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Highland Park 08904
48 Cedar Avenue
$699,900
↓ $15K (2.1%)
● Multifamily - For Sale

48 Cedar Avenue

Highland Park, NJ 08904
bedrooms
Studio
bathrooms
0 Bath
$4,529
Est. Monthly
3.96%
Cap Rate

About This Property

Beautiful TWO Family Investment Property located in quiet Highland Park neighborhood.  Each rental unit features 2 Bedrooms, a Bathroom, Kitchen, Dining Room, AND a Bonus Room, allowing for you and /or your tenants to have all the space needed to suit your / their desires.  Add in a full basement with laundry facilities, and an oversized 1.5 half detached garage and this is the perfect investment. Located conveniently by all major highways and short close distance to Rutgers University, St. Peter's Hospital, Robert Wood Johnson Hospital, great dining and shopping, public transportation, and Downtown Highland Park.
Unit Size
-
Days on Market
22 days
Land Size
0.07 acres
Price per sqft
-
Property Type
Multifamily
Property Taxes
$1,091
HOA Dues
-
Year Built
1924

Listed By

MICHAEL MCDONALD
[email protected]
KELLER WILLIAMS ELITE REALTORS

Payment Calculator

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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.

You can learn more about cap rate here .

Last updated: 2 days ago (CJMLS #2503765R)

Price History

Date / Event Date Event Price
Oct 10, 2024 Price Decreased $699,900
↓ $15K (2.1%)
Price Decreased
Sep 20, 2024 Listed by KELLER WILLIAMS ELITE REALTORS $715,000
Listed by KELLER WILLIAMS ELITE REALTORS
Mar 21, 2014 Sold to Plains Real Estate Investme... $330,000
Sold to Plains Real Estate Investme...

Property Highlights

Garage
Parking Available
Parking Details
Has Garage
Parking Features: Oversized, Detached, On Street
Interior Details
Interior Features: Unit 1(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Living Room, See Remarks), Unit 2(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Living Room, See Remarks)
Appliances: Water Heater(See Remarks), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
Basement: Full, Storage Space, Tenant Use, Interior Entry, Laundry Facilities
Exterior Details
Curbs, Porch(es) - Open, Deck
PropertySubType: 2 Family
Stories (Total): 2
Patio and Porch Features: Porch(es) - Open, Deck
Lot Size Area: 0.0735
Lot Size Acres: 0.0735
Zoning: A
Parcel Number: 0701801000000012
Water Source: Public
Financial Details
Tax Annual Amount: $13,097
Tax Year: $2,023
Utilities Details
Utilities: Electricity Connected, Natural Gas Connected
Cooling Type: A/C Wall Unit(s), See Remarks
Heating Type: Radiators-Hot Water, See Remarks, Separate Control
Sewer : Public Sewer
Location Details
Community Features: Curbs

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
Sold
Multifamily
Stu
-
-
$750,000 Jun 17, 2024
$750,000 Aug 2, 2024
$976/mo
Sold
Townhouse
3 Beds
4 Baths
-
$749,000 Sep 6, 2022
$749,000 Nov 8, 2022
$2,498/mo
Sold
House
5 Beds
3 Baths
-
$633,000 Sep 9, 2021
$633,000 Nov 3, 2021
$1,405/mo
Sold
Townhouse
3 Beds
4 Baths
-
$705,000 Feb 2, 2020
$705,000 Jun 28, 2021
$891/mo
Sold
Townhouse
4 Beds
4 Baths
-
$650,000 Dec 12, 2019
$650,000 Apr 29, 2020
$511/mo
Sold
Townhouse
3 Beds
4 Baths
-
$675,000 Mar 18, 2021
$675,000 Dec 10, 2021
$526/mo
In Contract
Other
Loft
3 Baths
-
$599,900 Aug 14, 2024
-
$1,235/mo
In Contract
Commercial
Loft
-
-
$825,000 May 13, 2024
-
$1,110/mo
Active
House
5 Beds
3 Baths
-
$675,000 Sep 7, 2024
-
$1,172/mo
Active
House
6 Beds
4 Baths
-
$775,000 Jul 18, 2024
-
$1,383/mo
Active
House
3 Beds
3 Baths
-
$598,500 Aug 7, 2024
-
$1,219/mo
Active
Condo
3 Beds
4 Baths
-
$639,000 Jul 15, 2024
-
$1,205/mo

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By
20190720
07/20/2019
Studio
-
-
$457,000
bedrooms
Studio
bathrooms
-
-
-
-
-

Building Info

48 Cedar Avenue 48 Cedar Avenue, Highland Park, NJ 08904
  • 1 Unit for Sale
More about this Building
48 Cedar Avenue
Want to find out who owns 48 Cedar Avenue, Highland Park, NJ 08904? Get detailed property transactions here .

About Highland Park

Stats & Trends

Median Asking:

$499,444

Sale Price/ft²

$304

Below Asking

0.01%

Average Days on Market

67

Average Home Size

125 ft²

Average Home Age

-

Currently For Sale

18 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

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Nearby Rentals

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305 Peyton Place, New Brunswick, NJ, 08901 Listing by MIN TANG
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$3,200 /mo

  • 3 Beds
  • 1 Bath
65-65 Hale Street, New Brunswick, NJ, 08901 Listing by BRUCE L. MCDONALD
Unit for rent at 309 Peyton Place, New Brunswick, NJ, 08901

$3,300 /mo

  • 2 Beds
  • 2 Baths
  • 1,004 ft²
309 Peyton Place, New Brunswick, NJ, 08901 Listing by NEENA SAMPAT

Rentals Near You

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CJMLS

Listed by: MICHAEL MCDONALD
KELLER WILLIAMS ELITE REALTORS
Last Updated: 2 days ago
Data Source: CJMLS , MLS# 2503765R
Courtesy of RH Advisors, Inc. and RHP Realty NJ, Inc. CalDRE: 00494703
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