621 South Main Street

Phillipsburg, NJ 08865

$995,000
Price
12
Beds
4
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Investment Opportunity on Main Street, Phillipsburg, NJ. Welcome to a prime investment opportunity nestled in the heart of Phillipsburg, NJ, where convenience meets comfort! 4 units each unit has 3 bed/1bath with fully finished attic and unfinished basement. Located right on S Main St, this multifamily property offers unparalleled accessibility to schools, shopping centers, and all the town amenities one could desire. Fully Renovated: This three-story gem boasts modern upgrades throughout, featuring...Investment Opportunity on Main Street, Phillipsburg, NJ. Welcome to a prime investment opportunity nestled in the heart of Phillipsburg, NJ, where convenience meets comfort! 4 units each unit has 3 bed/1bath with fully finished attic and unfinished basement. Located right on S Main St, this multifamily property offers unparalleled accessibility to schools, shopping centers, and all the town amenities one could desire. Fully Renovated: This three-story gem boasts modern upgrades throughout, featuring three spacious bedrooms, a sleek bathroom, and a finished attic space that can easily serve as a fourth bedroom or an office/gym/den or multipurpose space. New windows in some of the units, brand new water heater in one of the units. Each unit comes with its own designated parking space. 100% occupied with tenants. Why Invest Here? Cash Flow King: With its fully occupied status and prime location, this property promises a lucrative return on investment, ensuring your money works hard for you. Rare Gem: Opportunities like this don't come often! Seize the chance to own a piece of Main Street real estate, where demand is high and vacancy rates are low. Tax-Friendly: Enjoy the benefit of low real estate taxes, maximizing your profits and minimizing your expenses. Don't miss out on this exceptional investment opportunity that promises both immediate returns and long-term appreciation. Gross annual rental income $97,500 & only $8000 in taxes!
  1. Listed by GEORGE E. MIKHAEL • REAL

Property Details for 621 South Main Street

Directions
Rt 22 w, then 519 then right on S Main St.
Days On Market
24

Location

Listing Courtesy of REAL, GEORGE E. MIKHAEL
Add your commute
LISTING UPDATED: 05/30/2024 08:51 PM

Property Details for 621 South Main Street

StatusUnder Contract
MLS #3900257
Days on Market24
Taxes$8,000 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / 3-Three Story
Year Built1925
Lot Size-
CountyWarren County

