3 months on rocket

163 Park St, Montclair, NJ, 07042

$1,600,000

Home List Price

$10,000*

Closing Credit

10 Bedrooms
5 Full Baths
Multi

Location

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163 Park St, Montclair$1,600,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Garage4 spaces
MLS #24027935
StatusActive

About 163 Park St

Don't miss this incredible opportunity with endless potential! Build your dream home or keep as an investment, incoming producing property! This expansive multifamily residence, currently a 5-unit investment property, is nestled within a single-family zone on a spacious flat lot with ample parking (4 garage spaces, one is currently being rented for $125 per month and each tenant can have 2 outdoor spots) and generous yard space. Ideally located in a prime location- .3 miles to Watchung Plaza shops, cafe's and NYC direct train- and close to Walnut St Farmer's Market too! The property offers the flexibility to remain a 5-family residence or be converted to a single, 2, 3, or 4-family home. Each unit features separate utilities, with paid laundry available in the basement. Surrounded by beautiful homes, the neighborhood would also welcome a single family conversion or new build. The house and garage are being sold in strictly AS IS condition. All units are currently being rented.

Property Details

Property Features

Listing Office:

  • Office Name: Compass New Jersey, LLC-Montclair
  • Office Phone: (973) 310-7360
  • Listing Agent: Susan Lovit

Interior Features

Bedroom and Bathroom Information:

  • Full Bathrooms: 5
  • Total Bedroom Count: 10

Exterior Features

Parking Information:

  • Garage Space: 4 spaces

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,600,000

Tax Information:

  • Annual Amount: $28,219
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Montclair, NJ.

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Montclair, NJ

City

Med. Sold Price

$1.3M

Med. Price/SqFt

$372

Avg. Days On Market

11

# of Sold Homes

21

163 Park St vs Montclair

113 DAYS ON ROCKET

+102 Days

$1,600,000

+$300K More

KEY TAKEAWAY

This property is $300K more than the Median Sold Price in Montclair, NJ.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #24027935

Listing Office:

  • Office Name: Compass New Jersey, LLC-Montclair
  • Office Phone: (973) 310-7360
  • Listing Agent: Susan Lovit

IDXDisclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing Service, Inc. Copyright© 2024 New Jersey Multiple Listing Service, Inc. All rights reserved.

Rocket Homes Real Estate, 701 Griswold St, Suite 21, Detroit, MI 48226

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/21/2024, 10:25:13 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$28,219$873,400
2019$27,023$873,400
2018$31,739$873,400
2017$31,739$850,000

History based on county public records data.

Payment Calculator

$8,053

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,863

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-694237
6
/10

  • Watchung Elementary School

  • 14 Garden St

  • 0.28 miles

  • Public District Grades KG-5

school-card-donut-694238
6
/10

  • Edgemont Elementary School

  • 20 Edgemont Rd

  • 0.45 miles

  • Public District Grades KG-5

school-card-donut-694239
8
/10

  • Hillside Elementary School

  • 54 Orange Rd

  • 1.01 miles

  • Public District Grades 3-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $182,589. The majority of Montclair, NJ residents have income $200k+ annually. Typical family type is married, with kids. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

Living In Montclair, NJ

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

What type of housing is available in Montclair, NJ?

Montclair's housing market is diverse, offering a range of options from stately Victorian homes to modern condominiums and everything in between. Single-family homes are prevalent, with a mix of historic charm and contemporary amenities. The area also features a selection of multi-family dwellings and apartments, accommodating various lifestyle needs. The homeownership rate in Montclair is robust, reflecting the community's commitment to long-term residency and neighborhood stability.

Is Montclair, NJ a good place to live?

Montclair is celebrated for its vibrant arts scene and cultural richness, with numerous galleries, theaters, and live music venues dotting the landscape. The community prides itself on a strong sense of local identity, with annual events like the Montclair Film Festival drawing residents and visitors alike. The town's character is further enhanced by its lush parks and commitment to preserving green spaces, providing a scenic backdrop to the bustling town activities.

Are things conveniently located in Montclair, NJ?

The community is served by a comprehensive educational system, including several public and private schools that cater to a range of educational needs. Montclair is home to a number of healthcare facilities, offering residents access to quality medical care. The town also boasts a public library system that serves as a hub for learning and community engagement. Retail and dining options reflect the local culture, with a mix of independent shops and restaurants that showcase the town's diverse culinary landscape.

What does the transportation in Montclair, NJ look like?

Montclair's transport infrastructure is well-developed, with a focus on both private and public transit options. The town features a network of bus routes that facilitate local and regional travel, and the train service provides a direct link to New York City, appealing to commuters. The community is also bike-friendly, with designated lanes and trails. Roadways are well-maintained, ensuring smooth travel within and outside the town, and ongoing initiatives aim to further improve transport efficiency and accessibility.

Rocket Homes›New Jersey›Essex County›Montclair›07042›163 Park St

This home is located at 163 Park St in Montclair, NJ and zip code 07042. Features: 10 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since August 30, 2024 and is currently priced at $1,600,000.

In November 2024 more than 20 listings in Montclair, NJ were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 1 were sold below. The inventory of homes for sale in Montclair, NJ between October 2024 and November 2024 increased by 5.4%. In November 2024 median list price was $1,300,000 and the average listing age was 11 days.

From Rocket Homes Real Estate and based on county public records data.

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