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    12 44Th St Maplewood, NJ 07040

    For Sale
    $1,100,000

    Two lots offer development potential with multiple strategic options.

    Lot size:
    0.35 Acres

    Property Features for 12 44Th St

    General Information

    Standard status
    Active
    Lot size
    0.35 Acres

    Source: COLDWELL BANKER REALTY Agent MARVIN WILLIAMS

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Development Opportunity: Two Adjoining Lots

    This property comprises two lots, specifically 1016-1022 Chancellor Ave and 12 44th St, presenting a development opportunity. One option involves renting the existing house while awaiting township approvals, providing an interim income stream. Another option is to demolish the existing structure and construct townhouses, aligning with neighborhood character and similar nearby developments. Developers can pursue approvals for townhouses while renting the house to offset holding costs, supporting a transition from demolition to construction. Alternatively, the house can remain as is or be converted into a two-family residence, with construction focused on Lot 17. Merging the lots is essential to apply for a variance to unlock the project's full potential. This approach suits developers interested in immediate and phased development, making the property a versatile investment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Maplewood
    County
    Essex
    State
    New Jersey
    Longitude
    -74.251169
    Latitude
    40.721715

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    FAQs

    What type of property is this?
    Residential land & home lot - Two lots offer development potential with multiple strategic options.
    Where is this residential land & home lot located?
    The property is located at 12 44Th St Maplewood, NJ.
    What is the asking price?
    The asking price for this property is $1,100,000.
    What are key features of this property?
    This property features: - Combination of 2 lots offers significant development potential.; - Opportunity to rent existing house for immediate income.; - Potential to build townhouses, aligning with neighborhood character.
    (973) 378-8300
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    Realmo Value Estimation

    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.

    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.

    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
    12 44Th St Maplewood, NJ 07040
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