NOT LISTED FOR SALE

516 Asbury Ave Asbury Park, NJ 07712

Estimated Value: $983,000 - $1,054,874

5 Beds
3 Baths
2,160 Sq Ft
$472/Sq Ft Est. Value

Last Sold July 19, 2024

Last sale price $985,000 $456 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $6,727/month

29 Days on Market

Highlights

  • Cooling Available
  • Baseboard Heating
  • 3-minute walk to Library Square Park
  • Forced Air Heating System

About This Home

As of July 2024

Now available for purchase is this legal three family home just four blocks to the boardwalk and close to the downtown entertainment area & public transit. The property consists of a large two bedroom unit and a studio unit with separate sleeping area on the ground level, plus a huge three bedroom home on the entire second floor. There is a large covered porch along with a generous sized backyard. Each apartment has separate gas and electric service. This is a beautiful tree lined block and close to everything.

Last Agent to Sell the Property

Travis Newarski

Space & Company License #1007962 Listed on: 05/16/2024

Co-Listed By

Kenneth Rickel

Space & Company License #0893268

Last Buyer's Agent

Travis Newarski

Space & Company License #1007962 Listed on: 05/16/2024

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,994

Year Built

  • Built in 1920

Lot Details

  • 3,485 Sq Ft Lot
  • Lot Dimensions are 33 x 100

Home Design

  • Triplex
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 2,160 Sq Ft Home
  • Partial Basement

Parking

  • No Garage
  • On-Street Parking

Utilities

  • Cooling Available
  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Furnace
  • Baseboard Heating
  • Separate Meters
  • Electric Water Heater

Listing and Financial Details

  • Exclusions: Tenants Possessions
  • Tenant pays for hot water, gas, electricity
  • The owner pays for yard maintenance, water, sewer
  • Assessor Parcel Number 04-03201-0000-00002

Community Details

Overview

  • 3 Units

Building Details

  • Insurance Expense $2,741
  • Water Sewer Expense $1,256
  • Gross Income $68,580
  • Net Operating Income $51,589

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,994

Year Built

Built in 1920

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Three Family
  • Co List Office Mls Id: 3843
  • Co List Office Phone: 732-776-7078
  • Subdivision Name: None
  • Year Built: 1920
  • General Property Info Waterview: No
  • General Property Info Basement: Yes
  • General Property Info Pool: No
  • WaterSewer Public Sewer: Yes
  • General Property Info Lot Dimensions: 33 x 100
  • Water Heater Electric2: Yes
  • Roof Shingled: Yes
  • WaterSewer Public Water: 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 Water Heater2: Yes
  • Unit 1 Furnace: Yes
  • Income Expenses Insurance Expense: 2741.0
  • Income Expenses WaterSewer Expense: 1256.0
  • Income Expenses Gross Income2: 68580.0
  • Income Expenses Net Income: 51589.0
  • Special Features: None

Interior Features

  • Basement: Partial
  • Basement: Yes
  • Basement:Partial: Yes

Exterior Features

  • Roof: Shingle
  • Acres: 0.08
  • Waterfront: No
  • Exclusions: Tenants Possessions
  • Construction:Siding - Vinyl: Yes

Garage/Parking

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

Utilities

  • Sewer: Public Sewer
  • Cooling: Other
  • Cooling Y N: Yes
  • Heating: Forced Air, Baseboard
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Natural Gas: Yes
  • Heating:Forced Air: Yes
  • Heating:Baseboard: Yes

Fee Information

  • Annual Water Sewer Expense: 1256.0

Lot Info

  • Lot Dimensions: 33 x 100
  • Lot Size Sq Ft: 3484.8
  • ResoLotSizeUnits: Acres
  • Parcel #: 04-03201-0000-00002
  • Zoning Description: Residential, Multi-Family
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: Hot Water, Gas, Electricity
  • Owner Pays: Yard Maintenance, Water, Sewer

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 12994.0
  • Tax Other Annual Assessment Amount: 840500.0

