451 Locust Point Road
About This Property
Own a piece of Locust history - the former Captain Pitman Johnson House. Situated on Clay Pit Creek - a pearl left behind by the oyster industry from long ago. With its excellent location on the creek, this site was very important in the local oyster industry when Captain Johnson sailed his sloop from Clay Pit to NYC. The home was floated from a location in lower Manhattan over 100 years ago and placed on its present position on Locust Point Road. The kitchen is open to family room overlooking the water with a ''postcard'' view that never stops to delight. Updates will be required to bring the home up to today's standards, but the waterfront location and fabulous views are perfect the way they are. This property is located in the Locust section of Middletown Township with a Rumson mailing zip code of 07760. Room sizes are approximate. Square footage as per Monmouth County tax records.
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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%.
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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.
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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 |
|---|---|---|---|
| Feb 9, 2017 | Sold | ||
| Sold | |||
| Nov 6, 2015 | Listed by Heritage House Sotheby's International Realty | $999,000 | |
| Listed by Heritage House Sotheby's International Realty | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017