How a lot home can $650K get you? This one in Middletown, NJ

MIDDLETOWN — A township residence ravaged by hearth greater than a yr in the past is boarded up, unlivable — and up on the market at $650,000, asking value.

“Unimaginable Constructing alternative within the Oak Hill part of Middletown,” in line with the itemizing.

It has been posted since December by Monmouth Ocean Regional Realtors and Vincent Tozzo with Century 21 Thompson and Co.

(Vincent Tozzo, Century 21 Thompson & Co/Monmouth Ocean Regional Realtors)

(Vincent Tozzo, Century 21 Thompson & Co/Monmouth Ocean Regional Realtors)

The 2-story residence at 58 Fish Hawk Drive within the Bamm Hole neighborhood caught hearth on Nov. 19, 2020, as beforehand reported by the Middletown Township Fireplace Division and Lincroft Fireplace Firm.

About 55 firefighters from 5 of Middletown’s hearth firms responded to the fireplace on the 4-bedroom, 3-bathroom home, on simply over a half-acre of property.

November 2020 home hearth (Middletown Township Fireplace Division through Fb)

November 2020 home hearth (Middletown Township Fireplace Division through Fb)

Earlier than the fireplace, the property’s 2020 tax evaluation was $489,500, in line with public information.

A yr after the blaze, in November, the property was offered for $250,000 in line with Zillow.

Fireplace-ravaged property on the market in Middletown (Vincent Tozzo, Century 21 Thompson & Co(Monmouth Ocean Regional Realtors)

Fireplace-ravaged property on the market in Middletown (Vincent Tozzo, Century 21 Thompson & Co(Monmouth Ocean Regional Realtors)

It was listed “as-is” a month later and has been available on the market for almost 80 days.

“Situated in a quiet status neighborhood. Design and construct the house you’ve at all times dreamed of ! Construction on land is just not livable residence has intensive hearth injury in want of an entire renovation or tear down and rebuild. Lot dimension is 140×175. The sky is the restrict with the alternatives to customise each element whereas constructing the house you at all times imagined.”

“If it had been actually on hearth the worth discount would prob solely be like $10K, ”an editor with NJ Monitor quipped on Twitter.

By comparability, at the very least three livable 4-bedroom, 3-bathroom houses in Middletown had been listed between $700,000 and $950,000 as of Tuesday.

Two of them had been zoned for a similar elementary, center and excessive faculties because the fire-damaged property, in line with the listings.

building demolition rubble

Getty Inventory / ThinkStock

Working the numbers: Demo and rebuild In NJ

The tough common value to tear down and rebuild a home is $125,000 to $450,000, in line with homeguide.com.

A chart on the web site says a house between 2,500 – 3,000 sq. ft would value between $10,000 to $30,000 for disposal, clean-up and primary website grading.

A web-based calculator helps customers make extra detailed estimates.

“Fireplace gross sales” in Berkeley Heights, Englewood

In one other in style group, Union County’s Berkeley Heights, a severely fire-damaged single-family residence has been listed at $450,000.

Berkeley Heights hearth broken home (GONZALO ALVEZ, SIGNATURE REALTY NJ/Compass.com)

Berkeley Heights hearth broken home (GONZALO ALVEZ, SIGNATURE REALTY NJ/Compass.com)

The property at 41 Putnam Ave. is billed as one other “Nice Alternative to construct your dream home,” in an inventory at Compass by agent Gonzalo Alvez of Signature Realty NJ.

Berkeley Heights hearth broken home (GONZALO ALVEZ, SIGNATURE REALTY NJ/Compass.com)

Berkeley Heights hearth broken home (GONZALO ALVEZ, SIGNATURE REALTY NJ/Compass.com)

The whole 3-bedroom, 1-bathroom residence would should be both demolished or gutted and renovated.

“Fireplace broken property will be knocked down for an entire new construct or you are able to do a complete renovation and add-a-level on the present basis,” in line with the Berkley Heights itemizing.

Fireplace broken home in Englewood (EXP Realty, LLC through ColdWellBankerHomes)

Fireplace broken home in Englewood (EXP Realty, LLC through ColdWellBankerHomes)

A 3rd, severely fire-damaged property in Bergen County’s Englewood was listed in June 2021 with a disclaimer saying “enter at your personal danger.”

By December, that fire-ravaged home listed by EXP Realty had offered for $250,000.

Erin Vogt is a reporter and anchor for New Jersey 101.5. You’ll be able to attain her at [email protected]

Click on right here to contact an editor about suggestions or a correction for this story.

2021 NJ property taxes: See how your city compares

Discover your municipality on this alphabetical listing to see how its common property tax invoice for 2021 compares to others. You too can see how a lot the typical invoice modified from 2020. For an interactive map model, click on right here. And for the total evaluation by New Jersey 101.5, learn this story.

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