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Essex 07041
53 Elm St
$2,100,000
● House - Off Market

53 Elm St

Millburn Twp., NJ 07041
bedrooms
4 Beds
bathrooms
4.1 Baths
$1,704,503
RealtyHop Estimate
0.56%
Since Sep 1, 2023
NY-New York
Primary Model
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1926

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.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 4 years ago (GSMLS #3854030)

Price History

Date / Event Date Event Price
Aug 14, 2023 Sold
Premium
Sold
Jul 15, 2023 In contract -
In contract

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 1926
  • Effective Year Built: 1926
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 7
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 10,001
  • Lot Size Depth Feet: 2,000
  • Lot Size Frontage Feet: 500
  • Total Building Area: 3,338
  • Building Area: 3,338
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 3,338
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000230
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Millburn Township School District
  • Census Tract: 020200

Geography

  • Assessors Map Reference: TAX MAP 2
  • District: 12
  • Parcel: 12 00209-0000-00005
  • Block: 209
  • Lot: 5
  • Municipality: MILLBURN TWP
  • Latitude: 40.7297
  • Longitude: -74.2899

    Address

  • Full Address: 53 Elm St
  • Address - House Number: 53
  • Address - Street Name: Elm
  • Address - Suffix Type: St
  • State: NJ
  • City Name: Millburn
  • Carrier Code: C008
  • 4-Digit Zip Code: 2014
  • Zip Code: 07041

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $1,855,824

    Appraisal Valuation

  • Standard Deviation: 0.2224
  • Valuation Date: Dec 20, 2023
  • Confidence Score: 69
  • Final Value: 1,703,648
  • High Value: 2,082,645
  • Low Value: 1,324,650

    Market Valuation

  • Market Total Value: $968,000
  • Market Land Value: $490,300
  • Market Improvement Value: $477,700

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $968,000
  • Assessed Land Value: $490,300
  • Assessed Improvements Value: $477,700

    Exemptions

  • Veteran Exemption: Yes

    Sales

  • Current Sale Contract Date: Oct 27, 2023
  • Current Sale Recording Date: Nov 27, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 12
  • Current Sale Input Document Number: 70726
  • Previous Sale Recording Date: Aug 29, 2023
  • Previous Sale Contract Date: Aug 10, 2023
  • Previous Sale Amount: $2,100,000
  • Previous Sale Document Type: 27

    Financing

  • First Mortgage Financing Type: ADJ
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 Essex

Stats & Trends

Median Asking:

$629,000

Sale Price/ft²

$325

Below Asking

0.01%

Average Days on Market

48

Average Home Size

457 ft²

Average Home Age

-

Currently For Sale

2785 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 40 Ocean St, Millburn Twp., 07041-1147

$4,200 /mo

  • 3 Beds
  • 2 Baths
40 Ocean St #2, Millburn Twp., 07041-1147 Listing by VISHAL PODDAR
Unit for rent at 49 Caldwell Pl, Springfield Twp., 07081-1713

$3,800 /mo

  • 5 Beds
  • 2 Baths
49 Caldwell Pl, Springfield Twp., 07081-1713 Listing by CRISTINA HARISH

Rentals Near You

Click here to view more rentals in the neighborhood.
GSMLS

Last Updated: 4 years ago
Data Source: GSMLS, MLS# 3854030
The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. Copyright © 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. 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 53 Elm Street built and last sold?
The property at 53 Elm Street was built in 1926 and last sold on Oct 27, 2023 for $2,190,000.
How much is this home worth?
The estimated value of the home located at 53 Elm Street is $0.
What are some comparable homes to 53 Elm Street?
There are currently no comparable homes to 53 Elm Street.
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