Listed by: Elizabeth Morris, [email protected], Prominent Properties Sotheby's International Realty-Montclair, (973) 783-6900, Listing Courtesy of NJMLS
$1,425,000
●
House -
Off Market
5 Franklin Place
Montclair, NJ 07042
5 Beds
5 Baths,
1
Half Bath
$9,153
Est. Monthly
4.08%
Cap Rate
About This Property
Welcome to this 20-year-young Colonial home, minutes from NYC
trains. Circular driveway leads to brick exterior with antique
stained glass accents. Main level has double height foyer, sunlit,
spacious LR with French doors leading to patio, Fam Rm perfect for
movie night, renovated chef's kitchen complete with granite
countertops, custom cabinetry, SS appliances, including built-in
microwave & wine fridge, oversized DR, convenient home office, &
powder room. Upstairs, primary suite features 2 walk-in closets,
renovated ensuite bath with double sinks, stall shower, jetted tub
& private balcony. 4 more spacious bedrooms, 2 of which have
ensuite baths. Enjoy cozy, loft-like den, hallway bath, &
convenient laundry to complete the 2nd flr. Basement provides ample
storage & houses utilities, including 2 water heaters from 2021 &
two-zone HVAC system (one unit also from 2021). Outside, find
mature plantings & perennial gardens with gazebo, fountain & rose
garden - truly magical!
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
$2,156
HOA Dues
-
Year Built
2003
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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 (NJMLS #24020481)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 20, 2024 | Sold | ||
| Sold | |||
| Jul 9, 2024 | In contract | - | |
| In contract | |||
| Jun 26, 2024 | Listed by Prominent Properties Sotheby's International Realty-Montclair | $1,000,000 | |
| Listed by Prominent Properties Sotheby's International Realty-Montclair | |||
Property Highlights
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Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Status
Type
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ft²
Price/ft²
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Listed On
Listed On
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Sold On
Sold On
HOA + Taxes
About Essex
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Listed by: Elizabeth Morris
Prominent Properties Sotheby's International Realty-Montclair
Last Updated: 3 years ago
Data Source: NJMLS , MLS# 24020481
The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than RHP Realty NJ, Inc. are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.
Prominent Properties Sotheby's International Realty-Montclair
Last Updated: 3 years ago
Data Source: NJMLS , MLS# 24020481
All information deemed reliable but not guaranteed.© 2026 New Jersey Multiple Listing Service Inc. All rights reserved. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
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