Updated Dec 19, 2023
Monihan Realty Inc. Sells SFR In Ocean City For $3M
257 Ocean Road, Ocean City, New Jersey 08226, United States
$3,000,000
$1,718/SF
Building Size
1,746 SF
Asset Type
Single Family Residence
Closing
May 1, 2022
About this deal
AI
Located at 257 Ocean Rd in Ocean City, this single-family residential property was recently sold in a closed transaction. The property spans across an area of 1,746 square feet, offering ample space for comfortable living. The transaction took place on May 2, 2022, with a sale price of $3,000,000. This translates to a price per square foot of $1,718.
Summary of transaction details
- Property Type: Single-family residential (SFR)
- Transaction Amount: $3,000,000
- Location: 257 Ocean Rd, Ocean City
- Market: Ocean City
The deal was facilitated by Christopher Monihan of Monihan Realty Inc., who represented the parties involved in the transaction. Christopher's expertise and knowledge of the Ocean City market contributed to the successful completion of the sale.
Ocean City Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93