Listed by: Amanda Abdelsayed, [email protected], Keller Williams Realty Metropolitan, (973) 539-1120, Listing Courtesy of NJMLS
$2,350,000
●
House -
Off Market
58 Locust Avenue
Millburn, NJ 07041
6 Beds
5 Baths
$12,741
Est. Monthly
4.29%
Cap Rate
About This Property
Be the FIRST to live in Millburn's newest built modern luxury
estate! You are first greeted by herringbone hardwood floors &
two-story foyer that leads you towards the heart of the home. A
masterpiece chef's kitchen awaits featuring soft-close modern
cabinets, top-of-the-line appliances & a 14ft center island w
breakfast bar. Luxury is woven into every detail from the exquisite
chandeliers & finishes to the designer wallpaper. Rounded arches
grace the interiors & the open-flow layout & warmth of the living
room fireplace invites comfort. A large deck off the family room is
perfect for indoor/outdoor living overlooking your .23 acre
oversized lot with huge backyard. The master suite is a sanctuary w
vaulted ceilings, private balcony & ensuite spa bath w wetroom.
Spacious guest bedrooms provide comfort w 2 ensuite bedrooms for
added privacy. The walkout basement features a private ensuite,
living area & 2 car garage w mudroom. This is more than a house;
it's a masterpiece of living!
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
$1,201
HOA Dues
-
Year Built
1929
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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: 3 years ago (NJMLS #24009609)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 1, 2024 | Sold | ||
| Sold | |||
| Jun 12, 2024 | In contract | - | |
| In contract | |||
| May 29, 2024 | Price Decreased |
$2,399,888
↓ $89K
(3.6%) | |
| Price Decreased | |||
| May 3, 2024 | Price Decreased |
$2,488,777
↓ $111K
(4.3%) | |
| Price Decreased | |||
| Apr 2, 2024 | Listed by Keller Williams Realty Metropolitan | $2,600,000 | |
| Listed by Keller Williams Realty Metropolitan | |||
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Property Highlights
Garage
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
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About Essex
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Listed by: Amanda Abdelsayed
Keller Williams Realty Metropolitan
Last Updated: 3 years ago
Data Source: NJMLS , MLS# 24009609
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.
Keller Williams Realty Metropolitan
Last Updated: 3 years ago
Data Source: NJMLS , MLS# 24009609
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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