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Property profile & analytics
OFF-MARKET
Estimated value
$625,000
Residential income homes
21 Hagerty Ln, Cranbury, NJ 08512-2735
Individually Owned
2-yr Hold
Property ID
US59-1184011
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
2003
Construction
FRAME
Total area
2,446 SF
Lot
0.23 ac (9,945 SF)
Zoning code
RAR
APN
02 00020-0000-00010- 05
UPID
US59-1184011
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
$720k
CAP Approach
CAP
$630k
Comparable Approach
Comparable
$613k
Blend (final)
Blend
$625k
Owner & transaction history
Richard Charles Cave · 2 yrs held
Richard Charles Cave
since 2023
Last sale
$625,000
4 recorded transactions
Zoning & alternative use
RAR · Cranbury, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$670,000
+11.0%
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 Cranbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cranbury 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
$755,000
ML approach
$720,000
CAP Approach
CAP Return
Estimation
6%
$680,000
6.5%
$630,000
7%
$585,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$605,000
Current use
OFFICE BUILDING
$670,000
Change: +11% · Conversion: Moderate
COMMERCIAL (GENERAL)
$600,000
Change: -1% · Conversion: Moderate
Blend value · Realmo final
$625k
Range $563k – $688k · ±10% · vs last sale $625k (Oct 12 2023)
Last sale anchor
$625k
Oct 12 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
$256 / 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
$7,475
Tax year 2022
Assessed value
$419,500
Assessed 2023
Previous assessed
$419,500
+0.0% YoY
Effective rate
1.78%
On assessed value
Assessed land
$111,600
Assessed improvement
$307,900
Land market value
$111,600
Improvement market value
$307,900
Total market value
$419,500
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2003
Construction
FRAME
Heating
NONE
Units
1
Total area
2,446 SF
Lot
0.23 ac (9,945 SF)
Zoning code
RAR
APN
02 00020-0000-00010- 05
UPID
US59-1184011
Jurisdiction
MIDDLESEX
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
RAR · Cranbury, NJ
Zoning RAR · permitted uses
RAR · Cranbury, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cranbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$605,000
OFFICE BUILDING
Est. value
$670,000
COMMERCIAL (GENERAL)
Est. value
$600,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
2003
Construction
FRAME
Heating
NONE
Units
1
Lot
0.23 ac
Current owner
From public records · entity-resolved
Richard Charles Cave
Individual
Mailing address
21 HAGERTY LN, CRANBURY, NJ 08512-2735
Mailing matches property
Yes
Owner-occupied
Yes
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 12, 2023
$625,000
Richard Charles Cave
Marvin H Sitrin
Deed
$475,000 · Provident Funding Associates LP
Oct 25, 2004
$470,000
Fountain,anthony S & Lark T
Cheche,peter SR & Julia R
Grant Deed
—
Jan 24, 2004
$423,433
Sitrin,marvin H & Eloise K
K Hovnanian At Cranbury LLC
Grant Deed
—
—
—
Sitrin,marvin H & Eloise K
—
Deed Of Trust
related
$100,000 · Wachovia Bk/sc
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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