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    The Largest CRE Database in the US with Over 1 Million Listings

    347 High Crest Dr West Milford, NJ 07480

    Sponsored
    For Sale
    $850,000

    1 Story, Ranch - West Milford, NJ

    Type:Ranch
    Days on Market:
    11
    Last Refresh:
    Jan 30 at 8:06 pm

    Property Features for 347 High Crest Dr

    General Information

    Property type
    Residential
    Property subtype
    Ranch
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3
    Bedrooms
    3
    Bathrooms
    3
    Interior features
    Central Vac

    Utilities

    Heating system
    Baseboard, Hot Water (Heating), Oil
    Cooling system
    Ductless
    Water front features
    Lake Front, Waterfront
    Water front
    1

    Building Details

    Floors in Building
    1
    Building materials
    Brick
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Carol Lockenvitz
    Carol Lockenvitz

    Keller Williams Prosperity Realty (973) 600-3262

    Listing agent Carol Lockenvitz (973) 696-0077

    Listing date Jan 20, 2026

    MLS# 26001825 Listing URL

    Copyright © 2026 New Jersey MLS Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lakefront Ranch in High Crest

    Located in the lower section of West Milford near Kinnelon, this lakefront ranch is situated in the High Crest Lake Community. Offered for the first time in over 60 years, this home features 3 bedrooms and 3 full baths. Designed to embrace its natural surroundings, the home offers walk-out access to the lake, creating seamless indoor-outdoor living. The main level includes a kitchen, dining room, and living room all overlooking the lake. A family room showcases lake views and space for entertaining, with walk-out access to a large deck. The walk-out lower level features a family room with fireplace, and two additional bedrooms, making it ideal for an in-law suite. An oversized garage is also included. Residents of High Crest Lake enjoy access to lifeguarded beaches, swimming and swim team programs, year-round fishing, boating, a book club, and a clubhouse with many events and socials. The property is located in a desirable neighborhood that also has an Elementary School K-5.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Realty agency Law Firm Spa & Massage Dental Office Gym & Fitness Pharmacy Auto Repair Shop Wholesale Shop Daycare Center Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Milford
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.3755838
    Latitude
    41.0191171

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    FAQs

    What type of property is this?
    Single family property - Lakefront ranch in West Milford's High Crest Lake Community.
    Where is this single family property located?
    The property is located at 347 High Crest Dr West Milford, NJ.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: - Lakefront property with direct access to High Crest Lake.; - Ranch-style home with walk-out lower level, ideal for in-law suite or guest accommodations.; - High Crest Lake Community amenities: lifeguarded beaches, boating, fishing, clubhouse, and social events.
    (973) 838-9300
    Request Owner's contact information
    347 High Crest Dr West Milford, NJ 07480
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    West Milford, NJ 07480
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    347 High Crest Dr West Milford, NJ 07480
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    We can help!
    Listing Contact
    Carol Lockenvitz
    Carol Lockenvitz
    (973) 838-9300
    Learn more
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