NOT LISTED FOR SALE

5024 Ocean Dr Avalon, NJ 08202

Estimated Value: $8,082,000 - $9,788,846

6 Beds
7 Baths
7,697 Sq Ft
$1,187/Sq Ft Est. Value

Last Sold December 18, 2020

Last sale price $6,400,000 $831 Per Sq Ft

Est. 43% increase in value since last sale

Current estimated payment $54,976/month

276 Days on Market

Highlights

  • 90 Feet of Waterfront
  • Primary bedroom faces the bay
  • Access to Tidal Water
  • Avalon Elementary School Rated A
  • 2 Dock Slips
  • Boat Ramp

About This Home

As of December 2020

Live the life in Avalon in this one-of-a-kind three story bright & open 7,697 sq. ft. bayfront property with unobstructed water and sunset views on an oversized 90 x 290 lot. This luxurious home not only provides bayfront living at its best, but is just steps to a beach path that leads to the exclusive Avalon high dune beach allowing the best of the bay and the beach. Experience the bayfront lifestyle including swimming, boating jet skiing and never-ending water and sunset views. Your outside exquisite living does not end with the bay and beach. You will find a large heated salt water pool surrounded by Travertine paving that includes an Infinity Jacuzzi. The dock has electrical power and all modern LED accent lighting and leads to a floating dock which can accommodate a 55 or larger yacht. There is also room for wave runners or another small boat. In addition there is an expansive deck overlooking the pool, dock and bay. Three car oversized attached garage with inside access as well as a large paved driveway which can accommodate up to 6 cars. Exquisite landscaping. Double walnut entry doors. Floor to ceiling windows, open floor plan and bay views. Expansive family/theater room with surround sound, gas fireplace and travertine flooring. Additional entertainment room with mahogany built-in wet bar and travertine radiant heated flooring, two cooling drawers, wine cooler, dishwasher and a bar storage closet. Also, on the first floor are two large well designed ensuite bedrooms, powder room, bar area and laundry room. Walnut stairs and Concord elevator to the second floor. The second floor has the open great room with living and dining areas and an eat-in-kitchen. Living room: cathedral ceilings, cherry hardwood flooring, and natural gas fireplace. Gourmet chef kitchen with a huge center island and lovely granite counter tops; Plenty of cabinet space, and a sub-zero refrigerator, gas Wolf Stove with a grill to use inside for those rainy or winter days, two dishwashers, wine cooler, heating drawer and two sub-zero cooling drawers, a separate ice-maker and much more. There are also two additional ensuite bedrooms on this floor. Third floor exquisite master suite with gas fire place, two walk-in closets, oversized bathroom with Jacuzzi tub and large glass steam shower. Relax on your private terrace with a cabana and experience the breathtaking sunset views. Rarely offered roof top deck allows you to enjoy panoramic views of the coastline, high dunes, and annual fireworks. This floor is completed with an office and a gym with water views.Multi-zoned gas heat and central air; surround sound in master bedroom, family and theatre room on the first floor. The pool area as well as floor on the exterior has speakers with a high quality sound system. The home also comes fully furnished for a full turn-key purchase.Built in 2006 there has been only one owner. It has never been rented and has been updated over the ownership period including modern furniture all of which is meticulously maintained. A bayfront home of this size and design with so many amenities rarely ever comes on the market. Furthermore, it is being offered at just $908 per square foot which is well below the market value of others. Factor in the open bay views and a huge lot of 90 x 290 along with all the other amenities makes this home one you must consider. Call today for a showing and take advantage of the opportunity. One of the owners is a licensed NJ Real Estate Agent.

Last Agent to Sell the Property

Michael Mavromates

Long & Foster Real Estate, Inc. Listed on: 02/09/2020

Long & Foster Real Estate, Inc.

