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Property profile & analytics
OFF-MARKET
Estimated value
$1,045,000
Residential income homes
74 Spruce St, Princeton, NJ 08542-3802
Individually Owned
4-yr Hold
Free & Clear
Property ID
US59-1891160
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1900
Construction
FRAME
Total area
2,650 SF
Lot
203 ac (8,842,680 SF)
Zoning code
R4
APN
14 00030- 03-00058
UPID
US59-1891160
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
$1.15M
CAP Approach
CAP
$720k
Comparable Approach
Comparable
$794k
Blend (final)
Blend
$1.05M
Owner & transaction history
John Higgins · 4 yrs held
John Higgins
since 2021
Last sale
$1.1M
1 recorded transaction
Zoning & alternative use
R4 · Princeton, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.0M
+245.1%
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 Princeton submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Princeton 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
$1,180,000
ML approach
$1,145,000
CAP Approach
CAP Return
Estimation
6%
$780,000
6.5%
$720,000
7%
$670,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,035,000
Change: +245% · Conversion: Moderate
Blend value · Realmo final
$1.05M
Range $941k – $1.15M · ±10% · vs last sale $1.05M (Sep 13 2021)
Last sale anchor
$1.05M
Sep 13 2021
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
$394 / 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
$18,187
Tax year 2022
Assessed value
$747,800
Assessed 2023
Previous assessed
$747,800
+0.0% YoY
Effective rate
2.43%
On assessed value
Assessed land
$407,000
Assessed improvement
$340,800
Land market value
$407,000
Improvement market value
$340,800
Total market value
$747,800
Applied tax rate
14.0000
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
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
2
Units
1
Total area
2,650 SF
Lot
203 ac (8,842,680 SF)
Zoning code
R4
APN
14 00030- 03-00058
UPID
US59-1891160
Jurisdiction
MERCER
Zoning & alternative use
R4 · Princeton, NJ
Zoning R4 · permitted uses
R4 · Princeton, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Princeton. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$1.0M
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
1900
Construction
FRAME
Heating
NONE
Stories
2
Units
1
Lot
203 ac
Current owner
From public records · entity-resolved
John Higgins
Individual
Free & Clear · 4 yrs held
Mailing address
35 KNL DR, PRINCETON, NJ 08540-5630
Ownership since
2021
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
Sep 13, 2021
$1,050,000
John Higgins
Bideo Okuda
Bargain And Sale 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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