$100,000
●
House -
Off Market
2368 PENNINGTON RD
PENNINGTON, NJ 08534
2 Beds
1 Bath
1,096 Ft²
$160,222
RealtyHop Estimate
14.44%
Since Sep 1, 2021
National-US
Primary Model
About This Property
Great opportunity for any investor or cash buyer. The current home
on this property is not in living condition and is structurally
unsafe. The floors are collapsing, and this will most likely be a
tear down. When the property was functioning, it had well water, an
above ground oil tank, and a septic system. Foundation has a
basement area, and the home itself had 2 beds, 1 full bath, a
kitchen, dining room, and living room. There is also a detached 2
car garage, but this will most likely be a tear down as well.
The value is in the land and the location. No inside access
to the home is allowed, as it is not safe for anyone to go inside.
Some flooring has collapsed into the basement, and the other
floors in the home could possibly collapse. There are also
miscellaneous junk items around the grounds, so be very careful
when viewing this property. Being sold in strictly "as-is"
condition, purchaser assumes responsibility for all municipal
certifications.
Unit Size
1,096 Ft²
Days on Market
-
Land Size
0.91 acres
Price per sqft
$128
Property Type
House
Property Taxes
$528
HOA Dues
-
Year Built
1944
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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 (Bright MLS #NJME311984)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 17, 2021 | Sold | ||
| Sold | |||
| May 5, 2021 | Listed by Avallon Real Estate Group | $140,000 | |
| Listed by Avallon Real Estate Group | |||
Property Highlights
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Mercer
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Currently no similar homes aroundNearby Rentals
Listed by: Christopher Avallon
Avallon Real Estate Group
Last Updated: 4 hours ago
Data Source: Bright MLS , MLS# NJME311984
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2026 Bright MLS, Inc.
Avallon Real Estate Group
Last Updated: 4 hours ago
Data Source: Bright MLS , MLS# NJME311984
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017