13 days on rocket

225-231 Gibbon St, Salem, NJ, 08079

$320,000

Home List Price

$3,800*

Closing Credit

0 Baths
2,380 SqFt
$134/SqFt
Multi
Schools Nearby

Location

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225-231 Gibbon St, Salem$320,000

Buyer Closing Credits

$3,800*

1.25% Loan Amount

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Property Highlights

Home TypeQuadruplex
ParkingOn Street
Year Built1940
HeatingForced Air
CoolingNone
BasementYes
MLS #NJSA2010698
Lot Size0.12 Acres
StatusActive
(ACTIVE)

About 225-231 Gibbon St

Welcome to 225-231 Gibbon Street, Salem, NJ. This meticulously maintained property presents an exceptional investment opportunity with a smart and strategic approach. Comprising four 3-bedroom, 1-bath townhomes, this income-generating property offers a total of 12 bedrooms and 3 bathrooms across a generous 2380 square feet of living space. Nestled on a total lot size of 5118 square feet, the property boasts newer roofs, adding an invaluable layer of functionality . Each unit is currently occupied, with annual leases in place, ensuring a consistent stream of income for the savvy investor. Notably, three of the four of the townhomes have been recently updated, offering a blend of character and modern convenience. The property's impressive annual gross rental net of $56,760 and a remarkable 12% cap rate underscore its potential as a lucrative addition to any investment portfolio. Photos of 229 and 231 are prior to the recent current tenants' occupancy. Conveniently located in a convenient area, this property presents a rare opportunity to acquire a turnkey investment with strong rental history and promising returns. Don't miss the chance to own this income-generating gem in Salem, NJ. Schedule your showing today and seize this astute investment opportunity.

Property Details

Property Features

Property Information:

  • Architectural Style: Traditional
  • Year Built: 1940
  • Living Area: 2,380 SqFt

Listing Office:

  • Office Name: Compass New Jersey, LLC - Moorestown
  • Office Phone: (856) 214-2639
  • Listing Agent: Jennifer J Rothenberger

Interior Features

Interior Information:

  • Basement: Yes

Exterior Features

Parking Information:

  • Parking: On Street

Lot Features

Lot Information:

  • Lot Size: 0.12 Acres

Utilities

Utilities Information:

  • Heating: Forced Air
  • Cooling: None

School Info

Assigned Schools Information:

  • Salem High School, Public District Grades 9-12
  • Salem Middle School, Public District Grades 3-8

Other

Directions Information:

  • Directions: Off of Hubble St

Municipality:

  • Salem City

Price Information

Listing Price Info

Price Summary:

  • List Price: $320,000
  • Price Per SqFt: $134/SqFt
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Housing Market Comparison

See how this home compares to others in Salem, NJ.

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Salem, NJ

City

Med. Sold Price

$170K

Med. Price/SqFt

$124

Avg. Days On Market

62

# of Sold Homes

16

225-231 Gibbon St vs Salem

13 DAYS ON ROCKET

-49 Days

$320,000

+$150K More

$134/SqFt

+$10 More

KEY TAKEAWAY

This property is $150K more than the Median Sold Price and $10/SqFt more than other homes in Salem, NJ.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: BRIGHT
  • MLS Number: #NJSA2010698

Listing Office:

  • Office Name: Compass New Jersey, LLC - Moorestown
  • Office Phone: (856) 214-2639
  • Listing Agent: Jennifer J Rothenberger

IDX Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which participates, and is provided by BRIGHT through a licensing agreement.

The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. This home sale information is not to be construed as an appraisal and may not be used as such for any purpose.

BRIGHT MLS is the (or a) provider of this home sale information and has compiled content from various sources. Some properties represented may not have actually sold due to reporting errors. ©2024 BrightMLS. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/30/2024, 2:25:17 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$1,665

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,026

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Middle School

school-card-donut-3488582
2
/10

  • Salem Middle School

  • 51 New Market St

  • 0.49 miles

  • Public District Grades 3-8

High School

school-card-donut-3488583
3
/10

  • Salem High School

  • 219 Walnut St

  • 1.34 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $39,200. The most common annual income of people living in Salem, NJ is less than $35k. The most common type of family is single, no kids. Residents of this area typically have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›New Jersey›Salem County›Salem›08079›225-231 Gibbon St

This home is located at 225-231 Gibbon St in Salem, NJ and zip code 08079. This 2,380 square foot home, which was built in 1940, sits on a 0.12 acre lot. It has been listed on Rocket Homes since April 16, 2024 and is currently priced at $320,000.

While more than 9 listings in Salem, NJ in March 2024 were sold above asking price, there were more than 2 listings sold at asking price, and more than 5 were sold below. The number of listings in Salem, NJ increased by 5.3% between February 2024 and March 2024. In March 2024 median list price was $170,000 and the average listing age was 62 days.

From Rocket Homes Real Estate and based on county public records data.

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