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$1,299,000

Beds
4
Baths
2.5
sq ft
1,080

242 N 8th St, Surf City, NJ 08008

242 N 8th St

SURF CITY, NJ 08008

  • 28 days on market
    • Price drop $130,000↓
Experience Surf City! Begin your Surf City adventure in this charming, 1950’s Surf City Cape. This home is a legal duplex, hosting 2 bedroom / 1.5 bath / kitchen / living room on the first floor and a 2 bed bed / 1 bath / kitchen and living open floor concept on the second floor. This home rents as an entire unit all summer and gets great income! 242 8th accommodates all the modern amenities you’ll need with a beach home, while maintaining that classic beach house charm. This property is on a standard 50’x100’ lot. Located in the middle of town on the middle block, this house is a short walk to Surf City’s commercial zone, the ocean, the bay and everything in between! Easy on and off the bridge as well! Don’t miss this opportunity!

Details

Property type

Single Family Residence

Est. home value

$1,024,963

Lot size

5,001 sq ft

Price per sq ft

$1,203

Year built

1950

Annual property taxes

$5,524

HOA

No

Price History

06/19/2024

Bright #NJOC2026338

Price change
$1,299,000
-9.1%
06/07/2024

Bright #NJOC2026338

Listed
$1,429,000
+43.18%
06/16/2022

Bright #NJOC2009580

Sold
$998,027

Schools & Community

Elementary school: 

LBI

Middle school: 

SOUTHERN REGIONAL M.S.

High school: 

SOUTHERN REGIONAL H.S.

School district: 

SOUTHERN REGIONAL SCHOOLS

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$485,536
Asking price
$1,299,000
Closing costs (~8% of asking)
-$103,920
Est. remaining loan balance
-$709,544
Cash to seller
$485,536

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Wells Fargo Bank Na

Loan start date

June 2022

Original loan amount

$731,250

Est. remaining balance

$709,544

Interest rate

5.11%

Loan type

New Conventional, 30 year

Seller

Rachael Mcquillan and Drenan Mcquillan

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 07/03/2024 at 3:20 AM

Listing updated: 06/26/2024 at 9:44 AM

Listed by: Gavin Hodgson, Island Realty-Surf City Phone #: (609) 494-4091

MLS: Bright #NJOC2026338

Bright logo

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