Berkshire Hathaway HomeServices Acquires SFR In Spring Lake For $6.3M
SOLD
$6,300,000
New Jersey
See Similar DealsSingle Family Residence7,100 SF
Sold 01/26/2021
SOLD
Berkshire Hathaway HomeServices Acquires SFR In Spring Lake For $6.3M
2216 1st Avenue, Spring Lake, NJ, USA
See Similar DealsSingle Family Residence7,100 SF
Sold 01/26/2021
Summary
NEW JERSEY
Asset Type:Single Family Residence
Price Per Square Foot:$887
Total Square Footage:7,100 SF
Transaction Type:Sale
The recently closed property transaction in Spring Lake involved a Single Family Residential (SFR) asset located at 2216 1st Ave. The property spans approximately 7,100 square feet and was sold for a total price of $6,300,000, resulting in a price-per-square-foot (PPSF) value of $887. The transaction took place on January 26, 2021.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $6,300,000
- Square Footage: 7,100
- Price per Square Foot (PPSF): $887
- Address: 2216 1st Ave
- Market: Spring Lake
Patrick Butera from Berkshire Hathaway HomeServices New Jersey Properties represented the buyer in this transaction. On the seller's side, Shawn Clayton from Clayton & Clayton Inc. Realtors acted as the seller's representative. Both parties played a crucial role in facilitating the successful completion of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$336,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57
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