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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Residential income homes
123 Rdg Ave Lakewood, NJ 08701-3443
Individually Owned
13-yr Hold
Absentee Owner
Property ID
US59-2523293
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1906
Total area
2,142 SF
Lot
0.27 ac (11,700 SF)
Zoning code
B2
APN
15 00238-0000-00029
UPID
US59-2523293
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$475k
CAP Approach
CAP
$550k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$545k
Owner & transaction history
Michael · 13 yrs held
Michael
since 2012
7 recorded transactions
Zoning & alternative use
B2 · Lakewood, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$640,000
+5.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lakewood submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lakewood submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$475,000
CAP Approach
CAP Return
Estimation
6%
$595,000
6.5%
$550,000
7%
$510,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$605,000
Current use
COMMERCIAL (GENERAL)
$640,000
Change: +6% · Conversion: Moderate
OFFICE BUILDING
$510,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$545k
Range $491k – $600k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$254 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$33,226
Tax year 2022
Assessed value
$1,456,000
Assessed 2023
Previous assessed
$1,456,000
+0.0% YoY
Effective rate
2.28%
On assessed value
Assessed land
$390,000
Assessed improvement
$1,066,000
Land market value
$390,000
Improvement market value
$1,066,000
Total market value
$1,456,000
Applied tax rate
15.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1906
Heating
NONE
Stories
2
Units
1
Total area
2,142 SF
Lot
0.27 ac (11,700 SF)
Zoning code
B2
APN
15 00238-0000-00029
UPID
US59-2523293
Jurisdiction
OCEAN
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
B2 · Lakewood, NJZoning B2 · permitted uses
B2 · Lakewood, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$605,000
COMMERCIAL (GENERAL)
Est. value
$640,000
OFFICE BUILDING
Est. value
$510,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1906
Heating
NONE
Stories
2
Units
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
Michael
Individual
Mailing address
706 PRINCETON AVE, LAKEWOOD, NJ 08701-2850
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 28, 2012
$450,000
Michael
Kaufman,simon
Grant Deed
—
May 6, 2010
$250,000
Simon Kaufman
Mazal Hatzlacha LLC
Grant Deed
—
Apr 28, 2010
$158,500
Mazal Hatzlacha LLC
Eckstein,meyer
Grant Deed
—
Apr 12, 2006
$380,000
Meyer Eckstein
123 Ridge LLC
Bargain And Sale Deed
$304,000 · Americas Wholesale Lender
Jan 11, 2005
—
123 Ridge LLC
Mendlovitz,sara
Grant Deed
—
Nov 21, 2001
$121,000
Sara Mendlovitz
Dempsey,karen & Jonathan H
Grant Deed
$108,900 · First Financial Equities INC
—
—
Simon Kaufman
—
Deed Of Trust
related
$165,000 · The Bank
—
—
Sara Mendlovitz
—
Deed Of Trust
related
$180,000 · First Financial Equities INC
—
—
Simon Kaufman
—
Deed Of Trust
related
$165,000 · The Bank
—
—
Sara Mendlovitz
—
Deed Of Trust
related
$262,500 · Indymac Bank Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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