NOT LISTED FOR SALE

162 7th St Salem, NJ 08079

Estimated Value: $143,000 - $163,000

-- Bed
-- Bath
2,061 Sq Ft
$73/Sq Ft Est. Value

Last Sold August 16, 2024

Last sale price $115,000 $56 Per Sq Ft

Est. 32% increase in value since last sale

Current estimated payment $1,056/month

53 Days on Market

About This Home

As of August 2024

Welcome to a great investment opportunity in Salem, NJ! This duplex epitomizes the perfect fusion of potential and immediate returns. The lower level features a stable 2-bedroom, 1-bathroom apartment already occupied by reliable tenants, while the upper level unveils a spacious 3-bedroom, 1-bathroom unit awaiting your vision. With over 2000 sq ft of versatile space, this property is primed to cater to a multitude of investment strategies. This is an as-is sale as the property needs some rehabbing.

Last Agent to Sell the Property

Anna Livits

(917) 962-6405 anna.livits0726@gmail.com Signature Realty NJ Listed on: 05/02/2024

Signature Realty NJ

Last Buyer's Agent

Drew Conlin

(856) 473-8534 drewconlin@hotmail.com Society License #2322299

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,979

Year Built

  • Built in 1906

Lot Details

  • 4,373 Sq Ft Lot
  • Lot Dimensions are 25.00 x 175.00

Parking

  • On-Street Parking

Home Design

  • Duplex
  • Vinyl Siding

Interior Spaces

  • 2,061 Sq Ft Home
  • Crawl Space

Accessible Home Design

  • More Than Two Accessible Exits

Utilities

  • Heating System Uses Natural Gas
  • Electric Baseboard Heater
  • Natural Gas Water Heater

Community Details

  • 3-Story Building
  • 1 Vacant Unit

Listing and Financial Details

  • Tax Lot 00035
  • Assessor Parcel Number 13-00028-00035

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,979

Year Built

Built in 1906

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Duplex
  • Structure Type: Twin/Semi-Detached
  • Accessibility Features: 2+ Access Exits
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1906
  • Automatically Close On Close Date: No
  • Building Winterized: No
  • Special Features: None

Interior Features

  • Fireplace: No
  • Foundation Details: Crawl Space
  • Total Sq Ft: 2061
  • Living Area Sq Ft: 2061
  • Price Per Sq Ft: 65.50
  • Above Grade Finished Sq Ft: 2061
  • Above Grade Finished Area Units: Square Feet

Exterior Features

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

Garage/Parking

  • Garage: No
  • Type Of Parking: On Street

Utilities

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

Schools

  • School District Source: Listing Agent

Lot Info

  • Lot Size Acres: 0.10
  • Lot Dimensions: 25.00 x 175.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 4373.00
  • Zoning: R-2

Rental Info

  • Ground Rent Exists: No
  • Units Leased Count: 1
  • Vacation Rental: No

Multi Family

  • Number Of Units Vacant: 1

Tax Info

  • Tax Annual Amount: 2979.00
  • Assessor Parcel Number: 13-00028-00035
  • Tax Lot: 00035
  • County Tax Payment Frequency: Annually
  • Tax Year: 2023

MLS Schools

  • School District Name: SALEM CITY SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 2, 2024
Closed on
Aug 15, 2024
Sold by
Fts Capital Llc
Bought by
611 Green Llc
Seller's Agent
Anna Livits
Signature Realty NJ
Buyer's Agent
Drew Conlin
Society
List Price
$149,000
Sold Price
$115,000
Premium/Discount to List
-$34,000
-22.82%
Views
50
Current Estimated Value
$151,333

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$36,333
Avg. Annual Appreciation
23.32%
Original Mortgage
$93,800
Interest Rate
6.89%
Mortgage Type
Construction

Purchase Details

Closed on
May 16, 2023
Sold by
Baker Justin A
Bought by
Fts Capital Llc

Purchase Details

Closed on
Jan 26, 2006
Sold by
Friebel Doyne W and Friebel Tara L
Bought by
Marquez Mark

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$93,600
Interest Rate
9.5%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Jun 30, 2004
Sold by
Smith Marc B and Smith Kristin L
Bought by
Friebel Doyne W and Friebel Tara L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$47,000
Interest Rate
6.3%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 5, 2001
Sold by
Harris Lozetta J and Humprheys Albert R
Bought by
Smith Marc and Smith Kristin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$29,500
Interest Rate
7.08%
Mortgage Type
Credit Line Revolving
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
611 Green Llc $115,000 Pittman Title
Fts Capital Llc -- None Listed On Document
Fts Capital Llc -- None Listed On Document
Marquez Mark $104,000 American National Title Insu
Friebel Doyne W $48,000 --
Smith Marc $30,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed 611 Green Llc $93,800
Previous Owner Marquez Mark $5,200
Previous Owner Marquez Mark $93,600
Previous Owner Friebel Doyne W $47,000
Previous Owner Smith Marc $29,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/16/2024 08/16/24 Sold $115,000 -14.8% $56 / Sq Ft
06/24/2024 06/24/24 Pending -- -- --
05/18/2024 05/18/24 Price Changed $135,000 -9.4% $66 / Sq Ft
05/02/2024 05/02/24 For Sale $149,000 -- $72 / 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 $3,116 $37,900 $8,100 $29,800
2024 $2,979 $37,900 $8,100 $29,800
2023 $2,979 $37,900 $8,100 $29,800
2022 $2,849 $37,900 $8,100 $29,800
2021 $2,751 $37,900 $8,100 $29,800
2020 $2,695 $37,900 $8,100 $29,800
2019 $2,679 $37,900 $8,100 $29,800
2018 $2,620 $37,900 $8,100 $29,800
2017 $2,589 $37,900 $8,100 $29,800
2016 $4,214 $107,600 $14,300 $93,300
2015 $4,160 $107,600 $14,300 $93,300
2014 $4,138 $107,600 $14,300 $93,300
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: NJSA2010878

Bright MLS

APN: 13-00028-0000-00035