551 Ocean Avenue

551 Ocean Avenue in Jersey City, NJ was first built in 1985 and is 39 years old. This has been categorized as a residential property type. For those interested in architecture, the building on the property was built in a colonial style. There are a total of 2 floors. There are a total of 2 rooms in the home, of which, 2 are bedrooms. 551 Ocean Avenue has 1,248 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. The linear feet across the front of the lot is 240 ft and the linear feet between the front and back of the lot is 940. In total, the area measurement of the land is 2,257 square feet.

Learn more about the property and building on this page. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with frame control joints. As for heating, the home is utilizing a heating system. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 551 Ocean Avenue sold most recently in Oct 30, 2015 for a total of $145,000. If you work out the math, that's approximately a cost of $116.19 per sqft. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $3,258 in taxes each year. 551 Ocean Avenue was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $145,000. If we break it down further, the land itself was valued at $50,000. Improvements to the property, however, were assessed at a total of $95,000. The property's total market value has been marked the same as the total assessed value which is pretty typical. Speaking of costs, many buyers and sellers often forget to take into consideration the closing costs they may occur. Closing costs can stem from anything mortgage or property related to fees related to your property title. As you'll soon learn from our guide, fees can quickly add up hence why as a rule of thumb, we typically recommend setting aside at least 5% of the purchase price to cover potential closing costs. Don't worry, any additional you save up can always go towards your principal. Better safe than sorry!