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Somerset 07931
265 Mount Prospect Rd
$1,495,000
● House - Off Market

265 Mount Prospect Rd

Bernards Twp., NJ 07931
bedrooms
5 Beds
bathrooms
3.1 Baths
$1,512,330
RealtyHop Estimate
1.16%
Since Jul 1, 2022
National-US
Primary Model
Unit Size
-
Days on Market
-
Land Size
2.30 acres
Price per sqft
-
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1997

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Last updated: 2 years ago (GSMLS #3768094)

Property Highlights

Building Info

Overview

    General

  • Year Built: 1997
  • Effective Year Built: 1997
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 100,188
  • Total Building Area: 3,996
  • Building Area: 3,996
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 3,996
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: THE HILLS
  • Land Acres: 0000002300
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Bernards Township School District
  • Census Tract: 052605

Zoning

  • Zoning: PRD5

Geography

  • Assessors Map Reference: TAX MAP 47
  • District: 02
  • Parcel: 02 10101-0000-00004
  • Block: 10101
  • Lot: 4
  • Municipality: BERNARDS TWP
  • Latitude: 40.6611
  • Longitude: -74.6114

    Address

  • Full Address: 265 Mount Prospect Rd
  • Address - House Number: 265
  • Address - Street Name: Mount Prospect
  • Address - Suffix Type: Rd
  • State: NJ
  • City Name: Far Hills
  • Carrier Code: R013
  • 4-Digit Zip Code: 2562
  • Zip Code: 07931

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $2,539,310

    Appraisal Valuation

  • Standard Deviation: 0.1543
  • Valuation Date: Feb 14, 2024
  • Confidence Score: 81
  • Final Value: 1,492,221
  • High Value: 1,722,602
  • Low Value: 1,261,839

    Market Valuation

  • Market Total Value: $1,344,652
  • Market Land Value: $432,638
  • Market Improvement Value: $912,014

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $1,346,400
  • Assessed Land Value: $433,200
  • Assessed Improvements Value: $913,200

    Sales

  • Current Sale Contract Date: Jun 01, 2022
  • Current Sale Recording Date: Jun 14, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 26747
  • Previous Sale Recording Date: Jan 23, 2003
  • Previous Sale Contract Date: Jan 06, 2003
  • Previous Sale Amount: $1,365,000
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

About Somerset

Stats & Trends

Median Asking:

$629,000

Sale Price/ft²

$340

Below Asking

0.01%

Average Days on Market

68

Average Home Size

1070 ft²

Average Home Age

38.4 years

Currently For Sale

715 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 13 Eton Ct, Bedminster Twp., 07921-1602

$3,850 /mo

  • 3 Beds
  • 3 Baths
13 Eton Ct, Bedminster Twp., 07921-1602 Listing by CATHERINE BOE RACIOPPI
Unit for rent at 268 Victoria Drive, Bridgewater Twp., 08807-1287

$3,500 /mo

  • 2 Beds
  • 2 Baths
  • 1,101 ft²
268 Victoria Drive, Bridgewater Twp., 08807-1287 Listing by NICHOLAS A. GALIETTA

Rentals Near You

Click here to view more rentals in the neighborhood.
GSMLS

Last Updated: 2 years ago
Data Source: GSMLS, MLS#
The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. Copyright © 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. 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 265 Mt Prospect Road built and last sold?
The property at 265 Mt Prospect Road was built in 1997 and last sold on Jun 1, 2022 for $1,510,000.
How much is this home worth?
The estimated value of the home located at 265 Mt Prospect Road is $0.
What are some comparable homes to 265 Mt Prospect Road?
There are currently no comparable homes to 265 Mt Prospect Road.
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