Last Buyer's Agent

datacorrect BrightMLS

Non Subscribing Office

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $31,901

Year Built

  • Built in 2006

Lot Details

  • 0.6 Acre Lot
  • Lot Dimensions are 90 x 290
  • 90 Feet of Waterfront
  • Home fronts navigable water
  • Property Fronts a Bay or Harbor
  • East Facing Home
  • Decorative Fence
  • Landscaped
  • Extensive Hardscape
  • No Through Street
  • Level Lot
  • Sprinkler System
  • Tidal Wetland on Lot
  • Back Yard Fenced, Front and Side Yard
  • Property is in good condition
  • Zoning described as Single Family residential

Parking

  • 3 Car Direct Access Garage
  • 6 Open Parking Spaces
  • Lighted Parking
  • Front Facing Garage
  • Garage Door Opener
  • Stone Driveway
  • On-Street Parking
  • Off-Street Parking

Home Design

  • Coastal Architecture
  • Foundation Flood Vent
  • Slab Foundation
  • Pitched Roof
  • Shingle Roof
  • Stucco

Interior Spaces

  • 7,697 Sq Ft Home
  • Property has 3 Levels
  • 1 Elevator
  • Open Floorplan
  • Wet Bar
  • Central Vacuum
  • Furnished
  • Curved or Spiral Staircase
  • Built-In Features
  • Bar
  • Cathedral Ceiling
  • Ceiling Fan
  • Recessed Lighting
  • 2 Fireplaces
  • Gas Fireplace
  • Insulated Windows
  • Window Treatments
  • Sliding Windows
  • Double Door Entry
  • Sliding Doors
  • Great Room
  • Family Room Off Kitchen
  • Living Room
  • Dining Room
  • Den
  • Home Gym
  • Bay Views
  • Crawl Space

Kitchen

  • Eat-In Gourmet Kitchen
  • Breakfast Area or Nook
  • Gas Oven or Range
  • Self-Cleaning Oven
  • Commercial Range
  • Six Burner Stove
  • Built-In Range
  • Indoor Grill
  • Built-In Microwave
  • Extra Refrigerator or Freezer
  • Ice Maker
  • Dishwasher
  • Kitchen Island
  • Wine Rack
  • Trash Compactor
  • Disposal

Flooring

  • Wood
  • Carpet
  • Heated Floors
  • Marble
  • Tile or Brick

Bedrooms and Bathrooms

  • Primary bedroom faces the bay
  • En-Suite Primary Bedroom
  • En-Suite Bathroom
  • Walk-In Closet
  • Whirlpool Bathtub
  • Bathtub with Shower
  • Walk-in Shower

Laundry

  • Laundry Room
  • Laundry on lower level
  • Gas Dryer
  • Washer

Home Security

  • Home Security System
  • Exterior Cameras
  • Carbon Monoxide Detectors
  • Fire and Smoke Detector
  • Flood Lights

Accessible Home Design

  • Accessible Elevator Installed
  • Halls are 36 inches wide or more
  • More Than Two Accessible Exits

Eco-Friendly Details

  • Energy-Efficient Appliances
  • Energy-Efficient Windows

Pool

  • Heated Pool and Spa
  • Heated In Ground Pool
  • Gunite Pool
  • Saltwater Pool
  • Poolside Lot
  • Outdoor Shower

Outdoor Features

  • Access to Tidal Water
  • Canoe or Kayak Water Access
  • Property near a bay
  • Sun Deck
  • Personal Watercraft
  • Riparian Grant
  • Bulkhead
  • Swimming Allowed
  • Boat Ramp
  • 2 Dock Slips
  • Physical Dock Slip Conveys
  • Dock made with Composite Material
  • 2 Powered Boats Permitted
  • Balcony
  • Deck
  • Patio
  • Exterior Lighting
  • Outdoor Storage
  • Outdoor Grill
  • Playground
  • Porch

Location

  • Flood Zone Lot
  • Flood Risk

Schools

  • Avalon Elementary And Middle School

Utilities

  • Forced Air Zoned Cooling and Heating System
  • Radiant Heating System
  • Vented Exhaust Fan
  • Above Ground Utilities
  • 220 Volts
  • Natural Gas Water Heater
  • Municipal Trash
  • Phone Connected
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 3
  • Assessor Parcel Number 01-00049 05-00003

