NOT LISTED FOR SALE

514 Passaic Ave Spring Lake, NJ 07762

Estimated Value: $1,387,000 - $2,024,000

4 Beds
4 Baths
1,660 Sq Ft
$1,052/Sq Ft Est. Value

Last Sold October 18, 2021

Last sale price $1,500,000 $904 Per Sq Ft

Est. 16% increase in value since last sale

Current estimated payment $10,301/month

7 Days on Market

Highlights

  • Recessed Lighting
  • Zoned Heating
  • Level Lot

About This Home

As of October 2021

Legal two family Income producing property in desirable Spring Lake.Current tenants are on annual leases but this would be a perfect setup for two Seasonal rentals. Both units have 2 Bedrooms and 1 1/2 Baths. Kitchen, Living Room and Mud Room/Office on first level. 2 Bedrooms and Full Bath on second level. Full BasementThis property is located on the dead end side of Passaic Avenue............with some large beautiful newly constructed homes surrounding.

Last Agent to Sell the Property

Marlene Mango

Diane Turton, Realtors-Brick License #7855216 Listed on: 08/03/2021

Diane Turton, Realtors-Brick

Last Buyer's Agent

Carmella Gerard

Chris Smith Realty License #1864632

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,234

Year Built

  • Built in 1900

Lot Details

  • 7,405 Sq Ft Lot
  • Lot Dimensions are 50 x 150
  • Street terminates at a dead end
  • Level Lot

Home Design

  • Duplex
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 2-Story Property
  • Recessed Lighting
  • Basement Fills Entire Space Under The House
  • Stove

Bedrooms and Bathrooms

  • 4 Bedrooms

Parking

  • No Garage
  • Off-Street Parking

Schools

  • H. W. Mountz Elementary And Middle School
  • St. Rose High School

Utilities

  • Zoned Heating
  • Heating System Uses Natural Gas
  • Furnace
  • Separate Meters
  • Separate Water Meter
  • Natural Gas Water Heater
  • Cable TV Available

Community Details

  • 2 Units
  • Gross Income $38,040

Listing and Financial Details

  • Exclusions: Any appliances and other items where owned by the Tenants
  • Tenant pays for water, sewer, heat, gas, electricity
  • Assessor Parcel Number 47-00071-0000-00012

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,234

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Duplex
  • ResoLotFeatures: Dead End Street, Level
  • Subdivision Name: None
  • Reso Flooring: Linoleum/Vinyl, W/W Carpet
  • Reso Interior Features: Cable TV, Recessed Lighting
  • New Construction: No
  • Year Built: 1900
  • Contract Info New Construction: No
  • General Property Info Waterview: No
  • General Property Info Fireplace: No
  • General Property Info Basement: Yes
  • General Property Info Pool: No
  • WaterSewer Public Sewer: Yes
  • General Property Info Lot Dimensions: 50 x 150
  • Location Middle School: H. W. Mountz
  • Roof Shingled: Yes
  • WaterSewer Public Water: Yes
  • Water Heater Natural Gas2: Yes
  • General Property Info Handicap Access: No
  • Interior Recessed Lighting: Yes
  • Lot Description Dead End Street: Yes
  • Garage None4: Yes
  • Unit 1 Electric Meter: Yes
  • Unit 1 Gas Meter3: Yes
  • Unit 1 Water Heater: Yes
  • Unit 2 Electric Meter2: Yes
  • Unit 2 Furnace2: Yes
  • Unit 2 Water Heater2: Yes
  • Unit 1 Furnace: Yes
  • Cooling Single Zone Heat: Yes
  • Income Expenses Gross Income2: 38040.0
  • Unit 1 Gas Stove: Yes
  • Unit 2 Water Meter2: Yes
  • Unit 1 Water Meter3: Yes
  • Unit 2 Gas Stove2: Yes
  • Special Features: None

Interior Features

  • Basement: Full
  • Basement: Yes
  • Full Bathrooms: 2
  • Half Bathrooms: 2
  • Total Bedrooms: 4
  • Stories: 2
  • Full Basement: Yes
  • Features Interior:Cable TV: Yes

