NOT LISTED FOR SALE

211 W 3rd St Plainfield, NJ 07060

Estimated Value: $653,000

-- Bed
-- Bath
5,000 Sq Ft
$131/Sq Ft Est. Value

Last Sold August 05, 2020

Last sale price $450,000 $90 Per Sq Ft

Est. 45% increase in value since last sale

Current estimated payment $4,508/month

98 Days on Market

About This Home

As of August 2020

Income producing property. Cash cow! 7 apartments that are all undervalued and can produce substantially more rent. All tenants pay their own utilities. Total monthly rent is $5,425 per month or $65,100 per year. There are four 2/1 and 3 1/1. Unit 1 leases for: $1,200 per monthUnit 2 leases for: $550 per monthUnit 3 leases for: $900 per monthUnit 4 leases for: $900 per monthUnit 5 leases for: $540 per monthUnit 6 leases for $785 per monthUnit 7 leases for $550 per monthAll 2/1 should be leasing for $1,200 per month-$4,800 per monthAll 1/1 should be leasing for $950 per month-$2,850 per monthPotential gross income is $7,650 per month or $91,800 per year. Property has the potential to be a cash cow!

Last Agent to Sell the Property

Marc Sorrentino

VRI Homes Brokerage Phone: 800-531-2885 License #1648911 Listed on: 06/27/2020

Co-Listed By

Peter DiCataldo

RE/MAX Central Brokerage Phone: 800-531-2885 License #1860594

Last Buyer's Agent

Marc Sorrentino

VRI Homes Brokerage Phone: 800-531-2885 License #1648911 Listed on: 06/27/2020

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,451

Year Built

  • Built in 1925

Lot Details

  • 6,926

Utilities

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

Additional Features

  • 2-Story Property
  • Lot Dimensions are 76.88 x 95.2
  • Basement

Community Details

  • 7 Units

Listing and Financial Details

  • Assessor Parcel Number 12-00102-0000-00001

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,451

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Six Family
  • Attribution Contact: 800-531-2885
  • Co List Office Mls Id: 138
  • Co List Office Phone: 732-264-9593
  • Subdivision Name: None
  • Year Built: 1925
  • General Property Info Waterview: No
  • General Property Info Basement: Yes
  • General Property Info Pool: No
  • WaterSewer Public Sewer: Yes
  • General Property Info Lot Dimensions: 76.88 x 95.2
  • WaterSewer Public Water: Yes
  • Water Heater Natural Gas2: Yes
  • Special Features: None

Interior Features

  • Basement: Other
  • Basement: Yes
  • Stories: 2
  • BasementOther: Yes

Exterior Features

  • Waterfront: No

Garage/Parking

  • Garage: No
  • General Property Info:Garage: No

Utilities

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

Lot Info

  • Lot Dimensions: 76.88 x 95.2
  • Parcel #: 12-00102-0000-00001

Tax Info

  • Tax Year: 2019
  • Tax Annual Amount: 10451.0
  • Tax Other Annual Assessment Amount: 125000.0

Multi Family

  • Number Of Units Total: 7

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 27, 2020
Closed on
Aug 6, 2020
Sold by
West 3Rd Waterview Holdings 18 Llc
Bought by
Yyy 2020 Llc
Seller's Agent
Marc Sorrentino
VRI Homes
Buyer's Agent
Marc Sorrentino
VRI Homes
List Price
$560,000
Sold Price
$450,000
Premium/Discount to List
-$110,000
-19.64%
Current Estimated Value
$653,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$203,000
Original Mortgage
$473,087
Interest Rate
3%
Mortgage Type
Commercial

Purchase Details

Closed on
May 5, 2017
Sold by
Waterview Holdings 18 Llc
Bought by
West 3Rd Waterview Holdings 18 Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,200,000
Interest Rate
4.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 7, 2015
Sold by
Lime Holdings Llc
Bought by
Waterview Holdings 18 Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,000
Interest Rate
12%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 15, 2015
Sold by
Tlr V Llc
Bought by
Lime Holdings Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,000
Interest Rate
12%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Yyy 2020 Llc $450,000 Stewart Title Guaranty Co
West 3Rd Waterview Holdings 18 Llc -- None Available
Waterview Holdings 18 Llc $235,000 Agent For The Security Title
Lime Holdings Llc $135,000 Abraxas Abstract Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Yyy 2020 Llc $1,200,000
Closed Yyy 2020 Llc $473,087
Previous Owner West 3Rd Waterview Holdings 18 Llc $3,200,000
Previous Owner Waterview Holdings 18 Llc $140,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/05/2020 08/05/20 Sold $450,000 -19.6% $90 / Sq Ft
06/30/2020 06/30/20 Pending -- -- --
06/27/2020 06/27/20 For Sale $560,000 0.0% $112 / Sq Ft
04/02/2020 04/02/20 Pending -- -- --
03/23/2020 03/23/20 For Sale $560,000 -- $112 / 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 $10,808 $125,000 $50,400 $74,600
2023 $10,808 $125,000 $50,400 $74,600
2022 $10,574 $125,000 $50,400 $74,600
2021 $10,481 $125,000 $50,400 $74,600
2020 $10,451 $125,000 $50,400 $74,600
2019 $10,451 $125,000 $50,400 $74,600
2018 $13,016 $159,000 $50,400 $108,600
2017 $13,496 $169,000 $50,400 $118,600
2016 $13,221 $169,000 $50,400 $118,600
2015 $12,830 $169,000 $50,400 $118,600
2014 -- $169,000 $50,400 $118,600
Source: Public Records

Agents Affiliated with this Home

  • Marc Sorrentino

    Seller's Agent in 2020

    Marc Sorrentino

    VRI Homes

    (732) 816-9178

    3 in this area

    32 Total Sales

    Marc Sorrentino
    Section Image
  • Peter DiCataldo

    Seller Co-Listing Agent in 2020

    Peter DiCataldo

    RE/MAX

    (732) 939-2906

    1 in this area

    25 Total Sales

    Peter DiCataldo
    Section Image
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Map

Source: MOREMLS (Monmouth Ocean Regional REALTORS®)

MLS Number: 22011184

MOREMLS (Monmouth Ocean Regional REALTORS®)

APN: 12-00102-0000-00001

New Jersey Union County Plainfield 07060

211 W 3rd St, Plainfield, NJ

This home is located at 211 W 3rd St, Plainfield, NJ 07060 since 27 June 2020 and is currently priced at $653,000, approximately $130 per square foot. This property was built in 1925. 211 W 3rd St is a home located in Union County with nearby schools including Charles H. Stillman Elementary School, Hubbard Middle School, and Plainfield High 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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