8 Drake Street

Bound Brook, NJ 08805

$499,000
Last Sold Price
5
Beds
2
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Amazing up and down multi-family opportunity for an investor to live in one unit and rent out the other, or rent out both and cashflow. Charming porch welcomes you at entry. The vacant downstairs features a renovated 2 bed, 1 bath with updated white kitchen and gorgeous bathroom. Enjoy the brand new floors and new paint throughout. The upstairs 3 bed, 1 bath unit is currently tenant occupied on a month-to-month lease. Annual numbers: 2022 Sewer Tax: $994, American water bill for 2021: $1,278 at 100%...Amazing up and down multi-family opportunity for an investor to live in one unit and rent out the other, or rent out both and cashflow. Charming porch welcomes you at entry. The vacant downstairs features a renovated 2 bed, 1 bath with updated white kitchen and gorgeous bathroom. Enjoy the brand new floors and new paint throughout. The upstairs 3 bed, 1 bath unit is currently tenant occupied on a month-to-month lease. Annual numbers: 2022 Sewer Tax: $994, American water bill for 2021: $1,278 at 100% occupancy, Refuse Tax: $488. The tenants pay their own gas/electric to PSEG. Total Annual Operating Expense: $11,290. This well-maintained building is situated in the heart of Bound Brook, only a minute from Target, Costco, Highways etc. Great Opportunity! Make an offer today!
  1. Listed by LINDA THELL • SIGNATURE REALTY NJ

Property Details for 8 Drake Street

Directions
gps
Days On Market
38

Location

Add your commute
LISTING UPDATED: 08/20/2023 03:03 AM

Property Details for 8 Drake Street

StatusSold
MLS #3790187
Days on Market38
Taxes$6,846 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1930
Lot Size0.06 AC / 2,613 SF
CountySomerset County

Location

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Building Information for 8 Drake Street

