238 Riv Rd Millington, NJ 07946-1315
Individually Owned
34-yr Hold
Estimated value (blended)
$350k
Range $315k – $385k (±10%)
Property ID
US59-1467259
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1959
Total area
3,079 SF
Lot
0.63 ac (27,617 SF)
Zoning code
R-3
APN
30 12201-0000-00013
UPID
US59-1467259
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$350k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$525k
Blend (final)
Blend
$350k
Owner & transaction history
since 1992
5 recorded transactions
Zoning & alternative use
R-3 · Millington, NJ
Top alternative use upside
Office building
$540,000
+10.6%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
3 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$350k
Value range
$315k – $385k
±10% around blend
Estimated value / SF
$114 / SF
Confidence
Property data
88
Comparable evidence
60
$315k
blend $350k
$385k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,079 SF
Lot area
0.63 ac
Year built
1959
Stories
1
APN
30 12201-0000-00013
Assessed value
$618,900
Annual tax
$13,545
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$525k
Range $321k – $669k
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$350k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+11%
vs current-use indication
Apartment House (5+ Units) · current use
Commercial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$619k
Move the market yield to see immediate price impact.
Value / SF
$201
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$39k
$780k
$557k
$433k
$43k
$866k
$619k
$481k
$48k
$953k
$681k
$530k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$13,545
Tax year 2022
Assessed value
$618,900
Assessed 2023
Previous assessed
$618,900
+0.0% YoY
Effective rate
2.19%
On assessed value
Assessed land
$222,000
Assessed improvement
$396,900
Land market value
$222,000
Improvement market value
$396,900
Total market value
$618,900
Applied tax rate
30.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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
1959
Heating
NONE
Stories
1
Units
1
Total area
3,079 SF
Lot
0.63 ac (27,617 SF)
Zoning code
R-3
APN
30 12201-0000-00013
UPID
US59-1467259
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-3 · Millington, NJZoning R-3 · permitted uses
R-3 · Millington, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1959
Heating
NONE
Stories
1
Units
1
Lot
0.63 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R-3
Jurisdiction
Millington, NJ
Recorded code
R-3
Ownership Intelligence
Find the owner behind the property.
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What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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