1682 Springfield Ave New Providence, NJ 07974-1327
R2 Single-Family Residential District. Purpose. The R2 Single-Family District is a single-family residential district that is designed for single-family development in detached structures that reflect the existing patterns of development. The district comprises the majority of the land area within the Borough and much the original development dates to the po…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
Physical attributes from public recordsZoning & alternative use
R-2 · New Providence, NJR2 Single-Family Residential District. Purpose. The R2 Single-Family District is a single-family residential district that is designed for single-family development in detached structures that reflect the existing patterns of development. The district comprises the majority of the land area within the Borough and much the original development dates to the post-war period. Because many of these residential neighborhoods were created far before the Borough's modern zoning ordinance, flexible mechanisms have been put in place to streamline the process for homeowners attempting to renovate or expand their homes. Permitted principal uses. Single-family detached dwellings. Essential services. Community residences/shelters housing persons with developmental disabilities, victims of domestic violence, the terminally ill, persons with head injuries, consistent with N.J.S.A. 40:55D-66.1. [Amended at time of adoption of Code (see Ch. 1, General Provisions, Art. I)] Permitted accessory uses. Home offices/occupations. Family day care homes. Solar installations. Electric vehicle charging infrastructure. Other uses customary and incidental to the principal use. Conditional uses. Institutional and public uses. Places of worship. Small wind energy systems. Bulk standards. All restrictions as set forth in Schedule II of this chapter and as specifically detailed in the following table apply to the R2 Zoning District: R2 Single-Family Residential District Bulk Standards Minimum lot area 15,000 square feet Minimum lot width for interior lots At setback line 110 feet At right-of-way line 60 feet Minimum lot width for corner lots At setback line 110 feet At right-of-way line 70 feet Minimum front yard setback 40 feet or the prevailing front yard setback line* of existing dwellings located within 200 feet of the perimeter of the subject lot and located on the same side of the street as the subject lot, whichever is less, but in no event less than 10 feet. Minimum side yard setback One For lots wider than 75 feet, the setback shall be 12 feet and for lots 75 feet wide or less, the setback shall be 8 feet; further, in no event shall any new building or addition be permitted to be closer to any side lot line than 60% of the building's or addition's height, measured pursuant to the definition of "yard, side." Both 30% of the lot width Minimum rear yard setback Principal structure 40 feet or 35% of lot depth;
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.