Community Details

Overview

  • No Home Owners Association
  • Avalon Boro Subdivision

Recreation

  • Fishing Allowed

Security

  • 24-Hour Security

Home Details

Home Type

Single Family

Est. Annual Taxes

$31,901

Year Built

Built in 2006

Lot Details

0

Parking

3

Listing Details

  • Property Type: Residential
  • Structure Type: Detached
  • Architectural Style: Coastal
  • Accessibility Features: 2+ Access Exits, 36"+ Wide Halls, Elevator
  • Ownership: Fee Simple
  • Historic: No
  • Home Warranty: No
  • Inclusions: All Appliances, Furnishings and carpeting as shown
  • New Construction: No
  • Story List: Lower 1, Main, Upper 1
  • Federal Flood Zone: Yes
  • Year Built: 2006
  • Automatically Close On Close Date: No
  • Remarks Public: Live the life in Avalon in this one-of-a-kind three story bright & open 7,697 sq. ft. bayfront property with unobstructed water and sunset views on an oversized 90 x 290 lot. This luxurious home not only provides bayfront living at its best, but is just steps to a beach path that leads to the exclusive Avalon high dune beach allowing the best of the bay and the beach. Experience the bayfront lifestyle including swimming, boating jet skiing and never-ending water and sunset views. Your outside exquisite living does not end with the bay and beach. You will find a large heated salt water pool surrounded by Travertine paving that includes an Infinity Jacuzzi. The dock has electrical power and all modern LED accent lighting and leads to a floating dock which can accommodate a 55 or larger yacht. There is also room for wave runners or another small boat. In addition there is an expansive deck overlooking the pool, dock and bay. Three car oversized attached garage with inside access as well as a large paved driveway which can accommodate up to 6 cars. Exquisite landscaping. Double walnut entry doors. Floor to ceiling windows, open floor plan and bay views. Expansive family/theater room with surround sound, gas fireplace and travertine flooring. Additional entertainment room with mahogany built-in wet bar and travertine radiant heated flooring, two cooling drawers, wine cooler, dishwasher and a bar storage closet. Also, on the first floor are two large well designed ensuite bedrooms, powder room, bar area and laundry room. Walnut stairs and Concord elevator to the second floor. The second floor has the open great room with living and dining areas and an eat-in-kitchen. Living room: cathedral ceilings, cherry hardwood flooring, and natural gas fireplace. Gourmet chef kitchen with a huge center island and lovely granite counter tops; Plenty of cabinet space, and a sub-zero refrigerator, gas Wolf Stove with a grill to use inside for those rainy or winter days, two dishwashers, wine cooler, heating drawer and two sub-zero cooling drawers, a separate ice-maker and much more. There are also two additional ensuite bedrooms on this floor. Third floor exquisite master suite with gas fire place, two walk-in closets, oversized bathroom with Jacuzzi tub and large glass steam shower. Relax on your private terrace with a cabana and experience the breathtaking sunset views. Rarely offered roof top deck allows you to enjoy panoramic views of the coastline, high dunes, and annual fireworks. This floor is completed with an office and a gym with water views.Multi-zoned gas heat and central air; surround sound in master bedroom, family and theatre room on the first floor. The pool area as well as floor on the exterior has speakers with a high quality sound system. The home also comes fully furnished for a full turn-key purchase.Built in 2006 there has been only one owner. It has never been rented and has been updated over the ownership period including modern furniture all of which is meticulously maintained. A bayfront home of this size and design with so many amenities rarely ever comes on the market. Furthermore, it is being offered at just $908 per square foot which is well below the market value of others. Factor in the open bay views and a huge lot of 90 x 290 along with all the other amenities makes this home one you must consider. Call today for a showing and take advantage of the opportunity. One of the owners is a licensed NJ Real Estate Agent.
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Appliances: Built-In Microwave, Built-In Range, Central Vacuum, Commercial Range, Cooktop, Dishwasher, Disposal, Dryer, Dryer - Gas, Energy Efficient Appliances, Exhaust Fan, Extra Refrigerator/Freezer, Icemaker, Indoor Grill, Microwave, Oven - Self Cleaning, Oven/Range - Gas, Refrigerator, Six Burner Stove, Trash Compactor, Washer, Water Heater
  • Flooring Type: Carpet, Hardwood, Heated, Marble, Tile/Brick, Wood
  • Interior Amenities: Bar, Breakfast Area, Built-Ins, Ceiling Fan(s), Central Vacuum, Carpet, Dining Area, Curved Staircase, Elevator, Entry Level Bedroom, Family Room Off Kitchen, Floor Plan - Open, Kitchen - Eat-In, Kitchen - Gourmet, Kitchen - Island, Kitchen - Table Space, Primary Bath(s), Primary Bedroom - Bay Front, Pantry, Recessed Lighting, Soaking Tub, Sprinkler System, Stall Shower, Tub Shower, Walk-In Closet(s), Wet/Dry Bar, Whirlpool/Hottub, Window Treatments, Wine Storage, Wood Floors
  • Window Features: Energy Efficient, Insulated, Sliding
  • Fireplace Features: Gas/Propane
  • Fireplaces Count: 2
  • Fireplace: Yes
  • Door Features: Double Entry, Sliding Glass
  • Elevators Count: 1
  • Wall Ceiling Types: Cathedral Ceilings, Dry Wall, Vaulted Ceilings
  • Foundation Details: Crawl Space, Flood Vent, Slab
  • Levels Count: 3
  • Room Count: 14
  • Room List: Living Room, Dining Room, Primary Bedroom, Bedroom 2, Bedroom 3, Bedroom 4, Kitchen, Den, Bedroom 1, Exercise Room, Great Room, Laundry, Office, Bathroom 1, Bathroom 2, Bathroom 3, Primary Bathroom, Additional Bedroom
  • Basement: No
  • Laundry Type: Lower Floor
  • Total Sq Ft: 7697
  • Living Area Sq Ft: 7697
  • Price Per Sq Ft: 857.35
  • Above Grade Finished Sq Ft: 7697
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 5024

