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Property profile & analytics
OFF-MARKET
Residential income homes
3 Locust St Madison, NJ 07940-1636
Entity Owned
16-yr Hold
Free & Clear
Property ID
US59-1197472
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1900
Construction
FRAME
Total area
2,988 SF
Lot
0.18 ac (7,701 SF)
Zoning code
R-4
APN
17 01702-0000-00010
UPID
US59-1197472
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
3 Locust Street LLC · 16 yrs held
3 Locust Street LLC
since 2010
1 recorded transaction
Zoning & alternative use
R-4 · Madison, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
R-1, R-2, R-3, Single-Family Residential Zones; R-4 Two-Family Residential Zone regulations. Purpose. The purpose of these zones is to preserve the integrity of existing residential areas by preventing the intrusion of nonresidential uses into residential neighborhoods and by maintaining existing development intensity and population density consistent with r…
Zone name
Two Family Residential
General category
RESIDENTIAL
Zone area
140.05 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 Madison submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madison 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
$10,936
Tax year 2022
Assessed value
$532,400
Assessed 2023
Previous assessed
$532,400
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$240,500
Assessed improvement
$291,900
Land market value
$240,500
Improvement market value
$291,900
Total market value
$532,400
Applied tax rate
17.0000
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
1900
Construction
FRAME
Heating
NONE
Stories
3
Units
4
Total area
2,988 SF
Lot
0.18 ac (7,701 SF)
Zoning code
R-4
APN
17 01702-0000-00010
UPID
US59-1197472
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-4 · Madison, NJZoning R-4 · permitted uses
R-4 · Madison, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
R-1, R-2, R-3, Single-Family Residential Zones; R-4 Two-Family Residential Zone regulations. Purpose. The purpose of these zones is to preserve the integrity of existing residential areas by preventing the intrusion of nonresidential uses into residential neighborhoods and by maintaining existing development intensity and population density consistent with residential neighborhood patterns. Principal permitted uses. Single-family detached dwellings. Public parks and playgrounds.
Zone name
Two Family Residential
General category
RESIDENTIAL
Zone area
140.05 ac
Building & site characteristics
From public records
Year built
1900
Construction
FRAME
Heating
NONE
Stories
3
Units
4
Lot
0.18 ac
Current owner
From public records · entity-resolved
3 Locust Street LLC
Entity
Free & Clear · 16 yrs held
Mailing address
15 PARK AVE, MADISON, NJ 07940-1826
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2010
—
3 Locust Street LLC
Debiasse,pat W JR
Quit Claim Deed
—
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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