Exterior Features

  • Roof: Shingle
  • Acres: 0.17
  • Waterfront: No
  • Exclusions: Any appliances and other items where owned by the Tenants
  • Construction:Siding - Vinyl: Yes

Garage/Parking

  • Garage: No
  • Attached Garage: No
  • Parking Features: Off Street, None
  • General Property Info:Garage: No
  • ParkingOffStreet: Yes

Utilities

  • Sewer: Public Sewer
  • Heating: HWBB
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Natural Gas: Yes

Schools

  • Middle Or Junior School: H. W. Mountz

Lot Info

  • Lot Dimensions: 50 x 150
  • Lot Size Sq Ft: 7405.2
  • ResoLotSizeUnits: Acres
  • Parcel #: 47-00071-0000-00012
  • Zoning Description: Residential
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: Water, Sewer, Heat, Gas, Electricity

Tax Info

  • Tax Year: 2020
  • Tax Annual Amount: 5234.0
  • Tax Other Annual Assessment Amount: 846900.0

Multi Family

  • Number Of Units Total: 2
  • Annual Gross Income: 38040.0

MLS Schools

  • Elementary School: H. W. Mountz
  • High School: St. Rose High

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 3, 2021
Closed on
Oct 4, 2021
Sold by
Nikola Kenneth F and Estate Of Lawrence E Nikola
Bought by
Slomienski Michael and Slomienski Melissa
Seller's Agent
Marlene Mango
Diane Turton, Realtors-Brick
Buyer's Agent
Carmella Gerard
Chris Smith Realty
List Price
$1,599,999
Sold Price
$1,500,000
Premium/Discount to List
-$99,999
-6.25%
Total Days on Market
7
Current Estimated Value
$1,745,681

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$245,681
Avg. Annual Appreciation
4.23%
Original Mortgage
$1,100,000
Outstanding Balance
$1,009,914
Interest Rate
2.5%
Mortgage Type
New Conventional
Estimated Equity
$735,767
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
Slomienski Michael $1,500,000 Property Transfer Svcs Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Slomienski Michael $1,100,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/18/2021 10/18/21 Sold $1,500,000 -6.2% $904 / Sq Ft
08/10/2021 08/10/21 Pending -- -- --
08/02/2021 08/02/21 For Sale $1,599,999 -- $964 / 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 $6,581 $1,511,400 $1,378,000 $133,400
2023 $6,581 $1,308,300 $1,178,000 $130,300
2022 $5,228 $1,176,100 $1,052,000 $124,100
2021 $5,228 $871,300 $759,000 $112,300
2020 $5,234 $846,900 $739,000 $107,900
2019 $5,227 $829,700 $725,000 $104,700
2018 $5,195 $827,300 $725,000 $102,300
2017 $5,144 $821,700 $725,000 $96,700
2016 $5,619 $822,700 $662,900 $159,800
2015 $5,627 $806,200 $646,400 $159,800
2014 $5,390 $785,700 $625,900 $159,800
Source: Public Records

Agents Affiliated with this Home

  • Marlene Mango

    Seller's Agent in 2021

    Marlene Mango

    Diane Turton, Realtors-Brick

    (732) 998-5532

    1 in this area

    101 Total Sales

    Marlene Mango
    Section Image

  • C

    Buyer's Agent in 2021

    Carmella Gerard

    Chris Smith Realty

    (732) 740-1605

    3 in this area

    18 Total Sales

    Carmella Gerard
    Section Image
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Map

Source: MOREMLS (Monmouth Ocean Regional REALTORS®)

MLS Number: 22125510

MOREMLS (Monmouth Ocean Regional REALTORS®)

APN: 47-00071-0000-00012

New Jersey Monmouth County Spring Lake 07762

514 Passaic Ave, Spring Lake, NJ

This home is located at 514 Passaic Ave, Spring Lake, NJ 07762 since 03 August 2021 and is currently estimated at $1,745,681, approximately $1,051 per square foot. This property was built in 1900. 514 Passaic Ave is a home located in Monmouth County with nearby schools including St. Catharine 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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