2 months on rocket

774 S Main St, Phillipsburg Town, NJ, 08865

$886,900

Home List Price

$10,000*

Closing Credit

12 Bedrooms
5 Full Baths, 1 Partial
Multi

Location

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774 S Main St, Phillipsburg$886,900

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeMulti Family
ParkingOff-Street Parking
HeatingHot Water, Electric, Natural Gas
BasementYes
MLS #3922112
Lot Size0.23 Acres
StatusActive

About 774 S Main St

$1.05M property is on sale for only $886,900! Fantastic investment opportunity in the heart of Phillipsburg, NJ! This legally recognized 5-unit property offers exceptional value with an impressive 8% cap rate. Situated on a spacious lot on S Main St, the property consists of two buildings on one tax record: one with 3 units and the other with 2 units. All units are currently 100% occupied, with some tenants on Section 8, providing steady rental income.One standout feature is the recently renovated unit, which boasts 4 legal bedrooms and a finished attic that can be converted into a 5th bedroom, further enhancing the property's value. This building includes (1) 1bed, (2) 2bed, (1) 3 bed, (1) 4bed units. Tenants cover their own utilities, including water, making for a hassle-free investment. Monthly gross income is $7825, annual gross income is $93,900. Annual property taxes are $13,200 and property insurance is $5500. The property benefits from affordable real estate taxes and has recently been appraised at $1.05M as-is. With potential to increase rents to match market rates, this cash-flowing asset is an ideal opportunity for savvy real estate investors. Don't miss out on this unique chance to own a multifamily gem in a growing area!

Property Details

Property Features

Property Information:

  • Architectural Style: See Remarks

Listing Office:

  • Office Name: REAL
  • Office Phone: (855) 450-0442

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Partial Bathrooms: 1
  • Full Bathrooms: 5
  • Total Bedroom Count: 12

Exterior Features

Parking Information:

  • Parking: Off-Street Parking

Lot Features

Lot Information:

  • Lot Size: 0.23 Acres

Utilities

Utilities Information:

  • Heating: Hot Water, Electric, Natural Gas

Other

Directions Information:

  • Directions: straight on S Main St it is on main st.

Price Information

Listing Price Info

Price Summary:

  • List Price: $886,900
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Housing Market Comparison

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

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Phillipsburg, NJ

City

Med. Sold Price

$320K

Med. Price/SqFt

$202

Avg. Days On Market

16

# of Sold Homes

22

774 S Main St vs Phillipsburg

72 DAYS ON ROCKET

+56 Days

$886,900

+$566.8K More

KEY TAKEAWAY

This property is $566.8K more than the Median Sold Price in Phillipsburg, NJ.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #3922112

Listing Office:

  • Office Name: REAL
  • Office Phone: (855) 450-0442

Information deemed reliable but not guaranteed. Copyright © 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved.

Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as an IDX Listing. Information deemed reliable but not guaranteed.

Notice: The dissemination of listings displayed herein does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/21/2024, 1:20:46 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

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Recommended Financing

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Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,725

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NMLS#3030

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-308227
4
/10

  • Phillipsburg Elementary School

  • 525 Warren St

  • 0.62 miles

  • Public District Grades 3-5

school-card-donut-308228
3
/10

  • Easton Arts Academy Elementary Charter School

  • 30 N 4th St

  • 1.86 miles

  • Public Charter Grades KG-5

school-card-donut-308229
6
/10

  • Lopatcong Elementary School

  • 263 Route 57

  • 1.92 miles

  • Public District Grades PK-4

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $70,486. Residents of Phillipsburg, NJ typically earn between $35k-100k each year. The majority of families are married, no kids. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›New Jersey›Warren County›Phillipsburg›08865›774 S Main St

This home is located at 774 S Main St in Phillipsburg Town, NJ and zip code 08865. This home sits on a 0.23 acre lot. Features: 12 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since September 10, 2024 and is currently priced at $886,900.

In October 2024, from all listings sold in Phillipsburg, NJ there were more than 11 sold above asking price, over 8 sold below and more than 3 were sold right at the asked price. The number of listings in Phillipsburg, NJ decreased by 0.8% between September 2024 and October 2024. The median list price of listings available in October 2024 was $320,066, while the average time on the real estate market was 16 days.

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

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