NOT LISTED FOR SALE

420 Cinnaminson Ave Palmyra, NJ 08065

Estimated Value: $458,738 - $642,000

-- Bed
-- Bath
3,232 Sq Ft
$161/Sq Ft Est. Value

Last Sold December 15, 2017

Last sale price $360,000 $111 Per Sq Ft

Est. 45% increase in value since last sale

Current estimated payment $3,804/month

55 Days on Market

Highlights

  • No HOA
  • 3-minute walk to Palmyra
  • Parking Storage or Cabinetry
  • 4 Car Detached Garage
  • Cooling System Mounted In Outer Wall Opening
  • Tile or Brick Flooring

About This Home

As of December 2017

The best opportunity in a long time has arrived! This residential investment gem was designed with 4 spacious single floor 2-bedroom, 1 bath rental apts. Pull into the new asphalt driveway with off-street newly stoned parking area, detached 4-car individual locking garages and new security lights at front and rear private entrances. Apts are kept dry with a newer maintenance free rubber roof recently silver coated along with the garage roof. The owner worked hard to convert the property to almost maintenance free with vinyl siding, efficient vinyl windows, new mailboxes, replacing lawns and bushes with stone beds, trimmed back trees, replaced curb sewer trap, resident paid utilities and all doors are easily rekeyed with Kwikset Smart Key Locks. Long term residents enjoy their large living/dining room, W/W carpet, galley style kitchen, gas cooking, fridge, ceiling fans in both bedrooms, new paint throughout, walk-in closet, programmable thermostats and exterior patio. Owner has sweetened the deal with Apts. #1 and #2 having been completely renovated in January 2017 with new bathrooms, shower surrounds, paint, carpet, kitchen cabinets, garbage disposal, SS microwave, SS dishwasher, ceiling fans, flooring and fixtures. Even more landlord savings are apparent with each apt having newer hot water heaters and newer efficient gas heat boilers, resident paid. Increase your revenue with shared coin operated commercial size large capacity washer and dryer. All security deposits are 1-1/2 months. Property has all current NJ State inspections and sold as-is. Walk up only 1-block to the center of the town of Palmyra, NJ where you will find convenience stores, restaurants, bars, caf 's, shops, banks, town hall, new community center, post office, police station, fire department and redeveloped Legion Field with new football, soccer, baseball fields, basketball and tennis courts and concession stands. Multiple schools, Riverline Light Rail train and buses are just blocks away. Location is key as we are located just 1-mile from the Tacony-Palmyra Bridge with the Palmyra Cove Nature Center and hiking trails, or jog and bike along the Delaware River. With rising property prices and rising rents, don't let this investment opportunity get away! Excludes: Tenant Belongings, Garage Contents, (2) Front Plastic Trees, Rain Barrel, Landlords lawnmower, laundry storage cabinet

Last Agent to Sell the Property

Michael Gidzinski

(856) 313-7503 mgidzinski@comcast.net Weichert Realtors - Moorestown License #0232098 Listed on: 08/11/2017

Weichert Realtors - Moorestown

Last Buyer's Agent

Matthew Colucci

(856) 535-8245 coluccirealestate@gmail.com Garden Realty of Haddonfield, LLC

Garden Realty of Haddonfield, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,541

Year Built

  • Built in 1960

Lot Details

  • 7,500 Sq Ft Lot
  • Lot Dimensions are 50x150
  • Property is in good condition

Parking

  • 4 Car Detached Garage
  • 4 Open Parking Spaces
  • Parking Storage or Cabinetry

Home Design

  • Quadruplex
  • Flat Roof Shape
  • Brick Foundation
  • Stucco

Interior Spaces

  • En-Suite Primary Bedroom
  • 3,232 Sq Ft Home
  • Replacement Windows
  • Unfinished Basement
  • Partial Basement

