101 W Magnolia Ave Wildwood, NJ 08260
The Wildwoods Neighborhood
5
Beds
4
Baths
2,872
Sq Ft
3,920
Sq Ft Lot
Highlights
- Multiple cooling system units
- Forced Air Heating and Cooling System
- 2 Car Garage
- Tankless Water Heater
About This Home
As of November 2024UNDER CONTRACT - OPEN HOUSE CANCELLEDIncome Potential with Room to Grow!Welcome to this charming multifamily property that's not just a home—it's an income-producing machine with serious upside! With three units and a current gross income of around $65,000 per year, this property is perfect for both seasoned investors and those looking to dive into the rental market.Two units are already rented out to long-term tenants, and there's still tremendous potential for more income. Imagine converting the downstairs unit into two separate spaces or transitioning the two-car garage into something that boosts your bottom line—think rental space or storage! Opportunities like this don't come around often! Recent updates include a brand new water main connection, new water pipes, two new furnace units, a new AC in the downstairs unit, and a tankless water heater. Plus, the downstairs unit has had a facelift with new cabinets, vinyl flooring, fresh paint, and trim. Did we mention that two of the three units come fully furnished? This property is practically turn-key, making it easy for you to start generating income from day one.With off-street parking, a garage, and the chance to increase revenue streams, this is a rare find. Take advantage of historically low rents and align them with the market to maximize your investment. Whether you're looking for a smart investment or a great way to live and earn, this property offers the perfect combination of comfort and financial potential.Don't miss outthe upside is calling!
Last Agent to Sell the Property
Real Broker, LLC License #1862632 Listed on: 09/24/2024
Co-Listed By
NON MEMBER MORR
NON MEMBER
Last Buyer's Agent
NON MEMBER MORR
NON MEMBER
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,123
Year Built
- Built in 1907
Lot Details
- 3,920 Sq Ft Lot
- Lot Dimensions are 45 x 90
Parking
- 2 Car Garage
Home Design
- Triplex
Interior Spaces
- 2,872 Sq Ft Home
- 2-Story Property
- Crawl Space
Bedrooms and Bathrooms
- 5 Bedrooms
- 4 Full Bathrooms
Utilities
- Multiple cooling system units
- Forced Air Heating and Cooling System
- Heating System Uses Natural Gas
- Tankless Water Heater
- Shared Water Heater
Community Details
- 3 Units
Listing and Financial Details
- Exclusions: Personal items, small electronics, owners closet contents.
- Assessor Parcel Number 14-00234-0000-00031
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Sep 24, 2024
Closed on
Nov 15, 2024
Sold by
Bruno Benedict James
Bought by
Wynnefield Prep Academy Llc
Seller's Agent
Christopher Gable
Real Broker, LLC
Buyer's Agent
NON MEMBER MORR
NON MEMBER
List Price
$649,000
Sold Price
$664,000
Premium/Discount to List
$15,000
2.31%
Views
27
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$32,244
Avg. Annual Appreciation
6.27%
Original Mortgage
$616,000
Interest Rate
6.12%
Mortgage Type
Construction
Purchase Details
Closed on
Aug 5, 2021
Sold by
Tower Thomas T Est
Bought by
Tower Debra V
Purchase Details
Listed on
Oct 4, 2020
Closed on
Apr 1, 2021
Sold by
Campbell Lisa and Campbell Donald J
Bought by
Bruno Benedict J
Seller's Agent
Toni Charlesworth
LONG & FOSTER REAL ESTATE, INC nwnj
Buyer's Agent
Alexandria Teufel
REAL
List Price
$394,500
Sold Price
$358,000
Premium/Discount to List
-$36,500
-9.25%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
16.28%
Original Mortgage
$351,515
Interest Rate
3%
Mortgage Type
FHA
Purchase Details
Closed on
Apr 22, 2002
Sold by
Saunders Theodore
Bought by
Campbell Lisa
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$80,000
Interest Rate
7.05%
Purchase Details
Closed on
May 30, 1990
Sold by
Morton Mary L
Bought by
Saunders Theodore and Saunders Michele
Similar Homes in Wildwood, NJ
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Bargain Sale Deed | $664,000 | Shore Title | |
| Bargain Sale Deed | $664,000 | Shore Title | |
| Deed | -- | None Available | |
| Deed | $358,000 | None Available | |
| Deed | $109,900 | -- | |
| Deed | $91,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $882,500 | New Conventional | |
| Closed | $616,000 | Construction | |
| Previous Owner | $351,515 | FHA | |
| Previous Owner | $11,300 | Unknown | |
| Previous Owner | $19,065 | Unknown | |
| Previous Owner | $259,000 | Negative Amortization | |
| Previous Owner | $230,000 | Stand Alone First | |
| Previous Owner | $199,000 | Stand Alone First | |
| Previous Owner | $60,000 | Unknown | |
| Previous Owner | $80,000 | No Value Available |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/15/2024 11/15/24 | Sold | $664,000 | +2.3% | $231 / Sq Ft |
| 09/27/2024 09/27/24 | Pending | -- | -- | -- |
| 09/24/2024 09/24/24 | For Sale | $649,000 | +81.3% | $226 / Sq Ft |
| 04/01/2021 04/01/21 | Sold | $358,000 | -9.3% | $155 / Sq Ft |
| 01/25/2021 01/25/21 | Pending | -- | -- | -- |
| 10/04/2020 10/04/20 | For Sale | $394,500 | -- | $171 / Sq Ft |
Source: MOREMLS (Monmouth Ocean Regional REALTORS®)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $7,298 | $243,200 | $98,400 | $144,800 |
| 2024 | $7,298 | $243,200 | $98,400 | $144,800 |
| 2023 | $7,123 | $243,200 | $98,400 | $144,800 |
| 2022 | $6,887 | $243,200 | $98,400 | $144,800 |
| 2021 | $6,700 | $243,200 | $98,400 | $144,800 |
| 2020 | $6,542 | $243,200 | $98,400 | $144,800 |
| 2019 | $6,309 | $243,200 | $98,400 | $144,800 |
| 2018 | $6,078 | $243,200 | $98,400 | $144,800 |
| 2017 | $5,822 | $243,200 | $98,400 | $144,800 |
| 2016 | $5,652 | $243,200 | $98,400 | $144,800 |
| 2015 | $5,562 | $243,200 | $98,400 | $144,800 |
| 2014 | $5,496 | $243,200 | $98,400 | $144,800 |
Source: Public Records
Agents Affiliated with this Home
-
Christopher Gable
Seller's Agent in 2024
Christopher Gable
Real Broker, LLC
(732) 228-4490
3 in this area
33 Total Sales
-
N
Seller Co-Listing Agent in 2024
NON MEMBER MORR
NON MEMBER
-
T
Seller's Agent in 2021
Toni Charlesworth
LONG & FOSTER REAL ESTATE, INC nwnj
-
Alexandria Teufel
A
Buyer's Agent in 2021
Alexandria Teufel
REAL
(609) 675-8548
3 in this area
9 Total Sales
Map
Source: MOREMLS (Monmouth Ocean Regional REALTORS®)
MLS Number: 22427797
APN: 14-00234-0000-00031
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