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Ocean 08731
742 Tappan Street
$420,000
● House - Off Market

742 Tappan Street

Forked River, NJ 08731
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,228 Ft²
$2,275
Est. Monthly
8.10%
Cap Rate

About This Property

Unique Cape in Barnegat Pines! This 3 bed, 2 bath home blends classic Cape Cod design with modern convenience. From its cozy nooks to sunlit living spaces to the light-filled main living area, this home is full of warmth & character. Also, a rare heated/cooled detached studio offers the perfect flex space-ideal for a home office, art studio, gym, or workshop. Nestled near tranquil lakes, scenic parks, and some of Forked River's best waterfront dining spots. Enjoy the best of coastal living in a quiet, welcoming community. #CoastalCape #BarnegatPines #ForkedRiverLife
Unit Size
1,228 Ft²
Days on Market
63 days
Land Size
1,469.00 acres
Price per sqft
$322
Property Type
House
Property Taxes
$335
HOA Dues
-
Year Built
1950

Payment Calculator

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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 #22520523)

Price History

Date / Event Date Event Price
Sep 12, 2025 Sold
Premium
Sold
Aug 21, 2025 In contract -
In contract
Jul 10, 2025 Listed by RE/MAX at Barnegat Bay $394,900
Listed by RE/MAX at Barnegat Bay

Property Highlights

Air Conditioning

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 4
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 150
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,400
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 640
  • Total Building Area: 1,228
  • Building Area: 1,228
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,228
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000147
  • Standard Land Use Code: 1001
  • County Land Use Code: 2
  • Legal Description 1: ADDITIONAL LOTS: LOT 28

Neighborhood

  • School District Name: Lacey Township School District
  • Census Tract: 732003

Zoning

  • Zoning: R75

Geography

  • Assessors Map Reference: TAX MAP 70
  • Account Number: 00103963
  • District: 13
  • Parcel: 13 01515-0000-00027
  • Block: 1515
  • Lot: 27
  • Municipality: LACEY TWP
  • Latitude: 39.8548
  • Longitude: -74.2075

    Address

  • Full Address: 742 Tappan St
  • Address - House Number: 742
  • Address - Street Name: Tappan
  • Address - Suffix Type: St
  • State: NJ
  • City Name: Forked River
  • Carrier Code: R003
  • 4-Digit Zip Code: 1355
  • Zip Code: 08731

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $359,365

    Appraisal Valuation

  • Standard Deviation: 0.2247
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 68
  • Final Value: 313,333
  • High Value: 383,766
  • Low Value: 242,900

    Market Valuation

  • Market Total Value: $158,800
  • Market Land Value: $60,800
  • Market Improvement Value: $98,000

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $158,800
  • Assessed Land Value: $60,800
  • Assessed Improvements Value: $98,000

    Sales

  • Current Sale Contract Date: Oct 07, 2004
  • Current Sale Recording Date: Oct 18, 2004
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 12
  • Current Sale Input Document Number: 2004202717

    Financing

  • First Mortgage Financing Type: ADJ
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 Ocean

Stats & Trends

Median Asking:

$499,000

Sale Price/ft²

$303

Above Asking

0.00%

Average Days on Market

65

Average Home Size

1597 ft²

Average Home Age

29 years

Currently For Sale

4344 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 101 Maria Loretta Lane, Forked River, NJ, 08731

$3,000 /mo

  • 3 Beds
  • 2 Baths
101 Maria Loretta Lane #101, Forked River, NJ, 08731 Listing by William R Hagan
Unit for rent at 602 Cyprus Court, Forked River, NJ, 08731

$3,100 /mo

  • 3 Beds
  • 3 Baths
  • 1,558 ft²
602 Cyprus Court #602, Forked River, NJ, 08731 Listing by Danielle Coyle

Rentals Near You

Click here to view more rentals in the neighborhood.
MOMMLS

Listed by: Derek Stephensen, RE/MAX at Barnegat Bay
Last Updated: 2 years ago
Data Source: MOMMLS, MLS# 22520523
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 742 Tappan Street built and last sold?
The property at 742 Tappan Street was built in 1950 and last sold on Oct 7, 2004 for $145,000.
How much is this home worth?
The estimated value of the home located at 742 Tappan Street is $0.
What are some comparable homes to 742 Tappan Street?
There are currently no comparable homes to 742 Tappan Street.
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