Location

Listing Courtesy of REAL, GEORGE E. MIKHAEL
Add your commute

Building Information for 621 South Main Street

Stories-Residences4Year Built1925Building Size-Lot Size-

Payment Calculator

$6,097 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,430

Property Taxes

$667

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 621 South Main Street

Summary
Location and General Information
  • Active Days on Market: 24
  • Renovated Year: 2024
  • County #: Warren
  • Town Name: Phillipsburg Town
  • Block Identifier: 1903
  • Listing Type: Exclusive Right to Sell
  • Town #: 3019.0
  • # Parking Spaces: 4
  • County Or Parish: Warren
  • Street Name: S Main St
  • Zip Code: 08865-3117
  • Total Units: 4
Taxes and HOA Information
  • Tax Amount: $8,000
  • Assessment Total: 75000.0
  • Tax ID For Property: 3019-01903-0000-00010-0000-
  • Tax Year: 2023
Parking
  • Parking/Driveway Description: 1 Car Width, Gravel, On-Street Parking, Parking Lot-Exclusive
Property
Lot Information
  • Lot Identifier: 10
  • Approximate Lot Size: 7150
  • Construction Date/Year Built: 1925
  • Construction Date/Year Built Des: Approximate
Property and Assessments
  • Farm Assessment: No
Utilities
  • Cooling: Wall A/C Unit(s)
  • Utilities: Gas-Natural
  • Heating: Cent Register Heat
  • Fuel Type: Gas-Natural
Interior and Exterior Features
Exterior Features
  • Exterior Description: Brick
  • Exterior Features: Open Porch(es)
Interior Features
  • Interior Features: Blinds, Carbon Monoxide Detector, Drapes, Fire Extinguisher, Smoke Detector, Tile Floors, Walk-In Closet, Wood Floors
  • Roof Description: Composition Shingle
  • Basement: Yes
  • Basement Description: Unfinished
  • Easement: No
Multi Family
Unit 1 Information
  • Unit 1 Appl/Equip: Carbon Monoxide Detector, Dishwasher, Dryer, Microwave Oven, Range/Oven - Electric, Refrigerator, Smoke Detector, Washer
  • Unit 1 Baths: 1.0
  • Unit 1 Bedrooms: 3
  • Unit 1 Fireplaces: 0.0
  • Unit 1 Handicap Modified: No
  • Unit 1 Levels: 3.0
  • Unit 1 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 1 Rent: 2075.0
  • Unit 1 Room Description: Attic, Bedrooms, Dining Room, Family Room, Kitchen, Living Room
  • Unit 1 Rooms: 10.0
  • Unit 1 Security Deposit: 2000.0
  • Unit 1 Sq Ft: 1400.0
Unit 2 Information
  • Unit 2 Appl/Equip: Carbon Monoxide Detector, Dishwasher, Dryer, Microwave Oven, Range/Oven - Electric, Refrigerator, Smoke Detector, Washer
  • Unit 2 Baths: 1.0
  • Unit 2 Bedrooms: 3
  • Unit 2 Fireplaces: 0.0
  • Unit 2 Handicap Modified: No
  • Unit 2 Levels: 3.0
  • Unit 2 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 2 Rent: 2000.0
  • Unit 2 Room Description: Attic, Bedrooms, Dining Room, Family Room, Kitchen, Living Room
  • Unit 2 Rooms: 10.0
  • Unit 2 Security Deposit: 2000.0
  • Unit 2 Sq Ft: 1400.0
Unit 3 Information
  • Unit 3 Appl/Equip: Carbon Monoxide Detector, Dishwasher, Dryer, Microwave Oven, Range/Oven - Electric, Refrigerator, Smoke Detector, Washer
  • Unit 3 Baths: 1.0
  • Unit 3 Bedrooms: 3
  • Unit 3 Fireplaces: 0.0
  • Unit 3 Handicap Modified: No
  • Unit 3 Levels: 3.0
  • Unit 3 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 3 Rent: 2050.0
  • Unit 3 Room Description: Attic, Bedrooms, Dining Room, Family Room, Kitchen, Living Room
  • Unit 3 Rooms: 10.0
  • Unit 3 Security Deposit: 2000.0
  • Unit 3 Sq Ft: 1400.0
Unit 4 Information
  • Unit 4 Appl/Equip: Carbon Monoxide Detector, Dishwasher, Microwave Oven, Range/Oven - Electric, Refrigerator, Smoke Detector, Washer
  • Unit 4 Baths: 1.0
  • Unit 4 Bedrooms: 3
  • Unit 4 Fireplaces: 0.0
  • Unit 4 Handicap Modified: No
  • Unit 4 Levels: 3.0
  • Unit 4 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 4 Rent: 2075.0
  • Unit 4 Room Description: Attic, Bedrooms, Dining Room, Family Room, Kitchen, Living Room
  • Unit 4 Rooms: 10.0
  • Unit 4 Security Deposit: 2050.0
  • Unit 4 Sq Ft: 1400.0
Multi-Family Information
  • Unit Style: 3-Three Story
Income & Expenses Information
  • Total Operating Expense: $13,900.00
  • Expenses Include: Cold Water, Insurance, Taxes
  • Net Operating Income: $83,600.00
  • Gross Operating Income: $97,500.00
Rental
Rental Information
  • Home Warranty: false

Property History for 621 South Main Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 621 South Main Street

Taxable ValueLand$10,800Additions$34,000Total$44,800
Tax Record2022$1,858 ($155 / month)
Home Facts
Beds0Total Finished SqFt1,344 SqFtAbove Grade Finished SqFt1,344 SqFtStories2Lot Size1,786 SqFtStyleSingle Family ResidenceYear Built1925ZoningR-50CountyWARRENAPN19 01903-0000-00010

Schools near 621 South Main Street

This home is within Phillipsburg School District.
Rating
School
Type
Grades
Distance
Public - PK to 1
Public - 6 to 8
Public - 9 to 12
Public - 3 to 5
Rating
School
Distance
Phillipsburg Early Child
PublicPK to 1

Phillipsburg Middle School
Public6 to 8

Phillipsburg High School
Public9 to 12

Green Street Elementary School
Public3 to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of REAL, GEORGE E. MIKHAEL

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