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Forked River 08731
609 Twin River Drive
$314,000
● House - Off Market

609 Twin River Drive

Forked River, NJ 08731
bedrooms
2 Beds
bathrooms
1 Bath
square feet
936 Ft²
$1,976
Est. Monthly
6.66%
Cap Rate

About This Property

OPPORTUNITY KNOCKING - Calling all first time buyers and investors.  Searching for something to add your creative touch to?  Not afraid of a little sweat equity? This 2 bedroom, 1 bath ranch home needs your expertise and updating.  Nestled across the street from waterfront homes in the desirable Forked River section of Lacey Township.  The home boasts gas fuel, hot water baseboard heat, 1 car garage, spacious backyard, public water, public sewer, and property taxes at just $3,094. (2022)  Seller is looking for a clean, no non-sense contract.  Submit your best offer and make this house a home.
Unit Size
936 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$374
Property Type
House
Property Taxes
$258
HOA Dues
-
Year Built
1959

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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: 2 years ago (MOMLS #22402336)

Price History

Date / Event Date Event Price
May 31, 2024 Sold
Premium
Sold
Jan 26, 2024 Listed by RE/MAX at Barnegat Bay $349,900
Listed by RE/MAX at Barnegat Bay

Property Highlights

Garage

Building Info

Overview

    General

  • Year Built: 1959
  • Effective Year Built: 1959
  • Bedroom Count: 2
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 11
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 1
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,300
  • Lot Size Depth Feet: 1,050
  • Lot Size Frontage Feet: 600
  • Total Building Area: 936
  • Building Area: 936
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 936
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000145
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Lacey Township School District
  • Census Tract: 732104

Zoning

  • Zoning: R75

Geography

  • Assessors Map Reference: TAX MAP 6
  • Account Number: 00008896
  • District: 13
  • Parcel: 13 00134-0000-00005
  • Block: 134
  • Lot: 5
  • Municipality: LACEY TWP
  • Latitude: 39.8251
  • Longitude: -74.1886

    Address

  • Full Address: 609 Twin River Dr
  • Address - House Number: 609
  • Address - Street Name: Twin River
  • Address - Suffix Type: Dr
  • State: NJ
  • City Name: Forked River
  • Carrier Code: R010
  • 4-Digit Zip Code: 4947
  • Zip Code: 08731

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $309,352

    Appraisal Valuation

  • Standard Deviation: 0.0901
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 92
  • Final Value: 352,952
  • High Value: 384,774
  • Low Value: 321,130

    Market Valuation

  • Market Total Value: $136,700
  • Market Land Value: $73,000
  • Market Improvement Value: $63,700

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $136,700
  • Assessed Land Value: $73,000
  • Assessed Improvements Value: $63,700

    Sales

  • Current Sale Contract Date: Oct 24, 2000
  • Current Sale Recording Date: Oct 24, 2000
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
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 Forked River

Stats & Trends

Median Asking:

$499,900

Sale Price/ft²

$334

Below Asking

0.02%

Average Days on Market

71

Average Home Size

1762 ft²

Average Home Age

45.4 years

Currently For Sale

29 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 115 Parker Avenue, Forked River, NJ, 08731

$2,300 /mo

  • 2 Beds
  • 1 Bath
  • 680 ft²
115 Parker Avenue, Forked River, NJ, 08731 Listing by Candace Golembeski

Rentals Near You

Click here to view more rentals in the neighborhood.
MOMMLS

Listed by: Gregory R Broome, RE/MAX at Barnegat Bay
Last Updated: 2 years ago
Data Source: MOMMLS, MLS# 22402336
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. 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 609 Twin River Drive built and last sold?
The property at 609 Twin River Drive was built in 1959 and last sold on Oct 24, 2000 for $75,000.
How much is this home worth?
The estimated value of the home located at 609 Twin River Drive is $358,011.
What are some comparable homes to 609 Twin River Drive?
There are currently no comparable homes to 609 Twin River Drive.
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