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Ocean Acres 08050
487 Lighthouse Drive
$375,000
● House - Off Market

487 Lighthouse Drive

Manahawkin, NJ 08050
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,090 Ft²
$2,104
Est. Monthly
8.86%
Cap Rate

About This Property

Move right into this affordable Ocean Acres ranch on a spacious property that has tons of room for outdoor living and potential for expansion. Set back off the road, this cute ranch has new wide plank flooring, new kitchen appliances and cabinets, updated bathrooms, newer furnace and private primary bedroom with its own bathroom attached. Roomy eat in kitchen space has plenty of space for full table, laundry closet with side-by-side washer and dryer and access to back yard. This is a great condo alternative with low taxes and no HOA fees, plenty of privacy outside and minutes to the parkway or 72. Quick closing possible!
Unit Size
1,090 Ft²
Days on Market
-
Land Size
0.21 acres
Price per sqft
$330
Property Type
House
Property Taxes
$336
HOA Dues
-
Year Built
1996

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Last updated: 3 years ago (MOMLS #22419752)

Price History

Date / Event Date Event Price
Aug 29, 2024 Sold
Premium
Sold
Jul 30, 2024 In contract -
In contract
Jul 20, 2024 Price Decreased $360,000
↓ $9K (2.4%)
Price Decreased
Jul 12, 2024 Listed by C21/ Herbertsville Real Estate $369,000
Listed by C21/ Herbertsville Real Estate
Jul 31, 2020 Sold
Premium
Sold
Show More

Property Highlights

Parking Available

Building Info

Overview

    General

  • Year Built: 1996
  • Effective Year Built: 1996
  • 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: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,000
  • Lot Size Depth Feet: 1,200
  • Lot Size Frontage Feet: 750
  • Total Building Area: 1,090
  • Building Area: 1,090
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 1,090
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000207
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Stafford Township School District
  • Census Tract: 735003

Zoning

  • Zoning: R90

Geography

  • Assessors Map Reference: TAX MAP 26
  • District: 31
  • Parcel: 31 00044- 70-00006
  • Block: 44.70
  • Lot: 6
  • Municipality: STAFFORD TWP
  • Latitude: 39.7383
  • Longitude: -74.2718

    Address

  • Full Address: 487 Lighthouse Dr
  • Address - House Number: 487
  • Address - Street Name: Lighthouse
  • Address - Suffix Type: Dr
  • State: NJ
  • City Name: Manahawkin
  • Carrier Code: C004
  • 4-Digit Zip Code: 2140
  • Zip Code: 08050

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $385,585

    Appraisal Valuation

  • Standard Deviation: 0.224
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 69
  • Final Value: 351,934
  • High Value: 430,775
  • Low Value: 273,093

    Market Valuation

  • Market Total Value: $163,800
  • Market Land Value: $55,400
  • Market Improvement Value: $108,400

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $163,800
  • Assessed Land Value: $55,400
  • Assessed Improvements Value: $108,400

    Sales

  • Current Sale Contract Date: Jul 31, 2020
  • Current Sale Recording Date: Aug 20, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 2020090731
  • Previous Sale Recording Date: Oct 12, 2012
  • Previous Sale Contract Date: Sep 06, 2012
  • Previous Sale Amount: $147,000
  • 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 Acres

Stats & Trends

Median Asking:

$559,250

Sale Price/ft²

$293

Below Asking

0.01%

Average Days on Market

69

Average Home Size

1565 ft²

Average Home Age

26.1 years

Currently For Sale

56 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 80 Bowline Street, Barnegat, NJ, 08005

$3,200 /mo

  • 3 Beds
  • 1 Bath
  • 1,908 ft²
80 Bowline Street, Barnegat, NJ, 08005 Listing by Karen Rucando
Unit for rent at 104 Nautilus Drive, Manahawkin, NJ 08050

$3,000 /mo

  • 4 Beds
  • 1.5 Baths
104 Nautilus Drive, Manahawkin, NJ 08050 Listing by DITH PAUL

Rentals Near You

Click here to view more rentals in the neighborhood.
MOMMLS

Listed by: Lindsay Woodruff, C21/ Herbertsville Real Estate
Last Updated: 3 years ago
Data Source: MOMMLS, MLS# 22419752
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 487 Lighthouse Drive built and last sold?
The property at 487 Lighthouse Drive was built in 1996 and last sold on Jul 31, 2020 for $222,000.
How much is this home worth?
The estimated value of the home located at 487 Lighthouse Drive is $362,095.
What are some comparable homes to 487 Lighthouse Drive?
There are currently no comparable homes to 487 Lighthouse Drive.
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