Updated Oct 28, 2024
Ramesch Broadbelt Acquires SFR In South Orange For $885K
290 North Wyoming Avenue, South Orange, New Jersey 07079, United States
$885,000
$14/SF
Building Size
63,162 SF
Asset Type
Single Family Residence
Closing
Apr 6, 2022
About this deal
AI
Located in South Orange Village, the property at 290 N Wyoming Ave recently changed hands in a closed transaction. The 8-bedroom, 6-bathroom English Tudor home spans 5,000 square feet and sits on a generous 1.45-acre plot of prime land adjacent to the prestigious Orange Lawn Tennis Club. With an estimated market value of $1.95 million, this charming property offers both space and elegance.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $885,000
- Square Footage: 63,162
- Price per Square Foot: $14
- Date of Sale: 04/07/2022
- Market: South Orange
Ramesch Broadbelt, representing Broadbelt CMGC LLC, acquired the property from Washington Mutual Mortgage Securities Corp. The transaction was facilitated by broker Ralph Barone from NJ REO. The deal showcases the collaboration between the buyer and the seller, as well as the expertise of Ralph Barone as their representative.
Players
South Orange Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $14 per square foot on a published $885K for 63,162 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
17.92%
Cash-on-Cash
-5.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93