$194,000
SOLD MAR 4, 2025

5 S 3rd St Salem, NJ 08079

Studio
-- Bath
1,595 Sq Ft
2,200 Sq Ft Lot

Recently Sold

$122 Per Sq Ft

3% Below List Price

38 Days on Market

Highlights

  • Traditional Floor Plan
  • Central Heating
  • Property is in very good condition
  • Attic
  • Ceiling Fan

About This Home

As of March 2025

Are you looking for a fantastic investment opportunity or a spacious home that can generate rental income? Look no further! This property is eligible for USDA financing with no down payment—what a deal! Rent on unit out and live in the other. This is an ideal situation to low modestly while capitalizing on your investment . This property has been Recently renovated, it features two adjacent units, one with 4 bedrooms and 1 bathroom, basement and the other 2 bedrooms 1 bath with front porch. Both units are outfitted with brand-new flooring, appliance package , updated baths, and paint. Residents can enjoy a shared backyard, perfect for hosting gatherings or relaxing outdoors. There's also ample off-street parking available for visitors. Situated in a tranquil residential neighborhood, this property is conveniently located just a short drive from local schools, shopping districts, and dining options. Don't miss out on this incredible opportunity to own a versatile, income-producing property in a highly desirable area!

Last Agent to Sell the Property

Colleen Dorrego

(609) 868-2862 cdorrego@comcast.net Keller Williams Realty - Washington Township Listed on: 12/19/2024

Keller Williams Realty - Washington Township

Last Buyer's Agent

Kenneth LePosa

(908) 309-1156 k.leposa19@gmail.com Coldwell Banker Realty License #2220081

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,877

Year Built

  • Built in 1890

Lot Details

  • 2,200 Sq Ft Lot
  • Lot Dimensions are 71.00 x 31.00
  • Property is in very good condition

Parking

  • On-Street Parking

Home Design

  • Duplex
  • Side-by-Side
  • Block Foundation
  • Architectural Shingle Roof

Interior Spaces

  • 1,595 Sq Ft Home
  • Traditional Floor Plan
  • Ceiling Fan
  • Laminate Flooring
  • Attic

Schools

  • Salem Elementary School
  • Salem Middle School
  • Salem High School

Utilities

  • Window Unit Cooling System
  • Central Heating
  • Electric Water Heater

Community Details

  • 2 Units
  • 1 Vacant Unit

Listing and Financial Details

  • Tax Lot 00022
  • Assessor Parcel Number 13-00048-00022

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,877

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Duplex
  • Structure Type: Detached
  • Architectural Style: Side-By-Side
  • Ownership: Fee Simple
  • New Construction: No
  • Expected On Market: 2024-12-20
  • Year Built: 1890
  • Automatically Close On Close Date: No
  • Special Features: None

Interior Features

  • Flooring Type: Laminate Plank
  • Interior Amenities: Attic, Ceiling Fan(s), Floor Plan - Traditional
  • Fireplace: No
  • Foundation Details: Block
  • Total Sq Ft: 1595
  • Living Area Sq Ft: 1595
  • Price Per Sq Ft: 125.33
  • Above Grade Finished Sq Ft: 1595
  • Above Grade Finished Area Units: Square Feet

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Block
  • Roof: Architectural Shingle
  • 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
  • Cooling Fuel: Electric
  • Cooling Type: Ceiling Fan(s), Window Unit(s)
  • Heating Fuel: Electric
  • Heating Type: Central
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Utilities: Electric Available
  • Water Source: Public

Schools

  • Elementary School Source: Listing Agent
  • High School Source: Listing Agent
  • Middle School Source: Listing Agent
  • School District Source: Listing Agent
  • Elementary School: SALEM
  • High School: SALEM H.S.
  • Middle Or Junior School: SALEM M.S.