Flooring

  • Wall to Wall Carpet
  • Tile or Brick

Schools

  • Palmyra High School

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating System Uses Gas
  • Hot Water Heating System
  • 100 Amp Service
  • Natural Gas Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 00014
  • Assessor Parcel Number 27-00087-00014

Community Details

Building Details

  • Income includes laundry
  • Insurance Expense $3,175
  • Operating Expense $15,284

Additional Features

  • No Home Owners Association
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,541

Year Built

Built in 1960

Lot Details

0

Parking

4

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Quadruplex
  • Structure Type: Detached
  • Ownership: Fee Simple
  • Inclusions: 4 Refrig, 4 Ranges, Existing W/W Carpet
  • New Construction: No
  • Storage: Garage
  • Year Built: 1960
  • Remarks Public: The best opportunity in a long time has arrived! This residential investment gem was designed with 4 spacious single floor 2-bedroom, 1 bath rental apts. Pull into the new asphalt driveway with off-street newly stoned parking area, detached 4-car individual locking garages and new security lights at front and rear private entrances. Apts are kept dry with a newer maintenance free rubber roof recently silver coated along with the garage roof. The owner worked hard to convert the property to almost maintenance free with vinyl siding, efficient vinyl windows, new mailboxes, replacing lawns and bushes with stone beds, trimmed back trees, replaced curb sewer trap, resident paid utilities and all doors are easily rekeyed with Kwikset Smart Key Locks. Long term residents enjoy their large living/dining room, W/W carpet, galley style kitchen, gas cooking, fridge, ceiling fans in both bedrooms, new paint throughout, walk-in closet, programmable thermostats and exterior patio. Owner has sweetened the deal with Apts. #1 and #2 having been completely renovated in January 2017 with new bathrooms, shower surrounds, paint, carpet, kitchen cabinets, garbage disposal, SS microwave, SS dishwasher, ceiling fans, flooring and fixtures. Even more landlord savings are apparent with each apt having newer hot water heaters and newer efficient gas heat boilers, resident paid. Increase your revenue with shared coin operated commercial size large capacity washer and dryer. All security deposits are 1-1/2 months. Property has all current NJ State inspections and sold as-is. Walk up only 1-block to the center of the town of Palmyra, NJ where you will find convenience stores, restaurants, bars, caf 's, shops, banks, town hall, new community center, post office, police station, fire department and redeveloped Legion Field with new football, soccer, baseball fields, basketball and tennis courts and concession stands. Multiple schools, Riverline Light Rail train and buses are just blocks away. Location is key as we are located just 1-mile from the Tacony-Palmyra Bridge with the Palmyra Cove Nature Center and hiking trails, or jog and bike along the Delaware River. With rising property prices and rising rents, don't let this investment opportunity get away! Excludes: Tenant Belongings, Garage Contents, (2) Front Plastic Trees, Rain Barrel, Landlords lawnmower, laundry storage cabinet
  • Special Features: None

Interior Features

  • Flooring Type: Fully Carpeted, Tile/Brick
  • Window Features: Replacement
  • Fireplace: No
  • Entry Location: Foyer
  • Foundation Details: Brick/Mortar
  • Room List: Primary Bedroom
  • Basement: Yes
  • Basement Type: Partial, Unfinished
  • Laundry Type: Common
  • Total Sq Ft: 3232
  • Living Area Sq Ft: 3232
  • Price Per Sq Ft: 117.57
  • Above Grade Finished Sq Ft: 3232
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 420

Exterior Features

  • Other Structures: Above Grade
  • Construction Materials: Stucco
  • Exterior Features: Sidewalks, Street Lights
  • Roof: Flat
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage Spaces: 4.00
  • Garage: Yes
  • Open Parking Spaces Count: 4
  • Number Of Detached Garage Spaces: 4
  • Total Garage And Parking Spaces: 8
  • Type Of Parking: Detached Garage

