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Property profile & analytics
OFF-MARKET
Residential income homes
215 Main St 229 Somerville, NJ 08876-3022
Entity Owned
18-yr Hold
Property ID
US59-1622450
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Construction
BRICK
Lot
2.26 ac (98,568 SF)
Zoning code
PO-R
APN
18 00046-0000-00004- 01
UPID
US59-1622450
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Pine View Gardens At Somerville LLC · 18 yrs held
Pine View Gardens At Somerville LLC
since 2008
3 recorded transactions
Zoning & alternative use
PO-R · Somerville, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
e Family Residence District. § 102-100 R-2 Single Family Residence District. § 102-101 R-3 Single Family Residence District. § 102-102 G Garden Apartment District. § 102-103 SC Senior Citizen Housing District. § 102-104 PO-R Professional Office-Residential District. § 102-105 B-1 Central Business District. § 102-106 B-2 Central Business District. § 102-107 B…
Zone name
Professional Office And Residential District
General category
RESIDENTIAL
Zone area
134.26 ac
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 Somerville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Somerville 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$218,138
Tax year 2022
Assessed value
$5,800,000
Assessed 2023
Previous assessed
$5,800,000
+0.0% YoY
Effective rate
3.76%
On assessed value
Assessed land
$1,582,000
Assessed improvement
$4,218,000
Land market value
$1,582,000
Improvement market value
$4,218,000
Total market value
$5,800,000
Applied tax rate
18.0000
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
Construction
BRICK
Heating
NONE
Stories
4
Units
1
Lot
2.26 ac (98,568 SF)
Zoning code
PO-R
APN
18 00046-0000-00004- 01
UPID
US59-1622450
Jurisdiction
SOMERSET
Metro division
EDISON, NJ METROPOLITAN DIVISION
Zoning & alternative use
PO-R · Somerville, NJZoning PO-R · permitted uses
PO-R · Somerville, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
e Family Residence District. § 102-100 R-2 Single Family Residence District. § 102-101 R-3 Single Family Residence District. § 102-102 G Garden Apartment District. § 102-103 SC Senior Citizen Housing District. § 102-104 PO-R Professional Office-Residential District. § 102-105 B-1 Central Business District. § 102-106 B-2 Central Business District. § 102-107 B-3 Business Services District. § 102-108 B-4 Neighborhood Business - Residential Dis
Zone name
Professional Office And Residential District
General category
RESIDENTIAL
Zone area
134.26 ac
Building & site characteristics
From public records
Construction
BRICK
Heating
NONE
Stories
4
Units
1
Lot
2.26 ac
Current owner
From public records · entity-resolved
Pine View Gardens At Somerville LLC
Entity
Mailing address
PO BOX 383, LIVINGSTON, NJ 07039-0383
Ownership since
2008
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
May 6, 2008
—
Pine View Gardens At Somerville LLC
Pine View Gardens
Deed
$2,557,000 · Wachovia Multifamily Capital INC
—
—
Pine View Gardens Of Somerville L
—
Deed Of Trust
related
$7,421,000 · Capital One Multifamily Fin
—
—
Pine View Gardens Of Somerville L
—
Deed Of Trust
related
$6,510,000 · Valley National 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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