NOT LISTED FOR SALE

Estimated Value: $501,045 - $589,000

5 Beds
2 Baths
2,194 Sq Ft
$254/Sq Ft Est. Value

Last Sold December 23, 2022

Last sale price $470,000 $214 Per Sq Ft

Est. 14% increase in value since last sale

Current estimated payment $3,415/month

12 Days on Market

About This Home

As of December 2022

What a rare opportunity to find & own a meticulously maintained multi family home with private entrances for both units on a professionally landscaped 27,443 sq.foot lot in Somerset. Perfect for an investment property as rental rates are at an all time high in this location, or it's just as profitable for an owner occupied opportunity. there's a 2 car garage, cement driveway. Just imagine occupying one level and renting the other level to help out with the monthly mortgage payments. The first & second floor layout consists of 3-2 bedrooms, living rooms, updated remodeled kitchen in the first floor apartment, full bath in each unit, separate utilities oil heat radiators with covers on first floor, gas baseboard heat second floor, with a remodeled bath on second unit, some updated plumbing & electrical has been recently completed throughout. This listing will not last long especially with the low inventory of multi family homes for sale in Somerset so be sure to schedule an appointment.

Last Agent to Sell the Property

Antonio Alberto

Alberto Real Estate Listed on: 11/17/2022

Last Buyer's Agent

Legacy Group

Residential Properties Ltd

Residential Properties Ltd

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,662

Year Built

  • Built in 1923

Lot Details

  • 0.63 Acre Lot
  • Irregular Lot

Parking

  • 2 Car Garage
  • Driveway
  • Open Parking
  • Off-Street Parking

Home Design

  • Frame Construction
  • Shingle Roof

Interior Spaces

  • 2,194 Sq Ft Home
  • Property has 1 Level

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 2 Full Bathrooms

Unfinished Basement

  • Basement Fills Entire Space Under The House
  • Interior Basement Entry
  • Sump Pump
  • Block Basement Construction
  • Crawl Space

Utilities

  • Separate Meters
  • 100 Amp Service
  • Gas Water Heater

Community Details

  • 2 Units

Listing and Financial Details

  • Assessor Parcel Number M:0B6 L:0250,4020903

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,662

Year Built

Built in 1923

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • Year Built: 1923
  • Buyer Agency: 2
  • Transaction Broker: 2
  • Year Built Details: Actual
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • ResoPropertyType: ResidentialIncome
  • ResoBuildingAreaSource: PublicRecords
  • Special Features: None
  • Stories: 2

Interior Features

  • Fireplace YN: No
  • Appliances: Gas Water Heater
  • Total Bedrooms: 5
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Total Bathrooms: 2
  • Basement: Full, Crawl Space, Interior Entry, Sump Pump, Concrete, Unfinished
  • Living Area: 2194
  • Stories Total: 2
  • MAIN LO: FR0030
  • LIST PRICE PER Sq Ft: 226.98
  • PRICE PER Sq Ft: 214.22
  • MAIN SO: BB1985

Exterior Features

  • Construction Materials: Frame
  • Foundation Details: Irregular
  • Road Frontage Type: Public
  • Roof: Shingle
  • Waterfront Features: Beach Front, River, 1 to 2 Mile To Beach, Beach Ownership(Public)
  • Waterfront YN: No

Garage/Parking

  • Garage Spaces: 2
  • Covered Parking Spaces: 2
  • Garage YN: Yes
  • Open Parking YN: Yes
  • Parking Features: Paved Drive, Off Street, Paved
  • Total Parking Spaces: 4

Utilities

  • Sewer: Public Sewer
  • Electric: Circuit Breakers, 100 Amp Service, Individually Metered
  • Water Source: Public

Lot Info

  • Parcel Number: M:0B6 L:0250,4020903
  • Zoning: R2
  • Farm Land Area Units: Square Feet
  • Lot Size Acres: 0.63
  • Lot Size Area: 0.63
  • Lot Size Sq Ft: 27443
  • Lot Size Units: Acres
  • PAGE: 244
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 4662
  • Tax Book Number: 9592

Multi Family

  • Number Of Units Total: 2
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEVELS 2: 1
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 1: 1
  • FLRS 2: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 1, 2018
Closed on
Sep 5, 2018
Sold by
Correia Antone F and Correia Sandra M
Bought by
Pavao Kayla and Pavao Judith
Seller's Agent
Antonio Alberto
Alberto Real Estate
Buyer's Agent
Antonio Alberto
Alberto Real Estate
List Price
$339,900
Sold Price
$315,000
Premium/Discount to List
-$24,900
-7.33%
Current Estimated Value
$533,849

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$218,849
Avg. Annual Appreciation
7.81%
Original Mortgage
$309,294
Outstanding Balance
$271,501
Interest Rate
4.62%
Mortgage Type
FHA
Estimated Equity
$259,464

Purchase Details

Closed on
May 20, 1988
Sold by
Correia Antone
Bought by
Correia Antaone

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$20,000
Interest Rate
10.13%
Mortgage Type
Purchase Money Mortgage
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
Pavao Kayla $315,000 --
Correia Antaone $50,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Pavao Kayla $309,294
Closed Pavao Kayla $309,294
Previous Owner Correia Antaone $20,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/23/2022 12/23/22 Sold $470,000 -5.6% $214 / Sq Ft
11/30/2022 11/30/22 Pending -- -- --
11/17/2022 11/17/22 For Sale $498,000 +58.1% $227 / Sq Ft
09/04/2018 09/04/18 Sold $315,000 -7.3% $144 / Sq Ft
07/11/2018 07/11/18 Pending -- -- --
06/01/2018 06/01/18 For Sale $339,900 -- $155 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

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 $5,905 $444,000 $182,200 $261,800
2024 $5,363 $419,300 $182,200 $237,100
2023 $4,848 $382,300 $152,100 $230,200
2022 $4,662 $350,800 $132,500 $218,300
2021 $4,717 $321,300 $120,700 $200,600
2020 $4,680 $307,500 $120,700 $186,800
2019 $5,601 $306,900 $120,700 $186,200
2018 $4,737 $279,300 $119,700 $159,600
2017 $4,554 $261,700 $113,600 $148,100
2016 $4,582 $261,700 $113,600 $148,100
2015 $4,601 $265,200 $120,100 $145,100
2014 $6,260 $259,200 $116,600 $142,600
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 73059200

MLS Property Information Network (MLS PIN)

APN: SOME-000006B-000000-000250