NOT LISTED FOR SALE

1516 S Commerce St Paulsboro, NJ 08066

Estimated Value: $284,081 - $332,000

-- Bed
-- Bath
2,486 Sq Ft
$125/Sq Ft Est. Value

Last Sold February 19, 2021

Last sale price $192,000 $77 Per Sq Ft

Est. 61% increase in value since last sale

Current estimated payment $2,268/month

10 Days on Market

Highlights

  • 0.28 Acre Lot
  • No HOA
  • Forced Air Heating System
  • Colonial Architecture

About This Home

As of February 2021

Triplex with incredible cash flow! If you are looking for an investment property with a high ROI, look no further. This property has a large 1 st floor unit with 3 bedrooms, eat-in kitchen and a seperate basement space with laundry hook-ups that rents for $1,050. The second floor has a 1 bedroom that rents for $825 and a two bedroom that rents for $1050. All three units have their own gas (heaters and hot water) and electric. The landlord is responsible for the water and sewer, which is roughly $450 a quarter. The entire roof was removed and replaced in 2019. All three tenants are section 8 currently and on one year leases with more than half of the montly rent paid by the state. It is rare for a triplex to come up for sale, and this one will not last. Set up your appointment to see this property today! 24 hour notice required for all showings please.

Last Agent to Sell the Property

ADAM LAYTON

Century 21 Town & Country Realty - Mickleton Listed on: 12/29/2020

Last Buyer's Agent

Pamela Ginelli

Keller Williams Realty - Cherry Hill

Keller Williams Realty - Cherry Hill

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,671

Year Built

  • Built in 1920

Lot Details

  • 0.28 Acre Lot
  • Lot Dimensions are 85.00 x 141.00

Home Design

  • 2,486 Sq Ft Home
  • Triplex
  • Colonial Architecture
  • Frame Construction

Parking

  • Driveway
  • On-Street Parking

Schools

  • Paulsboro High School

Utilities

  • Forced Air Heating System
  • Natural Gas Water Heater

Community Details

  • No Home Owners Association

Listing and Financial Details

  • The owner pays for sewer, water
  • Tax Lot 00001
  • Assessor Parcel Number 14-00129-00001

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,671

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Triplex
  • Architectural Style: Colonial
  • Ownership: Fee Simple
  • Home Warranty: No
  • New Construction: No
  • Year Built: 1920
  • Automatically Close On Close Date: No
  • Remarks Public: Triplex with incredible cash flow! If you are looking for an investment property with a high ROI, look no further. This property has a large 1 st floor unit with 3 bedrooms, eat-in kitchen and a seperate basement space with laundry hook-ups that rents for $1,050. The second floor has a 1 bedroom that rents for $825 and a two bedroom that rents for $1050. All three units have their own gas (heaters and hot water) and electric. The landlord is responsible for the water and sewer, which is roughly $450 a quarter. The entire roof was removed and replaced in 2019. All three tenants are section 8 currently and on one year leases with more than half of the montly rent paid by the state. It is rare for a triplex to come up for sale, and this one will not last. Set up your appointment to see this property today! 24 hour notice required for all showings please.
  • Special Features: None

Interior Features

  • Total Sq Ft: 2486
  • Living Area Sq Ft: 2486
  • Price Per Sq Ft: 80.41
  • Above Grade Finished Sq Ft: 2486
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 1516

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Frame
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Type Of Parking: Driveway, On Street

Utilities

  • Central Air Conditioning: No
  • Heating Fuel: Natural Gas
  • Heating Type: Forced Air
  • Heating: Yes
  • Hot Water: Natural Gas
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • HOA: No

Schools

  • School District: PAULSBORO PUBLIC SCHOOLS
  • High School: PAULSBORO H.S.
  • High School Source: Listing Agent
  • School District Key: 300200397138
  • School District Source: Listing Agent
  • High School: PAULSBORO H.S.

