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Ocean 08731
805 Spar Drive
$618,000
● House - Off Market

805 Spar Drive

Forked River, NJ 08731
bedrooms
4 Beds
bathrooms
4 Baths, 1 Half Bath
$847,867
RealtyHop Estimate
36.97%
Since Sep 1, 2020
National-US
Primary Model

About This Property

WATERFRONT RETREAT!!! Whether you have been dreaming of relocating to a home where you can sail into the sunset or looking for a 2nd home to relax & get away, you won't want to miss this opportunity. This property features 83.5 ft of bulkhead, 2 level dock with water/electric, fishing station, 10k lb boat lift only 1 mo old, hot tub, wood burning fire pit & outdoor shower/changing area. Beautiful cedar siding & a large, attached 2 car garage. The interior boasts almost 2600 sq ft with a first floor bedroom & 3 additional bedrooms upstairs, 3.5 baths, open concept floor plan, almost all newer Anderson replacement windows. Perfect location- close proximity to shopping, the beach, parks & the Garden State Parkway. 3rd lagoon from the bay, only a 15 min boat ride to Barnegat Light & the ocean.
Unit Size
-
Days on Market
-
Land Size
0.17 acres
Price per sqft
-
Property Type
House
Property Taxes
$963
HOA Dues
$3
Year Built
1988

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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 #22021276)

Price History

Date / Event Date Event Price
Aug 21, 2020 Sold
Premium
Sold
Jul 3, 2020 Listed by Ward Wight Sotheby's International Realty $619,000
Listed by Ward Wight Sotheby's International Realty

Property Highlights

Garage
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1988
  • Effective Year Built: 1988
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • 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: 1
  • Parking Space Count: 2
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 7,470
  • Lot Size Depth Feet: 900
  • Lot Size Frontage Feet: 830
  • Total Building Area: 2,583
  • Building Area: 2,583
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 2,583
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000171
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Lacey Township School District
  • Census Tract: 732103

Zoning

  • Zoning: R75A

Geography

  • Assessors Map Reference: TAX MAP 28
  • Account Number: 00171850
  • District: 13
  • Parcel: 13 00373-0000-00005
  • Block: 373
  • Lot: 5
  • Municipality: LACEY TWP
  • Latitude: 39.8386
  • Longitude: -74.1521

    Address

  • Full Address: 805 Spar Dr
  • Address - House Number: 805
  • Address - Street Name: Spar
  • Address - Suffix Type: Dr
  • State: NJ
  • City Name: Forked River
  • Carrier Code: R002
  • 4-Digit Zip Code: 3028
  • Zip Code: 08731

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $1,235,824

    Appraisal Valuation

  • Standard Deviation: 0.192
  • Valuation Date: Apr 03, 2024
  • Confidence Score: 74
  • Final Value: 920,072
  • High Value: 1,096,783
  • Low Value: 743,360

    Market Valuation

  • Market Total Value: $546,100
  • Market Land Value: $283,400
  • Market Improvement Value: $262,700

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $546,100
  • Assessed Land Value: $283,400
  • Assessed Improvements Value: $262,700

    Sales

  • Current Sale Contract Date: Aug 19, 2020
  • Current Sale Recording Date: Sep 18, 2020
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 12
  • Current Sale Input Document Number: 2020104399
  • Previous Sale Recording Date: Aug 18, 2003
  • Previous Sale Contract Date: Jul 31, 2003
  • Previous Sale Amount: $435,000
  • 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:

$499,900

Sale Price/ft²

$306

Above Asking

0.23%

Average Days on Market

74

Average Home Size

1595 ft²

Average Home Age

35.1 years

Currently For Sale

2998 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

Currently no nearby rentals
MOMMLS

Listed by: Maureen Gilroy, Ward Wight Sotheby's International Realty
Last Updated: 3 years ago
Data Source: MOMMLS, MLS# 22021276
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 805 Spar Drive built and last sold?
The property at 805 Spar Drive was built in 1988 and last sold on Aug 19, 2020 for $618,000.
How much is this home worth?
The estimated value of the home located at 805 Spar Drive is $625,190.
What are some comparable homes to 805 Spar Drive?
There are currently no comparable homes to 805 Spar Drive.
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