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Ocean 08731
351 Enterprise Drive
$505,000
● House - Off Market

351 Enterprise Drive

Forked River, NJ 08731
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,514 Ft²
$2,951
Est. Monthly
6.01%
Cap Rate

About This Property

Welcome to this stunning expanded ranch ON A TRIPLE LOT in Forked River.This home has undergone a comprehensive renovation, featuring a new roof, new Andersen windows with window treatments included,new gutters and new outdoor lighting among other enhancements. Kitchen with granite counter tops,new baths,updated sunroom,all new interior doors,ceiling fans throughout,family room with Bose surround sound, 1-car garage with heat,two driveways one with double spaces and the other with triple spaces,a above ground gas heated pool,patio,large sheds with power, security system with 12 exterior cameras and voice activated warning capabilities. The electrical includes a 200 amp service,supplemented by a separate 50-amp service for RV or Boat, and an additional outlet for generator connectio
Unit Size
1,514 Ft²
Days on Market
-
Land Size
0.31 acres
Price per sqft
$330
Property Type
House
Property Taxes
$500
HOA Dues
-
Year Built
1985

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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 #22501128)

Price History

Date / Event Date Event Price
Apr 25, 2025 Sold
Premium
Sold
Feb 7, 2025 In contract -
In contract
Jan 27, 2025 Price Decreased $499,000
↓ $51K (9.3%)
Price Decreased
Jan 13, 2025 Listed by C21/ Action Plus Realty $549,900
Listed by C21/ Action Plus Realty

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1985
  • Effective Year Built: 1985
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • 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: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 13,680
  • Lot Size Depth Feet: 1,200
  • Lot Size Frontage Feet: 1,140
  • Total Building Area: 1,514
  • Building Area: 1,514
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,514
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000314
  • Standard Land Use Code: 1001
  • County Land Use Code: 2
  • Legal Description 1: ADDITIONAL LOTS: LOTS 29,30

Neighborhood

  • School District Name: Lacey Township School District
  • Census Tract: 732101

Zoning

  • Zoning: R75

Geography

  • Assessors Map Reference: TAX MAP 32
  • Account Number: 00037934
  • District: 13
  • Parcel: 13 00436-0000-00028
  • Block: 436
  • Lot: 28
  • Municipality: LACEY TWP
  • Latitude: 39.8479
  • Longitude: -74.1754

    Address

  • Full Address: 351 Enterprise Dr
  • Address - House Number: 351
  • Address - Street Name: Enterprise
  • Address - Suffix Type: Dr
  • State: NJ
  • City Name: Forked River
  • Carrier Code: R007
  • 4-Digit Zip Code: 1833
  • Zip Code: 08731

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $536,105

    Appraisal Valuation

  • Standard Deviation: 0.221
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 69
  • Final Value: 451,082
  • High Value: 550,794
  • Low Value: 351,371

    Market Valuation

  • Market Total Value: $236,900
  • Market Land Value: $88,500
  • Market Improvement Value: $148,400

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $236,900
  • Assessed Land Value: $88,500
  • Assessed Improvements Value: $148,400

    Sales

  • Current Sale Contract Date: Mar 24, 2010
  • Current Sale Recording Date: Apr 07, 2010
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 33
  • Current Sale Input Document Number: 2010029095
  • Previous Sale Recording Date: Oct 06, 2004
  • Previous Sale Contract Date: Sep 13, 2004
  • Previous Sale Amount: $259,000
  • 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 Ocean

Stats & Trends

Median Asking:

$499,000

Sale Price/ft²

$303

Above Asking

0.00%

Average Days on Market

65

Average Home Size

1598 ft²

Average Home Age

29.3 years

Currently For Sale

4418 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 101 Maria Loretta Lane, Forked River, NJ, 08731

$3,000 /mo

  • 3 Beds
  • 2 Baths
101 Maria Loretta Lane #101, Forked River, NJ, 08731 Listing by William R Hagan
Unit for rent at 602 Cyprus Court, Forked River, NJ, 08731

$3,100 /mo

  • 3 Beds
  • 3 Baths
  • 1,558 ft²
602 Cyprus Court #602, Forked River, NJ, 08731 Listing by Danielle Coyle

Rentals Near You

Click here to view more rentals in the neighborhood.
MOMMLS

Listed by: Joyce Ellis-Grasso, C21/ Action Plus Realty
Last Updated: 2 years ago
Data Source: MOMMLS, MLS# 22501128
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 351 Enterprise Drive built and last sold?
The property at 351 Enterprise Drive was built in 1985 and last sold on Mar 24, 2010 for $117,500.
How much is this home worth?
The estimated value of the home located at 351 Enterprise Drive is $0.
What are some comparable homes to 351 Enterprise Drive?
There are currently no comparable homes to 351 Enterprise Drive.
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