
  • District: 08
  • Parcel: 08 00339-0000-00031
  • Block: 339
  • Lot: 31
  • Municipality: FRANKLIN TWP
  • Latitude: 40.4988
  • Longitude: -74.4875

    Address

  • Full Address: 22 Abbott Rd
  • Address - House Number: 22
  • Address - Street Name: Abbott
  • Address - Suffix Type: Rd
  • State: NJ
  • City Name: Somerset
  • Carrier Code: C010
  • 4-Digit Zip Code: 2340
  • Zip Code: 08873

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $823,918

    Appraisal Valuation

  • Standard Deviation: 0.0722
  • Valuation Date: Feb 14, 2024
  • Confidence Score: 95
  • Final Value: 375,685
  • High Value: 402,847
  • Low Value: 348,524

    Market Valuation

  • Market Total Value: $420,038
  • Market Land Value: $288,102
  • Market Improvement Value: $131,936

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $424,700
  • Assessed Land Value: $291,300
  • Assessed Improvements Value: $133,400

    Sales

  • Current Sale Contract Date: May 15, 2023
  • Current Sale Recording Date: May 15, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 11975
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

$329

Below Asking

0.01%

Average Days on Market

61

Average Home Size

796 ft²

Average Home Age

49.4 years

Currently For Sale

58 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 8 Alfred Avenue, Franklin Twsp, NJ, 08873

$3,150 /mo

  • 3 Beds
  • 2 Baths
  • 1,537 ft²
8 Alfred Avenue, Franklin Twsp, NJ, 08873 Listing by PETER BOUTROS
Unit for rent at 34 Almond Drive, Somerset County, NJ, 08873

$2,950 /mo

  • 2 Beds
  • 1 Bath
  • 1,104 ft²
34 Almond Drive, Somerset County, NJ, 08873 Listing by RAJEEV KUMAR

Rentals Near You

Click here to view more rentals in the neighborhood.
CJMLS

Listed by: JOHN JOHNSON
EXIT PLATINUM REALTY
Last Updated: 4 years ago
Data Source: CJMLS , MLS# 2301551R

Frequently Asked Questions

When was property at 22 Abbott Road built and last sold?
The property at 22 Abbott Road was built in 1965 and last sold on May 15, 2023 for $406,000.
How much is this home worth?
The estimated value of the home located at 22 Abbott Road is $402,990.
What are some comparable homes to 22 Abbott Road?
There are currently no comparable homes to 22 Abbott Road.
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