NOT LISTED FOR SALE

1509 Summerfield Ave Asbury Park, NJ 07712

Estimated Value: $452,000 - $534,000

4 Beds
2 Baths
1,570 Sq Ft
$303/Sq Ft Est. Value

Last Sold January 19, 2021

Last sale price $291,000 $185 Per Sq Ft

Est. 67% increase in value since last sale

Current estimated payment $3,125/month

109 Days on Market

Highlights

  • Balcony
  • Forced Air Heating System
  • Fenced
  • 2 Car Detached Garage

About This Home

As of January 2021

IDEAL INVESTMENT PROPERTY in Red Hot Asbury Park! Great opportunity to own this classic style stucco home with great bones! High ceilings, crown molding, and built-in cabinet on first floor. Home needs cosmetic work, but all major items have been updated: heating system, duct work, hot water tanks, electric, and windows. This multi-family offers two units for double the income: First floor unit has 1 bed/1 bath and 2nd unit has two floors with 3 beds/1 bath.There's also a full basement with exterior access, 1.5 car garage, fenced yard, and multi-level back porch. House is being sold, ''AS IS.'' Buyer responsible for CO. Both units are Tenant occupied, must give 24 hours notice. Recent price reduction. Owner says SELL..Make all offers known. Don't miss out, call for an appointment today!

Last Agent to Sell the Property

Phyllis Maffucci

Space & Company License #0571551 Listed on: 08/29/2020

Last Buyer's Agent

Sonja O'Brien

Berkshire Hathaway HomeServices Signature Properties

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,354

Year Built

  • Built in 1930

Lot Details

  • 5,227 Sq Ft Lot
  • Lot Dimensions are 50 x 104
  • Fenced

Parking

  • 2 Car Detached Garage
  • Off-Street Parking

Home Design

  • Duplex
  • Synthetic Stucco Exterior

Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House

Schools

  • Bangs Avenue Elementary School
  • Martin Luther King Jr. Middle School
  • Asbury Park High School

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Furnace
  • Natural Gas Water Heater

Additional Features

  • Stove
  • Balcony

Listing and Financial Details

  • Exclusions: Tenants personal property
  • Tenant pays for hot water, heat, gas, electricity
  • The owner pays for water, sewer
  • Assessor Parcel Number 04-01403-0000-00016

Community Details

Overview

  • 2 Units

Building Details

  • Insurance Expense $1,927
  • Water Sewer Expense $2,238
  • Gross Income $32,100

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,354

Year Built

Built in 1930

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Two Family
  • ResoLotFeatures: Fenced Area
  • Subdivision Name: None
  • Reso Interior Features: Balcony
  • New Construction: No
  • Year Built: 1930
  • Contract Info New Construction: No
  • General Property Info Waterview: No
  • General Property Info Fireplace: No
  • General Property Info Basement: Yes
  • General Property Info Pool: No
  • WaterSewer Public Sewer: Yes
  • General Property Info Lot Dimensions: 50 x 104
  • Location Middle School: Martin Luther King Jr. Middle School
  • ExteriorFence: Yes
  • Lot Description Fenced Area: Yes
  • WaterSewer Public Water: Yes
  • Water Heater Natural Gas2: Yes
  • General Property Info Handicap Access: No
  • Interior Balcony: Yes
  • General Property Info # Parking Spaces: 2.0
  • Unit 2 Furnace2: Yes
  • Unit 1 Furnace: Yes
  • Siding Stucco - Synthetic: Yes
  • Income Expenses Insurance Expense: 1927.0
  • Income Expenses WaterSewer Expense: 2238.0
  • Income Expenses Gross Income2: 32100.0
  • Unit 1 Gas Stove: Yes
  • Unit 2 Gas Stove2: Yes
  • Special Features: None

Interior Features

  • Basement: Walk-Out Access, Full
  • Basement: Yes
  • Full Basement: Yes
  • Basement:Walk-Out Access: Yes

Exterior Features

  • Acres: 0.12
  • Waterfront: No
  • Exclusions: Tenants personal property
  • Construction Type: Synthetic Stucco
  • Exterior Features: Fence

Garage/Parking

  • Garage: Yes
  • Attached Garage: No
  • Garage Spaces: 2.0
  • Parking Features: Off Street, Detached
  • Total Parking Spaces: 2.0
  • General Property Info:Garage: Yes
  • ParkingOffStreet: Yes
  • Parking Features:Garage Detached: Yes

