NOT LISTED FOR SALE

Estimated Value: $350,000 - $503,000

4 Beds
2 Baths
1,333 Sq Ft
$326/Sq Ft Est. Value

Last Sold September 08, 2017

Last sale price $140,000 $105 Per Sq Ft

Est. 211% increase in value since last sale

Current estimated payment $2,645/month

237 Days on Market

Highlights

  • Island Location
  • Breakfast Area or Nook
  • Porch
  • Furnished
  • Fenced Yard
  • Patio

About This Home

As of September 2017

Property is unavailable to show due to summer tenants. But for the best part, the year round rental income for the cottage is $9,000 per year and the rental income on the main house is $16,000 per year, making the total rental income an astounding $25,000 per year. The current owner would be willing to explain how to go about renting it to maximize your earnings. Or for a buyer who plans to reside here, it is the perfect situation. The new owner can live in the main house and rent the cottage for extra income, or use the cottage as a guest suite or studio for business purposes.

Last Agent to Sell the Property

Diane Buscham

RE/MAX SURFSIDE License #0560047 Listed on: 10/03/2016

RE/MAX SURFSIDE

Co-Listed By

Paul DiFilippo

RE/MAX SURFSIDE License #8830342

Last Buyer's Agent

Donna Leyland

COASTAL ELITE REALTY

COASTAL ELITE REALTY

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,047

Year Built

  • Built in 1920

Lot Details

  • 2,178

Home Design

  • Duplex

Interior Spaces

  • Furnished
  • Ceiling Fan
  • Drapes & Rods
  • Blinds
  • Living Room
  • Dining Area
  • Crawl Space
  • Breakfast Area or Nook
  • Laundry Room

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Outdoor Features

  • Patio
  • Porch

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Baseboard Heating
  • Heating System Uses Natural Gas
  • Gas Water Heater
  • Cable TV Available

Additional Features

  • Fenced Yard
  • Island Location

Community Details

  • 2 Units

Listing and Financial Details

  • Legal Lot and Block 21 / 216

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,047

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Class: MULTI-FAMILY
  • Type: Duplex
  • Location: Island
  • District Township: 14-Wildwood City
  • Near: shopping, dining
  • Also Includes: Curtains, Blinds, Furniture
  • Estimated Year Built: 1920
  • Beach Proximity: 3 Blocks
  • New Construction: No
  • Second Address Number: 105
  • Listing Office2: 487
  • Lot Size2: 2,070 sq.f
  • Selling Agent1: 1021
  • Selling Office1: 487
  • OFFICELIST_STATE: NJ
  • Street Designation: Avenue
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1920

Interior Features

  • Total Bathrooms: 2
  • Basement: Crawl Space
  • Other Rooms: Living Room, Kitchen, Breakfast Nook, Dining Area, Pantry, Laundry/Utility Room

Exterior Features

  • Outside Features: Patio, Porch, Fenced Yard, Cable TV, Sidewalks

Utilities

  • Cooling: Ceiling Fan, Wall Air Conditioning
  • Heating: Gas Natural, Baseboard
  • Hot Water: Gas
  • Sewer: City
  • Water: City
  • Cable Available: Income Expense Info, Lease Information

Lot Info

  • Lot Number: 21
  • Lot Size: 1 to 6000 SqFt
  • Zoning: R-1

Tax Info

  • Taxes: 3046.76
  • Tax Year: 2016

Multi Family

  • Number Of Units: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 3, 2016
Closed on
Sep 8, 2017
Sold by
Mastroberti Frank M and Mastroberti Maura E
Bought by
Collins Bryan M
Seller's Agent
Diane Buscham
RE/MAX SURFSIDE
Buyer's Agent
Donna Leyland
COASTAL ELITE REALTY
List Price
$159,000
Sold Price
$140,000
Premium/Discount to List
-$19,000
-11.95%
Current Estimated Value
$434,907

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$294,907
Avg. Annual Appreciation
15.39%

Purchase Details

Closed on
Jun 18, 2001
Sold by
Degrandis Gene De
Bought by
Mastroberti Frank M and Mastroberti Manra E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$66,500
Interest Rate
7.09%

Purchase Details

Closed on
Oct 29, 1990
Sold by
Gawlowski Carol
Bought by
Degrandis Gene and Degrandis Mary A

Purchase Details

Closed on
Sep 2, 1988
Sold by
Joines Rita
Bought by
Gawlowski Carol
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Collins Bryan M $140,000 Surety Title Company
Mastroberti Frank M $64,900 --
Degrandis Gene $62,500 --
Gawlowski Carol $59,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Mastroberti Frank M $66,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/08/2017 09/08/17 Sold $140,000 -11.9% $105 / Sq Ft
08/09/2017 08/09/17 Pending -- -- --
10/03/2016 10/03/16 For Sale $159,000 -- $119 / Sq Ft
Source: Cape May County Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $3,934 $131,100 $64,700 $66,400
2024 $3,934 $131,100 $64,700 $66,400
2023 $3,840 $131,100 $64,700 $66,400
2022 $3,713 $131,100 $64,700 $66,400
2021 $2,688 $131,100 $64,700 $66,400
2020 $3,527 $131,100 $64,700 $66,400
2019 $3,401 $131,100 $64,700 $66,400
2018 $3,276 $131,100 $64,700 $66,400
2017 $3,139 $131,100 $64,700 $66,400
2016 $3,047 $131,100 $64,700 $66,400
2015 $2,998 $131,100 $64,700 $66,400
2014 $2,963 $131,100 $64,700 $66,400
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Cape May County Association of REALTORS®

MLS Number: 172719

Cape May County Association of REALTORS®

APN: 14-00216-0000-00021-02