Listed by: Simon Westfall-Kwong, [email protected], EXP Realty, LLC, (866) 201-6210, Listing Courtesy of NJMLS
$1,585,000
●
House -
Off Market
51 Southern Slope Drive
Millburn, NJ 07041
4 Beds
3 Baths,
1
Half Bath
$1,612,854
RealtyHop Estimate
1.76%
Since Jul 1, 2023
NY-New York
Primary Model
About This Property
Meticulously updated and expanded 4 / 5 Bedroom, 2 Full and 1 Half
Bathroom Colonial located in one of the best neighborhoods a few
blocks from South Mountain Elementary School, Taylor Park and
downtown Millburn + less than a half mile to the Millburn's NYC
Direct Train Station. Modern upgrades are everywhere including a
magnificent Kitchen / Family Room / Primary Suite addition. Gourmet
Chef's Kitchen features granite counters, high-end appliances and
breakfast bar. Living Room flows to Sunroom and formal Dining Room.
Family Room with a floor-to-ceiling brick wood burning fireplace.
Updated Powder Room completes 1st level. Primary Bedroom Suite
provides 2 walk-in closets, hardwood floors and luxe Bathroom. 2
additional bedrooms on this level + office with closet + updated
Full Bath rounds out 2nd level. Private 3rd floor Bedroom runs
width of house. Lower Level has Gym, Laundry + space for Rec Area.
Backyard is fully fenced with a gorgeous paver patio and Kitchen
access.
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
$1,330
HOA Dues
-
Year Built
1926
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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: 4 years ago (NJMLS #23013113)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 16, 2023 | Sold | ||
| Sold | |||
| May 12, 2023 | In contract | - | |
| In contract | |||
| May 4, 2023 | Listed by EXP Realty, LLC | $1,198,000 | |
| Listed by EXP Realty, LLC | |||
Property Highlights
Garage
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Type
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ft²
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Listed On
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Sold On
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HOA + Taxes
About Essex
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Listed by: Simon Westfall-Kwong
EXP Realty, LLC
Last Updated: 4 years ago
Data Source: NJMLS , MLS# 23013113
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.
EXP Realty, LLC
Last Updated: 4 years ago
Data Source: NJMLS , MLS# 23013113
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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