Utilities

  • Central Air Conditioning: No
  • Cooling Type: Wall Unit
  • Cooling: Yes
  • Electric Service: 100 Amp Service
  • Heating Fuel: Natural Gas
  • Heating Type: Gas, Hot Water
  • Heating: Yes
  • Hot Water: Natural Gas
  • Sewer/Septic System: Public Sewer
  • Utilities: Cable Tv Available
  • Water Sewer Expenses: 2568.00
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: No
  • HOA: No

Schools

  • School District: PALMYRA BOROUGH PUBLIC SCHOOLS
  • High School: PALMYRA
  • School District Key: 300200396966
  • High School: PALMYRA

Lot Info

  • Lot Size Acres: 0.17
  • Lot Dimensions: 50X150
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 7500.00
  • Property Attached Yn: Yes
  • Property Condition: Good
  • Zoning: MULTI

Rental Info

  • Vacation Rental: No

Multi Family

  • Gross Income: 50400.00
  • Income Includes: Laundry
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 3

Tax Info

  • Tax Annual Amount: 9541.00
  • Assessor Parcel Number: 27-00087-00014
  • Tax Lot: 00014
  • Tax Year: 2016
  • Close Date: 12/15/2017

MLS Schools

  • School District Name: PALMYRA BOROUGH PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 11, 2017
Closed on
Dec 15, 2017
Sold by
Lula Kenneth
Bought by
Gibbons Derek
Seller's Agent
Michael Gidzinski
Weichert Realtors - Moorestown
Buyer's Agent
Matthew Colucci
Garden Realty of Haddonfield, LLC
List Price
$380,000
Sold Price
$360,000
Premium/Discount to List
-$20,000
-5.26%
Current Estimated Value
$521,435

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$161,435
Avg. Annual Appreciation
4.86%
Original Mortgage
$353,479
Interest Rate
3.75%
Mortgage Type
FHA

Purchase Details

Closed on
Jun 30, 2006
Sold by
Lula Kenneth and Forcella Lula Denise A
Bought by
Lula Kenneth A

Purchase Details

Closed on
Aug 2, 2004
Sold by
Kenney Matthew E
Bought by
Lula Kenneth and Forcella Lula Denise A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$234,900
Interest Rate
6.03%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Jun 15, 2000
Sold by
Bankert Lorna J
Bought by
Kenney Matthew E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$136,000
Interest Rate
8.13%
Mortgage Type
Stand Alone First

Purchase Details

Closed on
Jun 9, 1994
Sold by
Kline H Lee and Kline Leonore
Bought by
Bankert Jay W and Bankert Lorna J
Source: Public Records

Range of Values:

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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
Gibbons Derek $360,000 All Pro Title Group
Lula Kenneth A -- Weichert Title Agency
Lula Kenneth $261,000 Weichert Title Agency
Kenney Matthew E $170,000 --
Bankert Jay W $165,000 Medford Title Agency Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Gibbons Derek $353,479
Previous Owner Lula Kenneth $234,900
Previous Owner Kenney Matthew E $136,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/15/2017 12/15/17 Sold $360,000 -5.3% $111 / Sq Ft
10/05/2017 10/05/17 Pending -- -- --
08/11/2017 08/11/17 For Sale $380,000 -- $118 / 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 $12,336 $285,300 $48,000 $237,300
2024 $12,080 $285,300 $48,000 $237,300
2023 $12,080 $285,300 $48,000 $237,300
2022 $11,794 $285,300 $48,000 $237,300
2021 $11,383 $285,300 $48,000 $237,300
2020 $11,426 $285,300 $48,000 $237,300
2019 $11,067 $285,300 $48,000 $237,300
2018 $9,858 $257,800 $48,000 $209,800
2017 $9,732 $257,800 $48,000 $209,800
2016 $9,541 $257,800 $48,000 $209,800
2015 $9,405 $257,800 $48,000 $209,800
2014 $8,989 $257,800 $48,000 $209,800
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: 1001753555

Bright MLS

APN: 27-00087-0000-00014