Multi Family

  • Number Of Units Total: 3
  • Annual Gross Income: 68580.0
  • Insurance Expense: 2741.0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 16, 2024
Closed on
Aug 9, 2024
Sold by
Bascio Claire E and Smith Claire E
Bought by
Panesso George H and Panesso Laura L
Seller's Agent
Travis Newarski
Space & Company
Buyer's Agent
Travis Newarski
Space & Company
List Price
$995,000
Sold Price
$985,000
Premium/Discount to List
-$10,000
-1.01%
Views
15
Current Estimated Value
$1,019,469

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$34,469
Avg. Annual Appreciation
3.15%
Original Mortgage
$738,750
Outstanding Balance
$731,041
Interest Rate
6.86%
Mortgage Type
New Conventional
Estimated Equity
$288,428

Purchase Details

Closed on
Feb 19, 2015
Sold by
Kondaur Capital Corp
Bought by
Bascio Claire E

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$321,021
Interest Rate
4.5%
Mortgage Type
FHA

Purchase Details

Closed on
Dec 5, 2013
Sold by
Aguilar Florencio and Aguilar Cerenia
Bought by
Kondaur Capital Corp

Purchase Details

Closed on
Jul 13, 2010
Sold by
Rothert William and Rothert Francoise J
Bought by
Aguilar Florencio and Aguilar Cerenia

Purchase Details

Closed on
Dec 2, 2002
Sold by
Rdr Properties Inc
Bought by
Rothert William and Rothert Francoise

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
5.88%
Mortgage Type
Commercial
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
Panesso George H $985,000 Trident Abstract Title
Bascio Claire E -- Chicago Title Co Llc
Kondaur Capital Corp -- Chicago Title Co Llc
Aguilar Florencio $380,000 Stewart Title Guaranty
Rothert William $240,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Panesso George H $738,750
Previous Owner Bascio Claire E $405,000
Previous Owner Bascio Claire $318,374
Previous Owner Bascio Claire E $321,021
Previous Owner Rothert William $160,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/19/2024 07/19/24 Sold $985,000 -1.0% $456 / Sq Ft
06/14/2024 06/14/24 Pending -- -- --
05/16/2024 05/16/24 For Sale $995,000 -- $461 / 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
2025 $14,062 $953,000 $568,100 $384,900
2024 $12,994 $888,900 $485,500 $403,400
2023 $12,994 $840,500 $349,500 $491,000
2022 $10,019 $737,400 $291,200 $446,200
2021 $10,019 $634,100 $264,700 $369,400
2020 $9,111 $578,500 $250,000 $328,500
2019 $8,960 $543,000 $238,100 $304,900
2018 $8,197 $460,000 $189,700 $270,300
2017 $8,420 $404,800 $183,000 $221,800
2016 $6,711 $313,000 $178,000 $135,000
2015 $6,963 $314,500 $183,000 $131,500
2014 $7,550 $348,400 $208,000 $140,400
Source: Public Records

Agents Affiliated with this Home

  • Travis Newarski

    Seller's Agent in 2024

    Travis Newarski

    Space & Company

    (973) 985-5032

    5 in this area

    19 Total Sales

    Travis Newarski
    Section Image
  • Kenneth Rickel

    Seller Co-Listing Agent in 2024

    Kenneth Rickel

    Space & Company

    (732) 245-4833

    72 in this area

    103 Total Sales

    Kenneth Rickel
    Section Image
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Map

Source: MOREMLS (Monmouth Ocean Regional REALTORS®)

MLS Number: 22413696

MOREMLS (Monmouth Ocean Regional REALTORS®)

APN: 04-03201-0000-00002

New Jersey Monmouth County Asbury Park 07712

516 Asbury Ave, Asbury Park, NJ

This home is located at 516 Asbury Ave, Asbury Park, NJ 07712 since 16 May 2024 and is currently estimated at $1,019,469, approximately $471 per square foot. This property was built in 1920. 516 Asbury Ave is a home located in Monmouth County with nearby schools including Asbury Park High School, Hope Academy Charter School, and Our Lady of Mount Carmel 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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