NOT LISTED FOR SALE

511 Ocean Gate Ave Ocean Gate, NJ 08740

Estimated Value: $455,000 - $525,210

4 Beds
2 Baths
1,600 Sq Ft
$305/Sq Ft Est. Value

Last Sold December 01, 2020

Last sale price $294,900 $184 Per Sq Ft

Est. 66% increase in value since last sale

Current estimated payment $3,318/month

80 Days on Market

Highlights

  • Water Views
  • Oversized Parking
  • Fenced
  • 2 Car Detached Garage
  • Multiple cooling system units
  • Heating Available

About This Home

As of December 2020

If you don't know Ocean Gate yet, now is the time to discover this charming beach town tucked away on the Toms River. This is an excellent and rare opportunity for a multi-family, 2 unit duplex with driveway parking, a 2 car detached garage, large fenced yard on an over sized lot. This is perfect if you're looking for an income producing option, or use one side for a primary or summer home and rent out the other. Located on ''The Avenue'' along with shops, restaurants, post office, an eclectic mix of homes, and only 3 blocks to the yacht club and mile long beach and boardwalk, this property offers 2 bedrooms and 1 bathroom per side. Make your plans to check out this great piece of Ocean Gate real estate today!

Last Agent to Sell the Property

Robert Lange

RE/MAX Gateway License #1329516 Listed on: 09/25/2020

RE/MAX Gateway

Co-Listed By

Marcello Carboni

Coldwell Banker Realty License #1864394

Last Buyer's Agent

Robert Lange

RE/MAX Gateway License #1329516 Listed on: 09/25/2020

RE/MAX Gateway

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,202

Year Built

  • Built in 1970

Lot Details

  • 7,841 Sq Ft Lot
  • Lot Dimensions are 80 x 100
  • Fenced

Parking

  • 2 Car Detached Garage
  • Oversized Parking

Home Design

  • Duplex

Interior Spaces

  • 1,600 Sq Ft Home
  • 1-Story Property
  • Water Views
  • Crawl Space

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Schools

  • Central Regional High School

Utilities

  • Multiple cooling system units
  • Heating Available
  • Natural Gas Water Heater

Community Details

  • 2 Units

Listing and Financial Details

  • Assessor Parcel Number 22-00021-0000-00008

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,202

Year Built

Built in 1970

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Two Family
  • Co List Office Mls Id: 1227
  • Co List Office Phone: 609-693-5002
  • Subdivision Name: None
  • Year Built: 1970
  • General Property Info Waterview: Yes
  • General Property Info Basement: No
  • General Property Info Pool: No
  • WaterSewer Public Sewer: Yes
  • General Property Info Lot Dimensions: 80 x 100
  • ExteriorFence: Yes
  • WaterSewer Public Water: Yes
  • Water Heater Natural Gas2: Yes
  • Garage Oversized: Yes
  • Cooling Multi Units: Yes
  • Special Features: None

Interior Features

  • Basement: Crawl Space
  • Basement: No
  • Full Bathrooms: 2
  • Total Bedrooms: 4
  • Stories: 1
  • Basement:Crawl Space: Yes

Exterior Features

  • Acres: 0.18
  • Waterfront: No
  • Exterior Features: Fence

Garage/Parking

  • Garage: Yes
  • Attached Garage: No
  • Garage Spaces: 2.0
  • Parking Features: Detached, Oversized
  • General Property Info:Garage: Yes
  • Parking Features:Garage Detached: Yes

Utilities

  • Sewer: Public Sewer
  • Cooling: Multi Units
  • Cooling Y N: Yes
  • Heating: Electric BB
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Electric: Yes

Lot Info

  • Lot Dimensions: 80 x 100
  • Lot Size Sq Ft: 7840.8
  • ResoLotSizeUnits: Acres
  • Parcel #: 22-00021-0000-00008
  • Zoning Description: Multi-Family
  • ResoLotSizeUnits: Acres

Tax Info

  • Tax Year: 2019
  • Tax Annual Amount: 6202.0
  • Tax Other Annual Assessment Amount: 236900.0

Multi Family

  • Number Of Units Total: 2

MLS Schools

  • High School: Central Regional

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 25, 2020
Closed on
Dec 1, 2020
Sold by
Brookstone 8 Llc
Bought by
Orluski Melissa and Orluski Stephen
Seller's Agent
Robert Lange
RE/MAX Gateway
Buyer's Agent
Robert Lange
RE/MAX Gateway
List Price
$299,900
Sold Price
$294,900
Premium/Discount to List
-$5,000
-1.67%
Current Estimated Value
$488,553