Beds/Baths

  • Bedrooms: 6
  • Main Level Bedrooms: 2
  • All Lower Level Bedrooms: 2
  • Lower Level Bedroom: 2
  • Total Bathrooms: 7
  • Full Bathrooms: 5
  • Half Bathrooms: 2
  • Main Level Bathrooms: 3.00
  • Upper Level Bathrooms: 1
  • Lower Levels Bathrooms: 3
  • Upper Level Bathrooms: 1.00
  • Lower Levels Bathrooms: 3.00
  • Main Level Full Bathrooms: 2
  • Upper Level Full Bathrooms: 1
  • Lower Level Full Bathrooms: 2
  • Lower Level Full Bathrooms: 2
  • Main Level Half Bathrooms: 1
  • Lower Level Half Bathroom: 1
  • Lower Level Half Bathrooms: 1

Exterior Features

  • Other Structures: Above Grade
  • Other Structures List: Garage(s)
  • Construction Materials: Stucco
  • Exterior Features: Bbq Grill, Extensive Hardscape, Exterior Lighting, Flood Lights, Hot Tub, Lawn Sprinkler, Outside Shower, Play Area, Secure Storage, Sidewalks, Street Lights, Underground Lawn Sprinkler
  • Pool Features: Gunite, Heated, In Ground, Saltwater, Pool/Spa Combo
  • Road Surface Type: Black Top
  • Roof: Shingle, Pitched
  • Spa: No
  • View: Bay, Water
  • Water Access Features: Boat - Powered, Fishing Allowed, Canoe/Kayak, Personal Watercraft (PWC), Swimming Allowed
  • Water Access: Yes
  • Water Body Name: Bay
  • Water Body Type: Bay
  • Waterfront: Yes
  • Water Oriented: Yes
  • Pool: Yes - Personal
  • Tidal Water: Yes
  • Water View: Yes
  • Water Frontage In Feet: 90

Garage/Parking

  • Garage Spaces: 3.00
  • Garage: Yes
  • Open Parking Spaces Count: 6
  • Parking Features: Lighted Parking, Stone Driveway
  • Garage Features: Garage - Front Entry, Garage Door Opener, Inside Access, Oversized
  • Attached Garage Spaces: 3
  • Total Garage And Parking Spaces: 3
  • Type Of Parking: Attached Garage, Driveway, Off Street, On Street

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C, Ceiling Fan(s), Multi Units, Zoned
  • Electric Service: 220 Volts
  • Heating Fuel: Natural Gas
  • Heating Type: Forced Air, Radiant
  • Heating: Yes
  • Hot Water: Natural Gas
  • Security: 24 Hour Security, Carbon Monoxide Detector(s), Exterior Cameras, Fire Detection System, Main Entrance Lock, Security System, Smoke Detector
  • Sewer/Septic System: Public Sewer
  • Utilities: Above Ground, Cable Tv, Electric Available, Natural Gas Available, Phone, Phone Connected, Sewer Available, Water Available
  • Water Source: Public
  • Municipal Trash: Yes

Condo/Co-op/Association

  • Condo Co-Op Association: No
  • HOA: No
  • Senior Community: No
  • Association Recreation Fee: No

Fee Information

  • Loss Mitigation Fee?: No

Schools

  • School District: AVALON PUBLIC SCHOOLS
  • Elementary School: AVALON
  • Middle School: AVALON
  • Elementary School Source: Listing Agent
  • Middle School Source: Listing Agent
  • School District Key: 300200397000
  • School District Source: Listing Agent
  • Elementary School: AVALON
  • Middle Or Junior School: AVALON

