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Ocean 08731
745 Tappan Street
$350,000
● House - Off Market

745 Tappan Street

Forked River, NJ 08731
bedrooms
2 Beds
bathrooms
2 Baths
square feet
993 Ft²
$1,859
Est. Monthly
7.15%
Cap Rate

About This Property

Open Concept Layout: The open design of this home seamlessly blends living, dining, and kitchen areas, creating an inviting space for both relaxation and entertaining. Newly Renovated: This home has undergone recent renovations, ensuring that you'll enjoy modern comforts and aesthetics. Gourmet Kitchen: The recently remodeled kitchen features beautiful cabinetry, modern fixtures, and brand-new stainless steel appliances, making meal preparation a delight. Additional Space: In addition to the main residence, this property boasts a large detached garage, a Yankee basement, and a convenient storage shed, providing ample space for your hobbies, storage, or workspace needs . Cozy up by the fireplace during chilly evenings, creating the perfect atmosphere for relaxation.
Unit Size
993 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$327
Property Type
House
Property Taxes
$263
HOA Dues
-
Year Built
1950

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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: 3 years ago (MOMLS #22331516)

Price History

Date / Event Date Event Price
Dec 20, 2023 Sold
Premium
Sold
Nov 13, 2023 Listed by Glen Kelly Real Estate LLC $325,000
Listed by Glen Kelly Real Estate LLC

Property Highlights

Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1950
  • Effective Year Built: 1950
  • 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: 660
  • Garage Type: 4
  • Parking Space Count: 1
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 6,000
  • Lot Size Depth Feet: 1,000
  • Lot Size Frontage Feet: 600
  • Total Building Area: 993
  • Building Area: 993
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 993
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000138
  • Standard Land Use Code: 1001
  • County Land Use Code: 2
  • Legal Description 1: ADDITIONAL LOTS: 13,14

Neighborhood

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

Zoning

  • Zoning: R-75

Geography

  • Assessors Map Reference: TAX MAP 70
  • Account Number: 00103743
  • District: 13
  • Parcel: 13 01514-0000-00012
  • Block: 1514
  • Lot: 12
  • Municipality: LACEY TWP
  • Latitude: 39.8545
  • Longitude: -74.2077

    Address

  • Full Address: 745 Tappan St
  • Address - House Number: 745
  • Address - Street Name: Tappan
  • Address - Suffix Type: St
  • State: NJ
  • City Name: Forked River
  • Carrier Code: R003
  • 4-Digit Zip Code: 1354
  • Zip Code: 08731

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $315,689

    Appraisal Valuation

  • Standard Deviation: 0.221
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 69
  • Final Value: 311,499
  • High Value: 380,356
  • Low Value: 242,642

    Market Valuation

  • Market Total Value: $139,500
  • Market Land Value: $62,700
  • Market Improvement Value: $76,800

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $139,500
  • Assessed Land Value: $62,700
  • Assessed Improvements Value: $76,800

    Sales

  • Current Sale Contract Date: Dec 19, 2023
  • Current Sale Recording Date: Jan 16, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 3841
  • Previous Sale Recording Date: Jul 11, 2023
  • Previous Sale Contract Date: Jun 02, 2022
  • Previous Sale Amount: $170,000
  • Previous 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 Ocean

Stats & Trends

Median Asking:

$499,000

Sale Price/ft²

$303

Above Asking

0.00%

Average Days on Market

65

Average Home Size

1599 ft²

Average Home Age

29.2 years

Currently For Sale

4380 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: Glen Kelly, Glen Kelly Real Estate LLC
Last Updated: 3 years ago
Data Source: MOMMLS, MLS# 22331516
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 745 Tappan Street built and last sold?
The property at 745 Tappan Street was built in 1950 and last sold on Dec 19, 2023 for $350,000.
How much is this home worth?
The estimated value of the home located at 745 Tappan Street is $325,747.
What are some comparable homes to 745 Tappan Street?
There are currently no comparable homes to 745 Tappan Street.
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