NOT LISTED FOR SALE

517 N Indiana Ave Atlantic City, NJ 08401

Monroe Park Neighborhood

Estimated Value: $362,000 - $426,000

-- Bed
-- Bath
2,702 Sq Ft
$147/Sq Ft Est. Value

Last Sold July 31, 2023

Last sale price $330,000 $122 Per Sq Ft

Est. 21% increase in value since last sale

Current estimated payment $2,730/month

69 Days on Market

About This Home

As of July 2023

Great investment with amazing cash flow!! The property has been completely renovated in the past two years and has newer heating, plumbing, roof, electric, kitchen, bath, siding, and more. Tenant occupied (all tenants paying on time) One 2BR unit is currently vacant as of 6.30.23. Features 3 conforming units, one 3br 2ba and two 2br1ba. All units are metered separately, have occupancy permits, and are in good condition. COCR ROI 17.63%, NOI $39,973, Cap rate 11.79%

Last Agent to Sell the Property

Georgeanna Newmones

eXp Realty-Atlantic City Listed on: 05/03/2023

eXp Realty-Atlantic City

Last Buyer's Agent

Michael J. Lerman

REALTY MARK ADVANTAGE

REALTY MARK ADVANTAGE

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,787

Year Built

  • Built in 1900

Lot Details

  • Lot Dimensions are 18x76

Parking

  • Off-Site Parking

Home Design

  • Triplex
  • Brick Exterior Construction
  • Slab Foundation
  • Vinyl Siding

Kitchen

  • Stove
  • Dishwasher

Utilities

  • Baseboard Heating
  • Heating System Uses Natural Gas
  • Separate Meters

Community Details

  • 3 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,787

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Class: Multi-Family
  • Type: Triplex
  • Lvt Date: 05/09/2023
  • Year Built: 1900
  • Age: 25+ Years
  • Allow Comsumer Comment: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Dishwasher, Gas Stove, Refrigerator
  • Basement: Slab

Exterior Features

  • Outside Features: Curbs, Sidewalks
  • Siding Exterior: Brick, Vinyl

Garage/Parking

  • Parking Exterior: Off Site Parking

Utilities

  • Heating: Baseboard, Gas-Natural
  • Sewer: Public Sewer
  • Water: Public

Lot Info

  • Lot Dimensions: 18x76

Rental Info

  • Rental Information: 100 Percent Occupancy, Security Deposit, Yearly

Multi Family

  • Number Of Units: 3
  • Number Of2 Bedroom Units: 2
  • Number Of3 Bedroom Units: 1
  • Separate Meters: Electric, Heat

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 3, 2023
Closed on
Jul 31, 2023
Sold by
517 N Indiana Avenue Llc
Bought by
517Nindian3 Llc
Seller's Agent
Georgeanna Newmones
eXp Realty-Atlantic City
Buyer's Agent
Michael J. Lerman
REALTY MARK ADVANTAGE
List Price
$339,900
Sold Price
$330,000
Premium/Discount to List
-$9,900
-2.91%
Views
157
Current Estimated Value
$398,011

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$68,011
Avg. Annual Appreciation
9.43%
Original Mortgage
$494,570
Outstanding Balance
$484,434
Interest Rate
6.9%
Mortgage Type
New Conventional
Estimated Equity
-$86,423

Purchase Details

Listed on
Jul 20, 2021
Closed on
Aug 11, 2021
Sold by
Mtglq Investors Lp
Bought by
517 N Indiana Avenue Llc
Seller's Agent
Mark Branco
CENTURY 21 ATLANTIC PROFESSIONAL REALTY
Buyer's Agent
Nicolas Gaspari
Soleil Sotheby's International Realty - A
List Price
$92,500
Sold Price
$82,500
Premium/Discount to List
-$10,000
-10.81%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
105.09%

Purchase Details

Closed on
Oct 2, 2020
Sold by
Brown Russel P and Brown Kim
Bought by
Mtglq Investors Lp