Green Features

  • Clean Green Assessed: No

Lot Info

  • Improvement Assessed Value: 139100.00
  • Land Assessed Value: 19500.00
  • Lot Size Acres: 0.28
  • Lot Dimensions: 85.00 x 141.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 11985.00
  • Year Assessed: 2020
  • Zoning: RES

Rental Info

  • Owner Pays: Sewer, Water
  • Rent Control: No
  • Total Actual Rent: 35100.00
  • Vacation Rental: No

Multi Family

  • Gross Income: 2925.00

Tax Info

  • Assessor Parcel Number: 2023436
  • Tax Annual Amount: 6671.00
  • Assessor Parcel Number: 14-00129-00001
  • Tax Lot: 00001
  • Tax Total Finished Sq Ft: 2486
  • County Tax Payment Frequency: Annually
  • Tax Year: 2020
  • Close Date: 02/19/2021

MLS Schools

  • School District Name: PAULSBORO PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 29, 2020
Closed on
Feb 17, 2021
Sold by
Layton Adam P and Layton Joseph G
Bought by
Tai Pan Enterprises Llc
Seller's Agent
ADAM LAYTON
Century 21 Town & Country Realty - Mickleton
Buyer's Agent
Pamela Ginelli
Keller Williams Realty - Cherry Hill
List Price
$199,900
Sold Price
$192,000
Premium/Discount to List
-$7,900
-3.95%
Current Estimated Value
$309,520

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$117,520
Avg. Annual Appreciation
11.28%

Purchase Details

Listed on
Mar 7, 2018
Closed on
Apr 6, 2018
Sold by
Colosi Anthony R and Mathis Colosi Lynn S
Bought by
Layton Adam P and Layton Joseph G
Seller's Agent
Michael DeFillippis
OMNI Real Estate Professionals
Buyer's Agent
ADAM LAYTON
Century 21 Town & Country Realty - Mickleton
List Price
$157,900
Sold Price
$153,000
Premium/Discount to List
-$4,900
-3.1%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.20%
Original Mortgage
$114,750
Interest Rate
4.44%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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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
Tai Pan Enterprises Llc $192,000 Coretitle Llc
Layton Adam P $153,000 Foundation Title Llc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Layton Adam P $114,750
Previous Owner Colosi Anthony $150,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/19/2021 02/19/21 Sold $192,000 -4.0% $77 / Sq Ft
01/08/2021 01/08/21 Pending -- -- --
12/29/2020 12/29/20 For Sale $199,900 +30.7% $80 / Sq Ft
04/06/2018 04/06/18 Sold $153,000 -3.1% $62 / Sq Ft
03/07/2018 03/07/18 Pending -- -- --
03/07/2018 03/07/18 For Sale $157,900 -- $64 / Sq Ft
Source: Bright MLS

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 $6,978 $158,600 $19,500 $139,100
2024 $6,972 $158,600 $19,500 $139,100
2023 $6,972 $158,600 $19,500 $139,100
2022 $6,845 $158,600 $19,500 $139,100
2021 $6,712 $158,600 $19,500 $139,100
2020 $6,671 $158,600 $19,500 $139,100
2019 $6,461 $158,600 $19,500 $139,100
2018 $6,092 $158,600 $19,500 $139,100
2017 $6,066 $158,600 $19,500 $139,100
2016 $5,779 $158,600 $19,500 $139,100
2015 $5,746 $158,600 $19,500 $139,100
2014 $5,877 $174,500 $22,900 $151,600
Source: Public Records

Agents Affiliated with this Home

  • A

    Seller's Agent in 2021

    ADAM LAYTON

    Century 21 Town & Country Realty - Mickleton

    Section Image

  • P

    Buyer's Agent in 2021

    Pamela Ginelli

    Keller Williams Realty - Cherry Hill

    2 in this area

    14 Total Sales

    Pamela Ginelli
    Section Image
  • Michael DeFillippis

    Seller's Agent in 2018

    Michael DeFillippis

    RE/MAX

    (856) 207-9077

    5 in this area

    142 Total Sales

    Michael DeFillippis
    Section Image
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Map

Source: Bright MLS

MLS Number: NJGL269328

Bright MLS

APN: 14-00129-0000-00001

New Jersey Gloucester County Paulsboro 08066

1516 S Commerce St, Paulsboro, NJ

This home is located at 1516 S Commerce St, Paulsboro, NJ 08066 since 29 December 2020 and is currently estimated at $309,520, approximately $124 per square foot. This property was built in 1920. 1516 S Commerce St is a home located in Gloucester County with nearby schools including Billingsport Elementary School, Loudenslager Elementary School, and Paulsboro High School.

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