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Ocean
348 Spruce Drive
$250,000
● House - Off Market

348 Spruce Drive

Brick, NJ 08723
bedrooms
2 Beds
bathrooms
1 Bath
$292,505
RealtyHop Estimate
12.55%
Since Nov 1, 2021
National-US
Primary Model

About This Property

Welcome to Lake Riviera, a wonderful place to call home!  Conveniently located close to Garden State Parkway , all your shopping needs, multiple beaches, and a lake within the development.  Ranch style home with newer updated siding is situated on a beautiful 75 x 100 lot boosting a very spacious shaded deck, perfect for relaxing and entertaining. Kitchen offers more than ample amount of cabinets and counter space. Hardwood floors and ceiling fans throughout. Florida room off from the kitchen does have its own heater for those chilly nights. Deep driveway fits 2+ cars. Full attic has plenty of storage space. Don't hesitate, make a showing appointment today!
Unit Size
-
Days on Market
-
Land Size
0.17 acres
Price per sqft
-
Property Type
House
Property Taxes
$358
HOA Dues
-
Year Built
1958

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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 (MOMLS #22121827)

Price History

Date / Event Date Event Price
Oct 29, 2021 Sold
Premium
Sold
Jul 6, 2021 Listed by RE/MAX First Realty $259,900
Listed by RE/MAX First Realty

Property Highlights

Building Info

Overview

    General

  • Year Built: 1958
  • Effective Year Built: 1958
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • 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: 7,500
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 750
  • Total Building Area: 768
  • Building Area: 768
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 768
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000172
  • Standard Land Use Code: 1001
  • County Land Use Code: 2
  • Legal Description 1: ADDITIONAL LOTS: L17,18

Neighborhood

  • School District Name: Brick Township School District
  • Census Tract: 714000

Zoning

  • Zoning: R75

Geography

  • Assessors Map Reference: TAX MAP 33.3
  • Account Number: 00309845
  • District: 07
  • Parcel: 07 00383- 30-00016
  • Block: 383.30
  • Lot: 16
  • Municipality: BRICK TWP
  • Latitude: 40.044
  • Longitude: -74.1544

    Address

  • Full Address: 348 Spruce Dr
  • Address - House Number: 348
  • Address - Street Name: Spruce
  • Address - Suffix Type: Dr
  • State: NJ
  • City Name: Brick
  • Carrier Code: C067
  • 4-Digit Zip Code: 5947
  • Zip Code: 08723

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $444,863

    Appraisal Valuation

  • Standard Deviation: 0.2094
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 71
  • Final Value: 329,801
  • High Value: 398,864
  • Low Value: 260,739

    Market Valuation

  • Market Total Value: $183,600
  • Market Land Value: $130,000
  • Market Improvement Value: $53,600

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $183,600
  • Assessed Land Value: $130,000
  • Assessed Improvements Value: $53,600

    Sales

  • Current Sale Contract Date: Oct 22, 2021
  • Current Sale Recording Date: Nov 10, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 2021161057
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 Ocean

Stats & Trends

Median Asking:

$499,000

Sale Price/ft²

$302

Above Asking

0.00%

Average Days on Market

65

Average Home Size

1591 ft²

Average Home Age

24.6 years

Currently For Sale

4249 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 931 Cypress Avenue, Brick, NJ, 08723

$2,895 /mo

  • 3 Beds
  • 1 Bath
931 Cypress Avenue, Brick, NJ, 08723 Listing by Rajeshri Masher

Rentals Near You

Click here to view more rentals in the neighborhood.
MOMMLS

Listed by: Donna Stralkus, RE/MAX First Realty
Last Updated: 2 years ago
Data Source: MOMMLS, MLS# 22121827
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. 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 348 Spruce Drive built and last sold?
The property at 348 Spruce Drive was built in 1958 and last sold on Oct 22, 2021 for $250,000.
How much is this home worth?
The estimated value of the home located at 348 Spruce Drive is $262,499.
What are some comparable homes to 348 Spruce Drive?
There are currently no comparable homes to 348 Spruce Drive.
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