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Cape May 08204
3 Heron Way
$340,000
● Land - Off Market

3 Heron Way

Cape May, NJ 08204
bedrooms
Studio
bathrooms
0 Bath
$951,465
RealtyHop Estimate
123.87%
Since Nov 1, 2003
National-US
Primary Model

About This Property

WODERFUL PRIVAT NEIGHBORHOOD SURROUNDED BY CONSERVATION LAND. NEIGHBORHOOD COVENANTS MIN 3200 FT HOME. CALL AGENT
Unit Size
-
Days on Market
-
Land Size
1.36 acres
Price per sqft
-
Property Type
Land
Property Taxes
-
HOA Dues
-
Year Built
1991

Payment Calculator

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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 (MLSPIN #30635349)

Price History

Date / Event Date Event Price
Oct 31, 2003 Sold
Premium
Sold
Aug 13, 2002 Listed by Keller Williams Realty Evolution $425,000
Listed by Keller Williams Realty Evolution

Property Highlights

Building Info

Overview

    General

  • Year Built: 1991
  • Effective Year Built: 1991
  • 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
  • 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: 7,000
  • Lot Size Depth Feet: 1,400
  • Lot Size Frontage Feet: 500
  • Total Building Area: 1,204
  • Building Area: 1,204
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,204
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: BAY GARDENS II
  • Land Acres: 0000000161
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Lower Township School District
  • Census Tract: 021805

Geography

  • Assessors Map Reference: TAX MAP 6.16
  • District: 05
  • Parcel: 05 00496- 14-00025
  • Block: 496.14
  • Lot: 25
  • Municipality: LOWER TWP
  • Latitude: 38.9857
  • Longitude: -74.9319

    Address

  • Full Address: 3 Heron Way
  • Address - House Number: 3
  • Address - Street Name: Heron
  • Address - Suffix Type: Way
  • State: NJ
  • City Name: Cape May
  • Carrier Code: C009
  • 4-Digit Zip Code: 4450
  • Zip Code: 08204

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $349,025
  • Initial Tax Delinquent Year: 2017

    Appraisal Valuation

  • Standard Deviation: 0.2564
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 63
  • Final Value: 394,444
  • High Value: 495,594
  • Low Value: 293,295

    Market Valuation

  • Market Total Value: $267,997
  • Market Land Value: $118,649
  • Market Improvement Value: $149,348

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $174,600
  • Assessed Land Value: $77,300
  • Assessed Improvements Value: $97,300

    Sales

  • Current Sale Contract Date: Nov 29, 2017
  • Current Sale Recording Date: Dec 04, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 37426
  • Previous Sale Recording Date: Dec 23, 2008
  • Previous Sale Contract Date: Dec 13, 2008
  • Previous Sale Amount: $212,000
  • Previous Sale Document Type: 12
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 Cape May

Stats & Trends

Median Asking:

$600,000

Sale Price/ft²

$485

Below Asking

0.02%

Average Days on Market

65

Average Home Size

1710 ft²

Average Home Age

40.5 years

Currently For Sale

251 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 39 Birch Road, VILLAS, NJ, 08251

$2,000 /mo

  • 2 Beds
  • 1 Bath
  • 950 ft²
39 Birch Road, VILLAS, NJ, 08251 Listing by Ryan Straub

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 years ago
Data Source: MLS PIN, MLS# 30635349

Frequently Asked Questions

When was property at 3 Heron Way built and last sold?
The property at 3 Heron Way was built in 1991 and last sold on Nov 29, 2017 for $135,000.
How much is this home worth?
The estimated value of the home located at 3 Heron Way is $429,250.
What are some comparable homes to 3 Heron Way?
There are currently no comparable homes to 3 Heron Way.
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