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Vinit Nagda Of EXP Realty Represents Buyer In 1.5 Acre Princeton Land Sale For $1.12M
SOLD
$1,121,585
New Jersey
See Similar DealsLand
Sold 08/08/2024
SOLD
Vinit Nagda Of EXP Realty Represents Buyer In 1.5 Acre Princeton Land Sale For $1.12M
Land
Sold 08/08/2024
Summary
Asset Type:Land
Transaction Type:Sale
13 Prentice Lane is a land asset located in Princeton, covering 1.5 acres. This property was sold for $1,121,585. The land consists of seven wooded lots, approved and ready for development, allowing for custom-built homes on a private cul-de-sac.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $1,121,585
- Address: 13 Prentice Lane
- Market: Princeton
- Acres: 1.5
- Buyer's Representative: Vinit Nagda - EXP Realty
- Seller's Representative: Susan DiMeglio - Callaway Henderson Sotheby's International Realty
This transaction involved Landmark Companies developing the site for custom-built homes. Buyers are allowed to select their own architects and builders for construction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$59,817.86
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,984.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,316.89
Annual Debt Service$63,802.62
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