Utilities

  • Sewer: Public Sewer
  • Heating: Forced Air
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Natural Gas: Yes
  • Heating:Forced Air: Yes

Fee Information

  • Annual Water Sewer Expense: 2238.0

Schools

  • Middle Or Junior School: Martin Luther King Jr. Middle School

Lot Info

  • Lot Dimensions: 50 x 104
  • Lot Size Sq Ft: 5227.2
  • ResoLotSizeUnits: Acres
  • Parcel #: 04-01403-0000-00016
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: Hot Water, Heat, Gas, Electricity
  • Owner Pays: Water, Sewer

Tax Info

  • Tax Year: 2019
  • Tax Annual Amount: 3354.0
  • Tax Other Annual Assessment Amount: 239600.0

Multi Family

  • Number Of Units Total: 2
  • Annual Gross Income: 32100.0
  • Insurance Expense: 1927.0

MLS Schools

  • Elementary School: Bangs Avenue
  • High School: Asbury Park

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 29, 2020
Closed on
Jan 19, 2021
Sold by
Rolnick Michael
Bought by
3 Sunset Dr Llc
Seller's Agent
Phyllis Maffucci
Space & Company
Buyer's Agent
Sonja O'Brien
Berkshire Hathaway HomeServices Signature Properties
List Price
$346,444
Sold Price
$291,000
Premium/Discount to List
-$55,444
-16%
Current Estimated Value
$484,527

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$193,527
Avg. Annual Appreciation
11.63%
Original Mortgage
$277,350
Interest Rate
2.6%
Mortgage Type
Construction

Purchase Details

Closed on
Dec 20, 2005
Sold by
Figueroa Bernard
Bought by
Rolnick Michael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$248,000
Interest Rate
6.28%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 23, 2004
Sold by
Taylor James
Bought by
Figueroa Bernard

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
5.5%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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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
3 Sunset Dr Llc $291,000 Trident Abstract Ttl Agcy Ll
Rolnick Michael $310,000 --
Figueroa Bernard $200,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 3 Sunset Dr Llc $1,142,500
Closed 3 Sunset Dr Llc $277,350
Previous Owner Rolnick Michael $219,900
Previous Owner Rolnick Michael $248,000
Previous Owner Figueroa Bernard $160,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/19/2021 01/19/21 Sold $291,000 -6.9% $185 / Sq Ft
12/16/2020 12/16/20 Pending -- -- --
10/17/2020 10/17/20 Price Changed $312,500 -4.1% $199 / Sq Ft
09/04/2020 09/04/20 Price Changed $326,000 -5.9% $208 / Sq Ft
08/29/2020 08/29/20 For Sale $346,444 -- $221 / Sq Ft
Source: MOREMLS (Monmouth Ocean Regional 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
2024 $5,658 $392,800 $122,400 $270,400
2023 $5,658 $366,000 $84,800 $281,200
2022 $4,392 $313,300 $56,500 $256,800
2021 $4,392 $278,100 $54,900 $223,200
2020 $3,774 $239,600 $52,800 $186,800
2019 $3,354 $203,300 $50,300 $153,000
2018 $3,126 $175,400 $47,500 $127,900
2017 $3,548 $170,600 $45,300 $125,300
2016 $3,433 $160,100 $43,300 $116,800
2015 $3,405 $153,800 $40,000 $113,800
2014 $3,125 $144,200 $35,000 $109,200
Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2021

    Phyllis Maffucci

    Space & Company

    (732) 531-2500

    2 in this area

    4 Total Sales

    Section Image

  • S

    Buyer's Agent in 2021

    Sonja O'Brien

    Berkshire Hathaway HomeServices Signature Properties

See All Agents

Map

Source: MOREMLS (Monmouth Ocean Regional REALTORS®)

MLS Number: 22028605

MOREMLS (Monmouth Ocean Regional REALTORS®)

APN: 04-01403-0000-00016

New Jersey Monmouth County Asbury Park 07712

1509 Summerfield Ave, Asbury Park, NJ

This home is located at 1509 Summerfield Ave, Asbury Park, NJ 07712 since 29 August 2020 and is currently estimated at $476,355, approximately $303 per square foot. This property was built in 1930. 1509 Summerfield Ave is a home located in Monmouth County with nearby schools including Asbury Park High School, Hope Academy Charter School, and Our Lady of Mount Carmel School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MOREMLS (Monmouth Ocean Regional REALTORS®) 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.

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