1
Map
$55,000
↑ $10K (22.2%)
●
Land -
For Sale
55 WALNUT STREET
PENNS GROVE, NJ 08069
Studio
0 Bath
$327
Est. Monthly
51.04%
Cap Rate
About This Property
Located in the Borough of Penns Grove where taxes are relatively
low! For the investor looking to build or the owner occupant
wanting to construct their own dream house. An area starving
for investment and development; 55-57 Walnut Street offers
ample space to meet all needs. Public water and sewer
available. The area supports most any venture with access to
all utilities. Thinking bigger, a bundle of additional
available properties is available encompassing connecting
properties on Walnut Street and Cumberland Avenue, for development
or elsewhere in the borough. Located just off US Route 130
(Virginia Avenue), this property is situated in close proximity to
all major cities, highways and those shopping and event locations.
Take advantage of low taxes and a thirst for investment by
choosing Penns Grove and build upon the opportunities available
here.
Unit Size
-
Days on Market
639 days
Land Size
0.13 acres
Price per sqft
-
Property Type
Land
Property Taxes
$57
HOA Dues
-
Year Built
-
Listed By
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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: 2 years ago (Bright MLS #NJSA2013680)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 26, 2025 | Price Increased |
$55,000
↑ $10K
(22.2%) | |
| Price Increased | |||
| Jan 31, 2025 | Listed | $45,000 | |
| Listed | |||
| | |||
|
Located in the Borough of Penns Grove where taxes are relatively low! For the investor looking to build or the owner occupant wanting to construct their own dream house. An area starving for investment and development; 55-57 Walnut Street offers ample space to meet all needs. Public water and sewer available. The area supports most any venture with access to all utilities. Thinking bigger, a bundle of additional available properties is available encompassing connecting properties on Walnut Street and Cumberland Avenue, for development or elsewhere in the borough. Located just off US Route 130 (Virginia Avenue), this property is situated in close proximity to all major cities, highways and those shopping and event locations. Take advantage of low taxes and a thirst for investment by choosing Penns Grove and build upon the opportunities available here.
| |||
Property Highlights
Exterior Details
Lot Size Area: 5610
Lot Size Units: Square Feet
Lot Size Acres: 0.13
Lot Size Square Feet: 5610
Lot Size Dimensions: 51.00 x 110.00
Tax Lot: 00001
Water Source: Public Hook-up Available
Financial Details
Tax Assessed Value: $12,300
Tax Annual Amount: $682
Utilities Details
Sewer : Public Hook/Up Avail
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Penns Grove
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Listed by: Joseph E. Venello Jr.
American Dream Realty of South Jersey
Last Updated: 9 hours ago
Data Source: Bright MLS , MLS# NJSA2013680
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American Dream Realty of South Jersey
Last Updated: 9 hours ago
Data Source: Bright MLS , MLS# NJSA2013680
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