Listed by: Nicole McNamara, [email protected], Weichert Realtors, Ridgewood, (201) 445-9500, Listing Courtesy of NJMLS
$1,255,000
●
House -
Off Market
514 Summit Street
Ridgewood, NJ 07450
4 Beds
3 Baths,
1
Half Bath
$7,314
Est. Monthly
3.49%
Cap Rate
About This Property
Located on a tranquil st in Ridgewood's coveted Willard school
district sits this perfectly renovated home featuring tasteful
design packed with easy-living features and the most idyllic
backyard oasis you'll find in town. You'll be impressed by the
openness and natural light as you step into the LR of this 4bed,
2.5bath cape w/wood burning fpl and picture window opening to a
premium quality kitchen with quartz, Sub-Zero, Miele & Bosch
integrated appliances. French doors lead to a paver patio complete
w/outdoor kitchen and sprawling backyard filled with perennial
gardens, gazebo, and workshop/shed w/power & WiFi. Two bedrooms and
full bath complete the 1st fl. The 2nd fl offers 2 large bdrms and
full bath, all w/skylights, hdwd floors, and ample closets.
Downstairs you'll be wowed by the lounge easily adapted to an add'l
bedroom. A 1/2 bath, laundry, office & garage access complete the
lower level. All of this plus several valuable upgrades provide
peace of mind to a new homeowner
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
$1,152
HOA Dues
-
Year Built
1951
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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 #24014052)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 27, 2024 | Sold | ||
| Sold | |||
| May 21, 2024 | In contract | - | |
| In contract | |||
| May 7, 2024 | Listed by Weichert Realtors, Ridgewood | $1,000,000 | |
| Listed by Weichert Realtors, Ridgewood | |||
Property Highlights
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Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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ft²
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Listed On
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Closing Price
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Sold On
HOA + Taxes
About Ridgewood
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Listed by: Nicole McNamara
Weichert Realtors, Ridgewood
Last Updated: 3 years ago
Data Source: NJMLS , MLS# 24014052
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.
Weichert Realtors, Ridgewood
Last Updated: 3 years ago
Data Source: NJMLS , MLS# 24014052
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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