$899,000
●
House -
In Contract
557 Homer Ter
Union Twp., NJ 07083
5 Beds
3 Baths,
1
Half Bath
$5,600
Est. Monthly
About This Property
Designed with both everyday living and flexibility in mind, this
Colonial in Union's Washington section offers a spacious layout
across three finished levels. The main floor features an inviting
flow between the living room, dining room, and kitchen, creating
plenty of space to gather and entertain. A first-floor bedroom and
half bath add versatility to the level. Upstairs, the expansive
primary bedroom features a walk-in closet and en suite bath, while
three additional bedrooms, a common bath, and dedicated laundry
room complete the floor. The finished basement provides even more
room to spread out with a recreation area and full bath. Outside,
enjoy a deck overlooking the fenced-in backyard, along with an
attached garage and driveway. Conveniently located near Kawameeh
Park, Union Station, Kean University, and major roadways.
Unit Size
-
Days on Market
-
Land Size
0.13 acres
Price per sqft
-
Property Type
House
Property Taxes
$1,186
HOA Dues
-
Year Built
1949
Listed By
Payment Calculator
Home Price
Down Payment
%
Loan Term
Interest %
Your Estimated Monthly Payment
Principal + Interest:
Property Tax:
HOA:
Home Insurance:
Mortgage Insurance:
Cap Rate Calculator
Purchase Price
Monthly Property Taxes
Monthly Rental Income
Maintenance & HOA
Income Per Year
Expenses Per Year
Operating Profit Per Year
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: 25 days ago (GSMLS #4048703)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 14, 2026 | In contract | - | |
| In contract | |||
| Oct 7, 2026 | Price Decreased |
$899,000
↓ $50K
(5.3%) | |
| Price Decreased | |||
| Aug 25, 2026 | Listed by KELLER WILLIAMS REALTY | $949,000 | |
| Listed by KELLER WILLIAMS REALTY | |||
| Mar 31, 2023 | Sold | ||
| Sold | |||
Property Highlights
Garage
Air Conditioning
Parking Details
Has Garage
Parking Features: Attached
Garage Spaces: 1
Interior Details
Half Bathrooms: 1
Full Bathrooms: 3
Appliances: Dishwasher, Refrigerator, Range/Oven-Gas
Flooring Type: Tile, Wood
Rooms: 9
Basement: Finished
Exterior Details
Architectural Style: Colonial
Year Built: 1949
Construction Materials: Vinyl Siding
Patio and Porch Features: Deck
Lot Size Area: 5662.8
Lot Size Units: Square Feet
Lot Size Acres: 0.13
Lot Size Square Feet: 5662.8
Water Source: Public
Financial Details
Tax Assessed Value: $61,000
Tax Annual Amount: $14,227
Utilities Details
Cooling Type: Central Air, 2 Units
Heating Type: Forced Air, 2 Units
Sewer : Public Sewer
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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 Union
Similar Homes for Sale
Currently no similar homes aroundNearby Rentals
Last Updated: 25 days ago
Data Source: GSMLS, MLS#
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.
Data Source: GSMLS, MLS#
Your Privacy Choices
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017