Peter Moriello
Real
(908) 460-8554
113 Total Sales
2 in Ridgewood
$1,310,000 Price Range
389 Spring Ave Ridgewood, NJ 07450
Ridgewood AreaEstimated Value: $1,198,000 - $1,430,000
6
Beds
4
Baths
4,157
Sq Ft
$321/Sq Ft
Est. Value
About This Home
As of October 2022Come and See this rare multifamily investment opportunity in the heart of Ridgewood! Live in one unit and have the other two tenants pay your mortgage or rent out all three and collect income! This rare 3 family property sits on over half an acre and has endless possibilities. The owner currently lives in Unit 1, Unit 2 is vacant & Unit 3 has a tenant. Unit 1 features 2 bedrooms, eat in kitchen, bathroom, large living room, large dining room & family room. The family room can be converted back into a third bedroom. Unit 2 features 3 bedrooms, 1 bathroom, living room/dining room. Unit 3 features one bedroom & one bathroom, kitchen & living room. Property has a large unfinished basement which you can also access from outside. Significant rent increases can be available through renovation on top of high cash on cash yield in place for a family seeking a rental income offset or investor. Close to NYC transit, local shops, schools, and parks. Don't miss this opportunity
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $24,952
Lot Details
- 0.58
Home Design
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Full Bathrooms
Additional Features
- Washer and Dryer Hookup
- Laundry in Basement
- 25,265 Sq Ft Lot
- Natural Gas Connected
Listing and Financial Details
- Legal Lot and Block 00009 / 04008
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jun 13, 2022
Closed on
Oct 12, 2022
Sold by
Bought by
Seller's Agent
David Ciliento
Modern Realty Group
Buyer's Agent
Hanan Altaai
Modern Realty Group
List Price
$1,299,999
Sold Price
$950,000
Premium/Discount to List
-$349,999
-26.92%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$385,104
Avg. Annual Appreciation
9.45%
Original Mortgage
$700,000
Outstanding Balance
$670,900
Interest Rate
6.92%
Mortgage Type
New Conventional
Estimated Equity
$664,204
Purchase Details
Closed on
Sep 29, 1976
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Ridgewood, NJ
-
Peter Moriello
-
Susan Bai
Susan Bai
Responds QuicklyKeller Williams Village Square Realty
(551) 305-4076
66 Total Sales
1 in Ridgewood
$720,000 Price
-
Susan Van Poznak
Susan Van Poznak
Keller Williams Town Life
(914) 410-6920
64 Total Sales
1 in Ridgewood
$2,070,000 Price
-
Robert Galvan
Robert Galvan
Prominent Properties Sotheby's International Realty-Ridgewood
(973) 339-0786
40 Total Sales
1 in Ridgewood
$602,000 Price
-
Colin Somerville
Colin Somerville
RE/MAX Properties-Saddle River
(862) 319-8591
81 Total Sales
1 in Ridgewood
$675,000 Price
-
Ami-Sasha Thadani
Ami-Sasha Thadani
Serhant New Jersey LLC
(848) 280-7628
87 Total Sales
4 in Ridgewood
$400K - $930K Price Range
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $950,000 | None Listed On Document | ||
| $17,500 | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $700,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/25/2022 10/25/22 | Sold | $950,000 | -26.9% | $229 / Sq Ft |
| 09/02/2022 09/02/22 | Pending | -- | -- | -- |
| 08/25/2022 08/25/22 | For Sale | $1,299,999 | 0.0% | $313 / Sq Ft |
| 07/28/2022 07/28/22 | Pending | -- | -- | -- |
| 06/13/2022 06/13/22 | For Sale | $1,299,999 | -- | $313 / Sq Ft |
Source: New Jersey MLS
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2026 | $35,920 | $1,242,900 | $564,000 | $678,900 |
| 2025 | $26,435 | $1,242,900 | $564,000 | $678,900 |
| 2024 | $25,836 | $921,400 | $564,000 | $357,400 |
| 2023 | $25,182 | $921,400 | $564,000 | $357,400 |
| 2022 | $25,182 | $921,400 | $564,000 | $357,400 |
| 2021 | $23,997 | $921,400 | $564,000 | $357,400 |
| 2020 | $24,297 | $921,400 | $564,000 | $357,400 |
| 2019 | $23,929 | $921,400 | $564,000 | $357,400 |
| 2018 | $23,634 | $921,400 | $564,000 | $357,400 |
| 2017 | $23,385 | $921,400 | $564,000 | $357,400 |
| 2016 | $22,814 | $921,400 | $564,000 | $357,400 |
| 2015 | $22,418 | $921,400 | $564,000 | $357,400 |
| 2014 | $21,975 | $921,400 | $564,000 | $357,400 |
Source: Public Records
Agents Affiliated with this Home
-
David Ciliento
Seller's Agent in 2022
David Ciliento
Modern Realty Group
(973) 332-6578
62 Total Sales
-
Hanan Altaai
Buyer's Agent in 2022
Hanan Altaai
Modern Realty Group
(973) 580-9629
48 Total Sales
Map
Source: New Jersey MLS
MLS Number: 22021629
APN: 51-04008-0000-00009
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.
The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Ten-X are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.
All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing, Inc.
© 2026 New Jersey Multiple Listing Service Inc. All rights reserved.
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