Gregory R Sundermann & Jessica L Sundermann Acquire Other Residential Property In Scotch Plains, NJ For $1.23M
SOLD
$1,230,000
New Jersey
See Similar DealsCo-Op
Sold 03/10/2022
SOLD
Gregory R Sundermann & Jessica L Sundermann Acquire Other Residential Property In Scotch Plains, NJ For $1.23M
1 Norwegian Wood, Scotch Plains, New Jersey 07076, United States
See Similar DealsCo-Op
Sold 03/10/2022
Summary
NEW JERSEY
Asset Type:Co-Op
Transaction Type:Sale
1 Norwegian Woods in Scotch Plains, NJ has been sold in a recent transaction. The property, classified as Other Residential, was bought by Gregory R Sundermann & Jessica L Sundermann for the price of $1,230,000. The seller of the property was Messercola Bros Building Co Inc.
Summary of transaction details:
- Property Type: Other Residential
- Transaction Amount: $1,230,000
- Address: 1 Norwegian Woods, Scotch Plains, NJ
- Buyer: Gregory R Sundermann & Jessica L Sundermann
- Seller: Messercola Bros Building Co Inc
The deal involved the acquisition of 1 Norwegian Woods by Gregory R Sundermann & Jessica L Sundermann from the seller, Messercola Bros Building Co Inc. This successful transaction further highlights the active real estate market in Scotch Plains, NJ.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$65,599.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,369.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,830.83
Annual Debt Service$69,969.93
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