Purchase Details

Closed on
Dec 20, 2004
Sold by
Wesley Clarence
Bought by
Brown Russel

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$168,750
Interest Rate
5.75%
Mortgage Type
Stand Alone First
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
517Nindian3 Llc $330,000 Surety Title
517 N Indiana Avenue Llc $82,500 Servicelink
Mtglq Investors Lp -- Servicelink
Brown Russel $225,000 --
Brown Russel $225,000 --
Brown Russell $225,000 The Title Company Of Jersey
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 517Nindian3 Llc $494,570
Closed 517Nindian3 Llc $445,500
Previous Owner -- $161,000
Previous Owner Brown Russell $210,000
Previous Owner Brown Russell P $210,000
Previous Owner Brown Russell $168,750
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/31/2023 07/31/23 Sold $330,000 -2.9% $122 / Sq Ft
07/26/2023 07/26/23 Price Changed $339,900 +1.5% $126 / Sq Ft
07/11/2023 07/11/23 Pending -- -- --
06/29/2023 06/29/23 Price Changed $334,900 -1.5% $124 / Sq Ft
05/03/2023 05/03/23 For Sale $339,900 0.0% $126 / Sq Ft
07/25/2022 07/25/22 Rented -- -- --
05/16/2022 05/16/22 Price Changed $1,250 -7.4% $0 / Sq Ft
03/16/2022 03/16/22 For Rent $1,350 0.0% --
08/27/2021 08/27/21 Sold $82,500 -10.8% $31 / Sq Ft
08/04/2021 08/04/21 Pending -- -- --
07/20/2021 07/20/21 For Sale $92,500 -- $34 / Sq Ft
Source: South Jersey Shore Regional 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 $6,787 $196,600 $20,500 $176,100
2024 $6,787 $196,600 $20,500 $176,100
2023 $4,510 $119,400 $20,500 $98,900
2022 $4,510 $119,400 $20,500 $98,900
2021 $4,658 $119,400 $20,500 $98,900
2020 $4,697 $119,400 $20,500 $98,900
2019 $4,183 $105,000 $50,000 $55,000
2018 $3,710 $105,000 $50,000 $55,000
2017 $3,592 $105,000 $50,000 $55,000
2016 $4,053 $105,000 $50,000 $55,000
2015 $3,593 $105,000 $50,000 $55,000
2014 $3,515 $105,000 $50,000 $55,000
Source: Public Records

Agents Affiliated with this Home

  • Georgeanna Newmones

    Seller's Agent in 2023

    Georgeanna Newmones

    eXp Realty-Atlantic City

    (609) 710-5550

    21 in this area

    248 Total Sales

    Georgeanna Newmones
    Section Image

  • M

    Buyer's Agent in 2023

    Michael J. Lerman

    REALTY MARK ADVANTAGE

    (732) 921-2991

    1 in this area

    17 Total Sales

    Michael J. Lerman
    Section Image
  • Yahanne Abdullah

    Seller Co-Listing Agent in 2022

    Yahanne Abdullah

    eXp Realty-Atlantic City

    (609) 906-0622

    10 Total Sales

    Yahanne Abdullah
    Section Image

  • M

    Seller's Agent in 2021

    Mark Branco

    CENTURY 21 ATLANTIC PROFESSIONAL REALTY

    (609) 377-4627

    1 in this area

    33 Total Sales

    Mark Branco
    Section Image
  • Nicolas Gaspari

    Buyer's Agent in 2021

    Nicolas Gaspari

    Solei SIR Margate

    (856) 885-3792

    1 in this area

    60 Total Sales

    Nicolas Gaspari
    Section Image
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Map

Source: South Jersey Shore Regional MLS

MLS Number: 573812

South Jersey Shore Regional MLS

APN: 02-00511-0000-00007

New Jersey Atlantic County Atlantic City 08401 Monroe Park

517 N Indiana Ave, Atlantic City, NJ

This home is located at 517 N Indiana Ave, Atlantic City, NJ 08401 since 03 May 2023 and is currently estimated at $398,011, approximately $147 per square foot. This property was built in 1900. 517 N Indiana Ave is a home located in Atlantic County with nearby schools including New York Avenue School, Atlantic City High School, and New Hope Christian Academy/Robinson Small Learning Center.

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.

South Jersey Shore Regional MLS 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.
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