Listed by: Susanna S. Shen, [email protected], Garden Home Realty, (973) 533-0880, Listing Courtesy of NJMLS
$2,262,500
●
House -
Off Market
63 Locust Avenue
Millburn, NJ 07041
6 Beds
6 Baths,
1
Half Bath
$12,916
Est. Monthly
5.88%
Cap Rate
About This Property
Stunningly renovated 6BR/5.5BA contempory house with 4100+ sq ft of
living space set on .19 acre lot. This home boasts spacious open
floor plan with 12ft high celing in family room areas with a gas
place, custom-made contempory interior with modern hardware, custom
closets throughout, all custom made heavy duty thermo-broken
aluminum windows and patio doors throughout, double paneled
tempered glass filled with argon, tilt and turn windows, 9ft and
10ft bi-fold doors connecting dining and family room areas. The
kitchen is complete with high-end Thermador appliances,10ft long
waterfall center island with quartz counters on both sides ,quartz
kitchen counters, and quartz backslash.The 2nd floor is home to a
luxurious master suite, 3 additonal bedrooms, 2 full baths and
laundry room. Both first floor and 2nd floor features 9ft
ceilings.The 3rd floor features a large bedroom, a full bedroom, a
2nd family room. Fully finished basement with a rec room and powder
room. Must see!
Unit Size
-
Days on Market
-
Land Size
-
Price per sqft
-
Property Type
House
Property Taxes
$1,141
HOA Dues
-
Year Built
1934
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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 (NJMLS #24014260)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 9, 2024 | Sold | ||
| Sold | |||
| Sep 19, 2024 | In contract | - | |
| In contract | |||
| Jul 3, 2024 | Price Decreased |
$2,398,000
↓ $100K
(4%) | |
| Price Decreased | |||
| May 9, 2024 | Listed by Garden Home Realty | $2,498,000 | |
| Listed by Garden Home Realty | |||
Property Highlights
Garage
Fireplace
Air Conditioning
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
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Listed On
Listed On
Closing Price
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HOA + Taxes
About Essex
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Listed by: Susanna S. Shen
Garden Home Realty
Last Updated: 2 years ago
Data Source: NJMLS , MLS# 24014260
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.
Garden Home Realty
Last Updated: 2 years ago
Data Source: NJMLS , MLS# 24014260
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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