397 S 1ST ROAD
About This Property
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 5, 2019 | Listed | $499,900 | |
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Pro Builder's Alert. Rare opportunity in Hammonton. 9.81 Acres with public water and sewer. The property is located in the R-3 Zone. R-3 allows for 1 house per 25,000 sq ft, also it allows for twin units per 37,500 sq ft. This property is adjacent to the Tim Schaeffer development "Woodbridge" which was a wildly successful development. This lot has many of the same characteristics as Woodbridge. There is access and frontage on both Grand Street and 1st Road. The frontage on both roadways are 330' respectively. The length of the property is 1,295' (its a perfect rectangle). A ballpark estimate of how many possible lots (this is inclusive of 50' conceptual down the middle of the lot roadway), would be 14 to 16 houses or 16 to 18 twin units. These are estimates only! There are two houses on the lot, both close to 1st Road. The house to the rear is a likely tear-down. The house closer to the road is likely salvageable however its in poor condition. There are also 3 trailer bodies on the property. Entry into the houses is strictly prohibited unless the buyer prospect signs a hold harmless agreement prior to entry. Please contact Joe Wiessner Realty for the hold harmless agreement. Entry to the three trailers are strictly prohibited. All outbuildings are sold strictly as is. All engineering work and approvals (Local, State, and Federal) shall be the responsibility of the Buyer, at the Buyers sole cost and expense. Closing to occur once a zoning permit is attained. Parcels like this are rare indeed. Call to today to stake your claim.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017