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$193,653
Avg. Annual Appreciation
11.73%
Original Mortgage
$217,500
Outstanding Balance
$195,739
Interest Rate
2.8%
Mortgage Type
New Conventional
Estimated Equity
$292,814

Purchase Details

Listed on
Apr 30, 2016
Closed on
Jun 13, 2016
Sold by
Us Bank Na
Bought by
Brookstone 8 Llc
Seller's Agent
John Glancy
RE/MAX at Barnegat Bay
Buyer's Agent
John Glancy
Coldwell Banker Flanagan Realty
Sold Price
$140,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
18.36%

Purchase Details

Closed on
Nov 28, 2005
Sold by
Marinelli Daniel B
Bought by
Sheedy Benjamin J and Sheedy Ronald E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$286,900
Interest Rate
4.37%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 26, 2003
Sold by
Hale Lucy
Bought by
Marinelli Daniel

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$173,000
Interest Rate
5.98%
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
Orluski Melissa $294,900 Land Title
Brookstone 8 Llc $140,000 --
Sheedy Benjamin J $302,000 Chicago Title Insurance Co
Marinelli Daniel $176,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Orluski Melissa $217,500
Previous Owner Sheedy Benjamin J $286,900
Previous Owner Marinelli Daniel $173,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/01/2020 12/01/20 Sold $294,900 -1.7% $184 / Sq Ft
10/02/2020 10/02/20 Pending -- -- --
09/25/2020 09/25/20 For Sale $299,900 0.0% $187 / Sq Ft
08/20/2020 08/20/20 Pending -- -- --
07/13/2020 07/13/20 For Sale $299,900 0.0% $187 / Sq Ft
05/17/2019 05/17/19 Rented $16,500 0.0% --
05/15/2019 05/15/19 Rented $16,500 +1122.2% --
05/14/2019 05/14/19 Under Contract -- -- --
11/16/2018 11/16/18 For Rent $1,350 0.0% --
06/30/2016 06/30/16 Sold $140,000 -- $88 / 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 $7,152 $431,400 $188,500 $242,900
2023 $6,588 $236,900 $82,100 $154,800
2022 $6,588 $236,900 $82,100 $154,800
2021 $6,306 $236,900 $82,100 $154,800
2020 $6,356 $236,900 $82,100 $154,800
2019 $6,202 $236,900 $82,100 $154,800
2018 $4,963 $196,400 $82,100 $114,300
2017 $4,926 $196,400 $82,100 $114,300
2016 $4,886 $196,400 $82,100 $114,300
2015 $4,891 $240,000 $122,500 $117,500
2014 $4,913 $240,000 $122,500 $117,500
Source: Public Records

Agents Affiliated with this Home

  • Robert Lange

    Seller's Agent in 2020

    Robert Lange

    RE/MAX

    (609) 693-5002

    65 in this area

    456 Total Sales

    Robert Lange
    Section Image
  • Marcello Carboni

    Seller Co-Listing Agent in 2020

    Marcello Carboni

    Coldwell Banker Realty

    (732) 644-1562

    10 in this area

    120 Total Sales

    Marcello Carboni
    Section Image
  • John Glancy

    Seller's Agent in 2016

    John Glancy

    RE/MAX at Barnegat Bay

    (732) 914-0074

    77 Total Sales

    John Glancy
    Section Image

  • J

    Buyer's Agent in 2016

    John Glancy Jr.

    RE/MAX

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Map

Source: MOREMLS (Monmouth Ocean Regional REALTORS®)

MLS Number: 22023579

MOREMLS (Monmouth Ocean Regional REALTORS®)

APN: 22-00021-0000-00008

New Jersey Ocean County Ocean Gate 08740

511 Ocean Gate Ave, Ocean Gate, NJ

This home is located at 511 Ocean Gate Ave, Ocean Gate, NJ 08740 since 25 September 2020 and is currently estimated at $488,553, approximately $305 per square foot. This property was built in 1970. 511 Ocean Gate Ave is a home located in Ocean County with nearby schools including Ocean Gate Elementary School, Central Regional Middle School, and Central Regional 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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