Stories-Residences2Year Built1930Building Size-Lot Size0.06 AC / 2,613 SF

Payment Calculator

$3,294 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,723

Property Taxes

$571

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 8 Drake Street

Summary
Location and General Information
  • Active Days on Market: 38
  • Renovated Year: 2021
  • County #: Somerset
  • Town Name: Bound Brook Boro
  • Block Identifier: 7
  • Listing Type: Exclusive Right to Sell
  • Town #: 2704.0
  • Street # Display: 8.0
  • # Parking Spaces: 2
  • County Or Parish: Somerset
  • Street Name: Drake St
  • Zip Code: 08805-1904
  • Total Units: 2
Taxes and HOA Information
  • Assess Total Tax: *
  • Assess Amt Land Tax: *
  • Assess Amt Bldg Tax: *
  • Block ID Tax: *
  • Acres Tax: *
  • County Tax: *
  • Tax Amount: $6,846
  • Street name Tax: *
  • Zip Code Tax: *
  • Street # Tax: *
  • City Tax: *
  • Tax Amount Tax: *
  • Assessment Total: 307200.0
  • Tax ID For Property: 2704-00007-0000-00033-0000-
  • Tax Rate Amount: $3
  • Tax Rate Tax: *
  • Tax Rate Year: 2021
  • Tax Year: 2021
  • Tax Year Tax: *
  • Lot ID Tax: *
  • Lot Size Tax: *
Parking
  • Parking/Driveway Description: 1 Car Width, Off-Street Parking
  • Garage Description: None
Property
Lot Information
  • Lot Description: Level Lot
  • Lot Identifier: 33
  • Approximate Lot Size: 37X74
  • Total Acres: 0.06
  • Construction Date/Year Built: 1930
  • Construction Date/Year Built Des: Approximate, Renovated
Property and Assessments
  • Assessment Bldg: 204800.0
  • Assessment Land: 102400.0
  • Farm Assessment: No
Utilities
  • Cooling: Window A/C(s)
  • Services: Cable TV Available
  • Utilities: Electric, Gas-Natural
  • Water: Public Water
  • Water Heater: Gas
  • Heating: Baseboard - Hotwater
  • Fuel Type: Electric, Gas-Natural
  • Sewer: Public Sewer
Interior and Exterior Features
Exterior Features
  • Exterior Description: Brick, Vinyl Siding
  • Exterior Features: Curbs, Open Porch(es), Storm Door(s)
Interior Features
  • Interior Features: Blinds, Carbon Monoxide Detector, Fire Extinguisher, See Remarks, Smoke Detector
  • Roof Description: Asphalt Shingle
  • Basement: Yes
  • Basement Description: Bilco-Style Door, Full, Unfinished
  • Easement: Unknown
Multi Family
Unit 1 Information
  • Unit 1 Appl/Equip: Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
  • Unit 1 Baths: 1.0
  • Unit 1 Bedrooms: 2
  • Unit 1 Fireplaces: 0.0
  • Unit 1 Handicap Modified: No
  • Unit 1 Levels: 1.0
  • Unit 1 Owner/Tenant Pays: Tenant Pays Electric, Tenant Pays Heat
  • Unit 1 Rent: 0.0
  • Unit 1 Room Description: Bedrooms, Eat-In Kitchen, Kitchen, Living Room, Porch, Storage
  • Unit 1 Rooms: 5.0
  • Unit 1 Security Deposit: 0.0
  • Unit 1 Sq Ft: 919.0
Unit 2 Information
  • Unit 2 Appl/Equip: Carbon Monoxide Detector, Dryer, Range/Oven - Gas, 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: 2.0
  • Unit 2 Owner/Tenant Pays: Owner Pays Water
  • Unit 2 Rent: 1500.0
  • Unit 2 Room Description: Attic, Bedrooms, Eat-In Kitchen, Living Room, Storage
  • Unit 2 Rooms: 6.0
  • Unit 2 Security Deposit: 2250.0
  • Unit 2 Sq Ft: 919.0
Multi-Family Information
  • Unit Style: 2-Two Story
Income & Expenses Information
  • Total Operating Expense: $99,999,999.00
  • Expenses Include: Hot & Cold Water, Insurance, Maintenance, Taxes
  • Net Operating Income: $99,999,999.00
  • Gross Operating Income: $99,999,999.00
Rental
Rental Information
  • Home Warranty: false

Property History for 8 Drake 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 8 Drake Street

Taxable ValueLand$127,400Additions$246,200Total$373,600
Tax Record2022$7,643 ($637 / month)
Home Facts
Total Finished SqFt1,806 SqFtAbove Grade Finished SqFt1,806 SqFtStories2Lot Size2,738 SqFtStyleDuplexYear Built1918CountySOMERSETAPN04 00007-0000-00033

Schools near 8 Drake Street

This home is within Bound Brook School District.
Rating
School
Type
Grades
Distance
Public - 1 to 2
Public - 7 to 8
Public - 9 to 12
Public - 3 to 6
Rating
School
Distance
Lafayette Elementary School
Public1 to 2

Community Middle School
Public7 to 8

Bound Brook High School
Public9 to 12

Smalley Elementary School
Public3 to 6

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.

Similar Homes

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Similar Sold Homes

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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 SIGNATURE REALTY NJ, LINDA THELL

The data relating to the real estate for sale and sold listing information on this website comes from the New Jersey Multiple Listing Service, Inc. Virtual Office Website (VOW) program. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. Sold listings may have been listed and/or sold by a real estate brokerage other than (insert office name). All information deemed reliable but not guaranteed. NLMLS makes no representation or warranty regarding the accuracy of the data. This data and information is protected under federal copyright laws which prohibit the unauthorized copying or alternation of all or any part of copyrighted materials, including certain compilations of data and information. Copyright violators may be subject to severe fines and penalties under federal law. Source: New Jersey Multiple Listing Service Inc. Last date updated 05/07/2024 07:42 AM © 2024 New Jersey Multiple Listing Service Inc. All rights reserved.