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Property profile & analytics
OFF-MARKET
Estimated value
$2,875,000
Residential income homes
1307-1311 Riv Ave 1311, Lakewood, NJ 08701-5616
Individually Owned
2-yr Hold
Free & Clear
Property ID
US59-1063585
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1960
Construction
BRICK
Total area
14,150 SF
Lot
6.67 ac (290,545 SF)
Zoning code
HD7
APN
15 01077-0000-00047
UPID
US59-1063585
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
by Request
CAP Approach
CAP
$3.65M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.88M
Owner & transaction history
The State Of New Jersey · 2 yrs held
The State Of New Jersey
since 2023
Last sale
$35,000
3 recorded transactions
Zoning & alternative use
HD7 · Lakewood, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.2M
+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
by Request
CAP Approach
CAP Return
Estimation
6%
$3,945,000
6.5%
$3,645,000
7%
$3,385,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,015,000
Current use
COMMERCIAL (GENERAL)
$4,240,000
Change: +6% · Conversion: Moderate
OFFICE BUILDING
$3,365,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$2.88M
Range $2.59M – $3.16M · ±10% · vs last sale $35k (Nov 9 2023)
Last sale anchor
$35k
Nov 9 2023
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
$203 / 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
$196,524
Tax year 2022
Assessed value
$8,611,900
Assessed 2023
Previous assessed
$8,611,900
+0.0% YoY
Effective rate
2.28%
On assessed value
Assessed land
$3,640,000
Assessed improvement
$4,971,900
Land market value
$3,640,000
Improvement market value
$4,971,900
Total market value
$8,611,900
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
1960
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Total area
14,150 SF
Lot
6.67 ac (290,545 SF)
Zoning code
HD7
APN
15 01077-0000-00047
UPID
US59-1063585
Jurisdiction
OCEAN
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
HD7 · Lakewood, NJ
Zoning HD7 · permitted uses
HD7 · Lakewood, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lakewood. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.0M
COMMERCIAL (GENERAL)
Est. value
$4.2M
OFFICE BUILDING
Est. value
$3.4M
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
1960
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Lot
6.67 ac
Current owner
From public records · entity-resolved
The State Of New Jersey
Individual
Free & Clear · 2 yrs held
Mailing address
1035 PKWY AVE, EWING, NJ 08618-2309
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 9, 2023
$35,000
The State Of New Jersey
Dutchtown LLC
Deed
—
—
—
Dutchtown LLC
—
Deed Of Trust
related
$9,555,000 · Capital One Multifamily Fin
—
—
Dutchtown LLC
—
Deed Of Trust
related
$288,380,000 · New York Community Bank
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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