Lot Info

  • Lot Size Acres: 0.05
  • Lot Dimensions: 71.00 x 31.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 2200.00
  • Property Condition: Very Good
  • Zoning: RESIDENTIAL

Rental Info

  • Existing Lease Type: Yearly
  • Rent Control: No
  • Units Leased Count: 2
  • Vacation Rental: No

Multi Family

  • Number Of Units Vacant: 1
  • Other Units: Unit 1,Unit 2

Tax Info

  • Tax Annual Amount: 2877.00
  • Assessor Parcel Number: 13-00048-00022
  • Tax Lot: 00022
  • Tax Data Updated: No
  • Tax Year: 2024

MLS Schools

  • School District Name: SALEM CITY SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 19, 2024
Closed on
Feb 28, 2025
Sold by
Pd Enterprises Llc
Bought by
Leposa Kenneth
Seller's Agent
Colleen Dorrego
Keller Williams Realty - Washington Township
Buyer's Agent
Kenneth LePosa
Coldwell Banker Realty
List Price
$199,900
Sold Price
$194,000
Premium/Discount to List
-$5,900
-2.95%
Views
53
Current Estimated Value
$193,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$1,000
Avg. Annual Appreciation
-0.59%
Original Mortgage
$145,500
Outstanding Balance
$144,266
Interest Rate
6.96%
Mortgage Type
New Conventional
Estimated Equity
$48,734

Purchase Details

Closed on
Mar 27, 2013
Sold by
J&S Management Group Llc
Bought by
Pd Enterprises Llc

Purchase Details

Closed on
Sep 26, 2012
Sold by
Burns Sharmayne S
Bought by
J And S Management Group Llc

Purchase Details

Closed on
Mar 30, 2011
Sold by
J And S Management Group Llc
Bought by
Burns Sharmayne S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$118,050
Interest Rate
4.76%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 31, 2006
Sold by
Providence Property Management Llc and Straub Francis L
Bought by
Young Sharmayne S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$117,000
Interest Rate
6.8%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 1, 2003
Sold by
Straub Francis L and Straub Francis L
Bought by
Providence Property Management Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$40,000
Interest Rate
10%

Purchase Details

Closed on
Oct 17, 2001
Sold by
Zieger Eugene B
Bought by
Pryor Ii Richard W

Purchase Details

Closed on
May 6, 1999
Sold by
Pryor Richard W
Bought by
Zieger Eugene B
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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 Type Sale Price Title Company
Bargain Sale Deed $194,000 Surety Title
Bargain Sale Deed $194,000 Surety Title
Deed $27,000 Surety Title Company
Quit Claim Deed -- --
Quit Claim Deed -- --
Bargain Sale Deed $130,000 Surety Title Corporation
Bargain Sale Deed -- --
Bargain Sale Deed -- --
Bargain Sale Deed $44,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $145,500 New Conventional
Closed $145,500 New Conventional
Previous Owner $118,050 Purchase Money Mortgage
Previous Owner $117,000 Purchase Money Mortgage
Previous Owner $40,000 No Value Available
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/04/2025 03/04/25 Sold $194,000 -3.0% $122 / Sq Ft
01/27/2025 01/27/25 Pending -- -- --
12/19/2024 12/19/24 For Sale $199,900 -- $125 / 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 $2,878 $35,000 $6,500 $28,500
2024 $2,751 $35,000 $6,500 $28,500
2023 $2,751 $35,000 $6,500 $28,500
2022 $2,631 $35,000 $6,500 $28,500
2021 $2,540 $35,000 $6,500 $28,500
2020 $2,489 $35,000 $6,500 $28,500
2019 $2,474 $35,000 $6,500 $28,500
2018 $2,420 $35,000 $6,500 $28,500
2017 $2,391 $35,000 $6,500 $28,500
2016 $3,830 $97,800 $15,800 $82,000
2015 $3,781 $97,800 $15,800 $82,000
2014 $3,761 $97,800 $15,800 $82,000
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: NJSA2013218

Bright MLS

APN: 13-00048-0000-00022