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Ocean 08731
388 Constitution Drive
$375,000
● House - Off Market

388 Constitution Drive

Forked River, NJ 08731
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,360 Ft²
$368,990
RealtyHop Estimate
-0.27%
Since Aug 1, 2023
National-US
Primary Model

About This Property

Welcome to this charming home nestled in Forked River, NJ, This home features three bedrooms, two bathrooms, living rm, dining rm, family rm, beautiful hardwood floors The garage provides convenient parking and extra storage space. One of the highlights of this property is the three Season Rm and backyard that backs up to a picturesque wooded area, enjoy the sights and sounds of nature.  Updates include roof 5 years old, furnace and AC less than 10 years old, For boating enthusiasts, this property is conveniently situated close to marinas, When it's time to enjoy some fun in the sun, you'll be delighted to know that the Jersey Shore beaches and boardwalk are just a short 25-minute drive away. Embrace the coastal lifestyle, soak up the sun, and create lasting memories.
Unit Size
1,360 Ft²
Days on Market
-
Land Size
0.22 acres
Price per sqft
$272
Property Type
House
Property Taxes
$359
HOA Dues
-
Year Built
1969

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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: 3 years ago (MOMLS #22313783)

Price History

Date / Event Date Event Price
Jul 21, 2023 Sold
Premium
Sold
Jun 29, 2023 In contract -
In contract
May 22, 2023 Listed by Berkshire Hathaway HomeServices Zack Shore Realtors $370,000
Listed by Berkshire Hathaway HomeServices Zack Shore Realtors

Property Highlights

Garage
Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1969
  • Effective Year Built: 1969
  • 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: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,700
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 970
  • Total Building Area: 1,360
  • Building Area: 1,360
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,360
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000223
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

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

Zoning

  • Zoning: R75

Geography

  • Assessors Map Reference: TAX MAP 33
  • Account Number: 00038817
  • District: 13
  • Parcel: 13 00447-0000-00008
  • Block: 447
  • Lot: 8
  • Municipality: LACEY TWP
  • Latitude: 39.8515
  • Longitude: -74.174

    Address

  • Full Address: 388 Constitution Dr
  • Address - House Number: 388
  • Address - Street Name: Constitution
  • Address - Suffix Type: Dr
  • State: NJ
  • City Name: Forked River
  • Carrier Code: R007
  • 4-Digit Zip Code: 1723
  • Zip Code: 08731

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $406,102

    Appraisal Valuation

  • Standard Deviation: 0.2246
  • Valuation Date: Dec 13, 2023
  • Confidence Score: 69
  • Final Value: 377,784
  • High Value: 462,664
  • Low Value: 292,905

    Market Valuation

  • Market Total Value: $190,500
  • Market Land Value: $82,000
  • Market Improvement Value: $108,500

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $190,500
  • Assessed Land Value: $82,000
  • Assessed Improvements Value: $108,500

    Exemptions

  • Veteran Exemption: Yes

    Sales

  • Current Sale Contract Date: Jul 20, 2023
  • Current Sale Recording Date: Jul 31, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 56874
  • Previous Sale Recording Date: Jun 20, 1994
  • Previous Sale Contract Date: Jun 15, 1994
  • Previous Sale Amount: $105,000
  • Previous Sale Document Type: 27
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

1597 ft²

Average Home Age

29 years

Currently For Sale

4344 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: Eileen Murphy, Berkshire Hathaway HomeServices Zack Shore Realtors
Last Updated: 3 years ago
Data Source: MOMMLS, MLS# 22313783
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 388 Constitution Drive built and last sold?
The property at 388 Constitution Drive was built in 1969 and last sold on Jul 20, 2023 for $375,000.
How much is this home worth?
The estimated value of the home located at 388 Constitution Drive is $0.
What are some comparable homes to 388 Constitution Drive?
There are currently no comparable homes to 388 Constitution Drive.
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