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Ocean 08724
229 Colonial Drive
$400,000
● House - Off Market

229 Colonial Drive

Brick, NJ 08724
bedrooms
3 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
1,813 Ft²
$418,538
RealtyHop Estimate
10.17%
Since Jan 1, 2022
National-US
Primary Model

About This Property

This spacious ranch with over 1,800 square feet of living space is located on a quiet corner lot in the Midstreams section of Brick. It features 3 bedrooms, 1 1/2 baths, a huge dining room, sunken living room, cozy family room with wood burning fireplace and an eat-in kitchen with large pantry, breakfast bar and dining area...the perfect home for a growing family! Bedrooms have hardwoods under carpet. Sliders lead out to a deck and fenced in yard with an above ground pool and basketball area. Double wide driveway and one car garage will fit all of your vehicles. Quick closing available! Come visit today!!
Unit Size
1,813 Ft²
Days on Market
-
Land Size
0.28 acres
Price per sqft
$210
Property Type
House
Property Taxes
$548
HOA Dues
-
Year Built
1978

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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 #22124550)

Price History

Date / Event Date Event Price
Dec 17, 2021 Sold
Premium
Sold
Jul 26, 2021 Listed by Coldwell Banker Realty $379,900
Listed by Coldwell Banker Realty

Property Highlights

Garage
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1978
  • Effective Year Built: 1978
  • 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: 7
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,000
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 1,200
  • Total Building Area: 1,813
  • Building Area: 1,813
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,813
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000275
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Brick Township School District
  • Census Tract: 713600

Zoning

  • Zoning: R10

Geography

  • Assessors Map Reference: TAX MAP 54.1
  • Account Number: 00517131
  • District: 07
  • Parcel: 07 00903- 24-00007
  • Block: 903.24
  • Lot: 7
  • Municipality: BRICK TWP
  • Latitude: 40.07
  • Longitude: -74.0942

    Address

  • Full Address: 229 Colonial Dr
  • Address - House Number: 229
  • Address - Street Name: Colonial
  • Address - Suffix Type: Dr
  • State: NJ
  • City Name: Brick
  • Carrier Code: C047
  • 4-Digit Zip Code: 3842
  • Zip Code: 08724

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $680,551

    Appraisal Valuation

  • Standard Deviation: 0.2135
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 70
  • Final Value: 550,664
  • High Value: 668,279
  • Low Value: 433,050

    Market Valuation

  • Market Total Value: $278,800
  • Market Land Value: $136,000
  • Market Improvement Value: $142,800

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $278,800
  • Assessed Land Value: $136,000
  • Assessed Improvements Value: $142,800

    Sales

  • Current Sale Contract Date: Dec 03, 2021
  • Current Sale Recording Date: Jan 06, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 12
  • Current Sale Input Document Number: 1767
  • Previous Sale Recording Date: Aug 06, 2008
  • Previous Sale Contract Date: Jul 18, 2008
  • Previous Sale Amount: $322,900
  • 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

0.16%

Average Days on Market

73

Average Home Size

1578 ft²

Average Home Age

32.5 years

Currently For Sale

3055 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 2305 Oak Tree Road, Point Pleasant, NJ, 08742

$3,400 /mo

  • 2 Beds
  • 1 Bath
2305 Oak Tree Road, Point Pleasant, NJ, 08742 Listing by Steven Houghtaling
Unit for rent at 501 Azalea Drive, Brick, NJ, 08724

$3,700 /mo

  • 4 Beds
  • 2 Baths
  • 1,133 ft²
501 Azalea Drive, Brick, NJ, 08724 Listing by Michael Imbriaco

Rentals Near You

Click here to view more rentals in the neighborhood.
MOMMLS

Listed by: Kathleen C Ryan, Coldwell Banker Realty
Last Updated: 2 years ago
Data Source: MOMMLS, MLS# 22124550
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 229 Colonial Drive built and last sold?
The property at 229 Colonial Drive was built in 1978 and last sold on Dec 3, 2021 for $400,000.
How much is this home worth?
The estimated value of the home located at 229 Colonial Drive is $394,161.
What are some comparable homes to 229 Colonial Drive?
There are currently no comparable homes to 229 Colonial Drive.
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