Lot Info

  • Horses: No
  • Additional Parcels: No
  • Fencing: Decorative, Rear
  • Lot Features: Bulkheaded, Flood Plain, Front Yard, Landscaping, Level, No Thru Street, Poolside, Rear Yard, Road Frontage, Sideyard(s), Tidal Wetland
  • Lot Size Acres: 0.60
  • Lot Dimensions: 90 x 290
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 26100.00
  • Outdoor Living Structures: Balcony, Deck(s), Patio(s), Porch(es), Roof
  • Property Condition: Good
  • Soil Types: Unknown
  • Year Assessed: 2019
  • Zoning: RESIDENTIAL
  • Zoning Description: Single Family residential

Green Features

  • Clean Green Assessed: No

Rental Info

  • Furnished: Yes
  • Ground Rent Exists: No
  • Lease Considered: No
  • Pets: No Pet Restrictions
  • Pets Allowed: Yes
  • Vacation Rental: No
  • Property Manager: No

Multi Family

  • Federal Flood Zone: A
  • Waterfront Features: Riparian Grant, Private Dock Site

Tax Info

  • Assessor Parcel Number: 3745588
  • Tax Annual Amount: 31901.01
  • Assessor Parcel Number: 01-00049 05-00003
  • Tax Lot: 3
  • Tax Year: 2020
  • Close Date: 12/18/2020

MLS Schools

  • School District Name: AVALON PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 28, 2024
Sold by
Russomano Frank C and Russomano Aimee S
Bought by
Russomoments Llc
Current Estimated Value
$9,138,949

Purchase Details

Closed on
May 25, 2022
Sold by
Russomano Frank C and Russomano Aimee S
Bought by
Russomano Frank C and Russomano Aimee S

Purchase Details

Listed on
Feb 9, 2020
Closed on
Dec 18, 2020
Sold by
Morrow William J
Bought by
Russomano Frank C and Russomao Aimee S
Seller's Agent
Michael Mavromates
Long & Foster Real Estate, Inc.
Buyer's Agent
datacorrect BrightMLS
Non Subscribing Office
List Price
$6,599,000
Sold Price
$6,400,000
Premium/Discount to List
-$199,000
-3.02%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.99%

Purchase Details

Closed on
Sep 28, 2001
Sold by
Oglesby Alma D
Bought by
Morrow William J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
6.93%
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

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
Russomoments Llc -- None Listed On Document
Russomano Frank C -- Laughlin Kathryn M
Russomano Frank C $6,400,000 None Available
Morrow William J $1,649,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Morrow William J $2,580,000
Previous Owner Morrow William J $2,764,000
Previous Owner Morrow William J $2,789,000
Previous Owner Morrow William J $2,866,000
Previous Owner Morrow William J $250,000
Previous Owner Morrow William J $3,728,000
Previous Owner Morrow William J $500,000
Previous Owner Morrow William J $1,000,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/18/2020 12/18/20 Sold $6,400,000 -3.0% $831 / Sq Ft
11/11/2020 11/11/20 Pending -- -- --
11/02/2020 11/02/20 For Sale $6,599,000 0.0% $857 / Sq Ft
08/20/2020 08/20/20 Pending -- -- --
07/24/2020 07/24/20 Price Changed $6,599,000 -5.6% $857 / Sq Ft
02/09/2020 02/09/20 For Sale $6,990,000 -- $908 / 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
2024 $59,273 $9,653,600 $2,587,500 $7,066,100
2023 $15,758 $2,587,500 $2,587,500 $0
2022 $14,697 $2,587,500 $2,587,500 $0
2021 $34,215 $6,255,100 $2,587,500 $3,667,600
2020 $32,902 $6,255,100 $2,587,500 $3,667,600
2019 $31,901 $6,255,100 $2,587,500 $3,667,600
2018 $30,525 $6,255,100 $2,587,500 $3,667,600
2017 $24,232 $4,358,300 $2,556,200 $1,802,100
2016 $23,971 $4,358,300 $2,556,200 $1,802,100
2015 $23,578 $4,358,300 $2,556,200 $1,802,100
2014 $23,317 $4,358,300 $2,556,200 $1,802,100
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
See All Agents

Map

Source: Bright MLS

MLS Number: NJCM103900

Bright MLS

APN: 01-00049-05-00003