1761 Spring Garden Rd Millville, NJ 08332
Estimated payment $836/month
Highlights
- No HOA
- Forced Air Heating System
- Mobile Home
- Luxury Vinyl Plank Tile Flooring
About This Home
**Investor Opportunity: Income-Generating Portfolio of 20 Rental Properties for $2,000,000**
Presenting an exceptional investment opportunity in the highly sought-after Laurel Lakes community! This portfolio includes 20 well-maintained, tenant-occupied properties, all strategically located within the same thriving neighborhood. With a consistent and reliable tenant base, these homes provide immediate cash flow and long-term stability.
One property within this portfolio is **1761 Spring Garden**, offering a prime example of steady rental income. This charming home has been newly leased, ensuring minimal vacancy risk and dependable revenue. The home itself boasts an **open-concept living area**, 3 spacious bedrooms, and a full bath, all nestled on a beautifully landscaped lot with mature trees and two off-street parking spaces. This unit has a new heater and has been newly renovated.
Key Investment Highlights:
- **Portfolio Price**: $2,000,000 for 20 properties
- **Annual Gross Income**: $240,000
- **12% CAP Rate**: Strong return potential in a stable, in-demand location
- **Tenant Stability**: Long-term, reliable tenants in place across all properties
- **Maintenance & Management**: Well-maintained homes with minimal upkeep required
This portfolio presents a rare opportunity to secure a high-performing asset in a community with ongoing rental demand and future growth potential. With a strong CAP rate and consistent cash flow, this investment is ideal for serious investors seeking to expand their holdings in a thriving market. Don’t miss out on this lucrative opportunity in Laurel Lakes! Portfolio includes MLS# NJCB2021228, NJCB2021246, NJCB2021260, NJCB2021276, NJCB2021262, NJCB2021278, NJCB2021280, NJCB2021286, NJCB2021284, NJCB2021288, NJCB2021290, NJCB2021294, NJCB2021296, NJCB2021298, NJCB2021300, NJCB2021302, NJCB2021304, NJCB2021306, NJCB2021308, and NJCB2021310.
Listing Agent
Compass New Jersey, LLC - Moorestown License #RS370988 Listed on: 11/09/2024
Property Details
Home Type
- Mobile/Manufactured
Est. Annual Taxes
- $1,080
Year Built
- Built in 1965 | Remodeled in 2024
Lot Details
- 0.28 Acre Lot
- Lot Dimensions are 120.00 x 100.00
Home Design
- Flat Roof Shape
- Frame Construction
Interior Spaces
- 1,040 Sq Ft Home
- Property has 1 Level
- Luxury Vinyl Plank Tile Flooring
Bedrooms and Bathrooms
- 3 Main Level Bedrooms
- 1 Full Bathroom
Laundry
- Laundry on main level
- Washer and Dryer Hookup
Parking
- 2 Parking Spaces
- 2 Driveway Spaces
Mobile Home
- Double Wide
Utilities
- Forced Air Heating System
- Well
- Electric Water Heater
- On Site Septic
Community Details
- No Home Owners Association
- Laurel Lakes Subdivision
Listing and Financial Details
- Tax Lot 00120
- Assessor Parcel Number 02-00151-00120
Map
Home Values in the Area
Average Home Value in this Area
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 | $1,081 | $36,100 | $17,400 | $18,700 |
| 2024 | $1,081 | $36,100 | $17,400 | $18,700 |
| 2023 | $1,068 | $36,100 | $17,400 | $18,700 |
| 2022 | $1,056 | $36,100 | $17,400 | $18,700 |
| 2021 | $1,040 | $36,100 | $17,400 | $18,700 |
| 2020 | $1,015 | $36,100 | $17,400 | $18,700 |
| 2019 | $2,192 | $84,100 | $36,400 | $47,700 |
| 2018 | $2,199 | $84,100 | $36,400 | $47,700 |
| 2017 | $2,116 | $84,100 | $36,400 | $47,700 |
| 2016 | $2,044 | $84,100 | $36,400 | $47,700 |
| 2015 | $2,060 | $84,100 | $36,400 | $47,700 |
| 2014 | $1,976 | $84,100 | $36,400 | $47,700 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 11/09/2024 11/09/24 | For Sale | $140,000 | -- | $135 / Sq Ft |
Source: Bright MLS
MLS Number: NJCB2021308
APN: 02-00151-0000-00120
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