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Somerset 08873
32 Cedar Grove
$602,000
● House - Off Market

32 Cedar Grove

Franklin, NJ 08873
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
$3,303
Est. Monthly
5.66%
Cap Rate

About This Property

Welcome to this charming 3-bedroom, 1.5-bath ranch, nestled against a serene private wooded backdrop. Designed for comfortable one-level living, this home features a functional layout ideal for both relaxation and entertaining.    A full unfinished basement offers endless possibilities for customization and expansion, while the spacious 2-car garage adds convenience. Peaceful and private, this home is the perfect place to start your next chapter!  Commuters Dream! Trains to NYC! Turnpike! Rutgers University! Robert Wood Johnson Hospital
Unit Size
-
Days on Market
89 days
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
$676
HOA Dues
-
Year Built
1958

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: 2 years ago (CJMLS #2510625R)

Price History

Date / Event Date Event Price
Jun 16, 2025 Sold
Premium
Sold
Apr 12, 2025 In contract -
In contract
Mar 19, 2025 Listed by RE/MAX FIRST REALTY, INC. $535,000
Listed by RE/MAX FIRST REALTY, INC.

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1958
  • Effective Year Built: 1958
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 2
  • Building Style: 0
  • Exterior Walls Type: 2
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 18,800
  • Lot Size Depth Feet: 1,880
  • Lot Size Frontage Feet: 1,000
  • Total Building Area: 1,462
  • Building Area: 1,462
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,462
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000432
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Franklin Township School District
  • Census Tract: 054302

Zoning

  • Zoning: R40

Geography

  • Assessors Map Reference: TAX MAP 86
  • District: 08
  • Parcel: 08 00424- 02-00014
  • Block: 424.02
  • Lot: 14
  • Municipality: FRANKLIN TWP
  • Latitude: 40.532
  • Longitude: -74.5106

    Address

  • Full Address: 32 Cedar Grove Ln
  • Address - House Number: 32
  • Address - Street Name: Cedar Grove
  • Address - Suffix Type: Ln
  • State: NJ
  • City Name: Somerset
  • Carrier Code: R003
  • 4-Digit Zip Code: 1373
  • Zip Code: 08873

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $810,827

    Appraisal Valuation

  • Standard Deviation: 0.1373
  • Valuation Date: Feb 14, 2024
  • Confidence Score: 84
  • Final Value: 466,335
  • High Value: 530,386
  • Low Value: 402,285

    Market Valuation

  • Market Total Value: $415,290
  • Market Land Value: $258,629
  • Market Improvement Value: $156,661

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $419,900
  • Assessed Land Value: $261,500
  • Assessed Improvements Value: $158,400
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 Somerset

Stats & Trends

Median Asking:

$579,000

Sale Price/ft²

$329

Below Asking

0.01%

Average Days on Market

61

Average Home Size

796 ft²

Average Home Age

49.4 years

Currently For Sale

58 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 153 Main St, South Bound Brook Boro, 08880-1408

$3,300 /mo

  • 2 Beds
  • 2 Baths
  • 2,150 ft²
153 Main St #201, South Bound Brook Boro, 08880-1408 Listing by TINA REBIMBAS TORRES
Unit for rent at 130 Winchester Way, Franklin, NJ, 08873

$3,500 /mo

  • 2 Beds
  • 2 Baths
  • 1,336 ft²
130 Winchester Way, Franklin, NJ, 08873 Listing by CAROL ROWE MAIR

Rentals Near You

Click here to view more rentals in the neighborhood.
CJMLS

Listed by: CHIQUITA PITTMAN
RE/MAX FIRST REALTY, INC.
Last Updated: 2 years ago
Data Source: CJMLS , MLS# 2510625R

Frequently Asked Questions

When was property at 32 Cedar Grove Lane built and last sold?
The property at 32 Cedar Grove Lane was built in 1958 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 32 Cedar Grove Lane is $0.
What are some comparable homes to 32 Cedar Grove Lane?
There are currently no comparable homes to 32 Cedar Grove Lane.
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