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Ocean
371 Spruce Drive
$497,500
● House - Off Market

371 Spruce Drive

Brick, NJ 08723
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,532 Ft²
$2,898
Est. Monthly
6.88%
Cap Rate

About This Property

Meticulously maintained, 3 bdrm, 2 full bth, 1532 square foot ranch with attached 1-car garage in desirable Lake Riviera section of Brick. Walk in to the foyer with mirrored walls that flows into the sunken LR loaded with windows. Large EIK w/ tile flrs offers plenty of cabinets and counter space for cooking and also room for a large table. Expanded FR in the rear gives you more living space & also provides tons of storage with a 13ft long closet. Big $$ items already completed w/ New roof, New Furnace and New A/C. All windows Andersen or Pella. Fully fenced in rear yard for privacy. Absolute move-in condition. A stone's throw to the recently renovated park and just a few minute car ride to beaches and boardwalks.
Unit Size
1,532 Ft²
Days on Market
-
Land Size
0.17 acres
Price per sqft
$320
Property Type
House
Property Taxes
$492
HOA Dues
-
Year Built
1968

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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 #22405179)

Price History

Date / Event Date Event Price
Apr 5, 2024 Sold
Premium
Sold
Feb 26, 2024 Listed by RE/MAX Revolution $489,900
Listed by RE/MAX Revolution

Property Highlights

Parking Available
Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1968
  • Effective Year Built: 1968
  • 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: 7
  • Parking Space Count: 1
  • 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: 1,532
  • Building Area: 1,532
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,532
  • 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: L74,75

Neighborhood

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

Zoning

  • Zoning: R75

Geography

  • Assessors Map Reference: TAX MAP 33.3
  • Account Number: 00309769
  • District: 07
  • Parcel: 07 00383- 27-00073
  • Block: 383.27
  • Lot: 73
  • Municipality: BRICK TWP
  • Latitude: 40.0457
  • Longitude: -74.1547

    Address

  • Full Address: 371 Spruce Dr
  • Address - House Number: 371
  • Address - Street Name: Spruce
  • Address - Suffix Type: Dr
  • State: NJ
  • City Name: Brick
  • Carrier Code: C067
  • 4-Digit Zip Code: 5949
  • Zip Code: 08723

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $590,728

    Appraisal Valuation

  • Standard Deviation: 0.0901
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 92
  • Final Value: 495,289
  • High Value: 539,944
  • Low Value: 450,634

    Market Valuation

  • Market Total Value: $243,800
  • Market Land Value: $130,000
  • Market Improvement Value: $113,800

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $243,800
  • Assessed Land Value: $130,000
  • Assessed Improvements Value: $113,800
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

0.19%

Average Days on Market

65

Average Home Size

1604 ft²

Average Home Age

29.5 years

Currently For Sale

4527 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

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MOMMLS

Listed by: Kenneth B Duncan, RE/MAX Revolution
Last Updated: 2 years ago
Data Source: MOMMLS, MLS# 22405179
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 371 Spruce Drive built and last sold?
The property at 371 Spruce Drive was built in 1968 and last sold on Jan 1, 1970 for $0.
How much is this home worth?
The estimated value of the home located at 371 Spruce Drive is $0.
What are some comparable homes to 371 Spruce Drive?
There are currently no comparable homes to 371 Spruce Drive.
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