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231 PEPPERMILL ROAD
About This Property
Nestled in the desirable community of West Berlin, New Jersey, this well-maintained home offers comfort, flexibility, and great space for everyday living and entertaining. Step inside to find durable laminate flooring throughout much of the home, with tile flooring in the foyer and kitchen for both style and practicality.
The kitchen features stainless steel appliances, a convenient mobile island for added prep space, and easy flow into the main living areas. Just off the kitchen, the cozy family room is centered around a gas fireplace-perfect for relaxing evenings at home. The main level also includes a mudroom with a half bath, ideal for keeping things organized as you come and go. A versatile additional room on the first floor can easily serve as a formal dining room, home office, or flex space to suit your needs.
Downstairs, the finished basement is designed for entertaining, complete with a built-in bar and plenty of space for gatherings, game nights, or watching the big game.
Upstairs, the second floor continues the laminate flooring- cohesive and low-maintenance. The full bathroom was tastefully updated approximately four years ago, adding modern comfort to the home.
Major systems have been recently improved, including the water heater which is approximately two years old, and new roof installed May 2026- providing added peace of mind for the next owner.
Located close to major roadways, shopping, dining, and everyday conveniences, this home combines suburban comfort with accessibility-making it a fantastic opportunity in West Berlin.
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 22, 2026 | Sold | ||
| Sold | |||
| Sep 26, 2026 | In contract | - | |
| In contract | |||
| Sep 15, 2026 | Price Decreased |
$360,000
↓ $10K
(2.7%) | |
| Price Decreased | |||
| Aug 17, 2026 | Price Decreased |
$370,000
↓ $5K
(1.3%) | |
| Price Decreased | |||
| Jul 24, 2026 | Relisted | $375,000 | |
| Relisted | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017