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250 Spring Street

TRENTON, NJ 08618
  • $165,000
  • STATUS: Active
  • ON SITE: 30 days
  • ID#: NJME2000654
UPDATED: 37 min ago
$165,000
  • 6
    BEDS
  • 0.05
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 3,200
    SQFT
  • $52
    $/SQFT
Neighborhood:
Type:
Villa/Townhouse
Built:
1887
County:

School Ratings & Info

School District:

Description

Large 3-Story Victorian home located in the Central West neighborhood. Property is 3 blocks walking distance to waterfront and downtown. With over 3,200 SF, property has 6 large bedroom, 2 baths, a bay window, and a 2nd floor balcony. The back yard is private and a good size. Additional lot can be included in the sale, conditional upon a reasonable offer, which would provide off street parking and additional yard area. Sold unoccupied, as-is. Previous rent roll was $3,500/mo. Property requires remodeling and repairs. The after repair value (ARV) is estimated to be $272,000. Property taxes are low, at just under $2,500/yr. A lot of new construction and rehabs are happening on the block and nearby. Home is perfect for a homeowner looking for a large historic home they can make their own. Also great for an investor looking to convert to multifamily or a rooming house. Check with Trenton City rooming board for licensing information. The 2021 fair market rent (FMR) established by HUD for Mercer County: $761 for single room occupancy (SRO), or $2,750 for a 6 bedroom. Property has room to expand third floor, up to 800 SF, allowing for 2-4 extra bedrooms. The FMR for 8 bedrooms is $3,370, for 9 bedrooms $3,690, and $4,000 for 10 bedrooms. HUGE potential. Great opportunity for new and seasoned investors. NJ eviction moratorium in effect until January 2022 - vacant building means you don+GGt need to evict low rent/problem tenants. As an investor or homeowner, you can begin your renovation plans on Day 1. This downtown-adjacent neighborhood is the next to rise. Neighboring Mill Hill has comparable homes listed for over $300,000.

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Drayton Young. 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. Data last updated: 2021-07-24T10:53:56.86.
www.draytonyounggroup.com/homes/118608336
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250 Spring Street TRENTON, NJ 08618

  • Price: $165,000
  • Status: Active
  • Updated: 37 min ago
  • ID#: NJME2000654
6
Beds
2
Baths
0
½ Baths
0.05
Acres
3,200
SQFT
$52
$/SQFT
1887
Built
Neighborhood:
None Available
County:
Mercer
Area:
Trenton City (21111)
School District:
Trenton Public Schools
Property Description
Large 3-Story Victorian home located in the Central West neighborhood. Property is 3 blocks walking distance to waterfront and downtown. With over 3,200 SF, property has 6 large bedroom, 2 baths, a bay window, and a 2nd floor balcony. The back yard is private and a good size. Additional lot can be included in the sale, conditional upon a reasonable offer, which would provide off street parking and additional yard area. Sold unoccupied, as-is. Previous rent roll was $3,500/mo. Property requires remodeling and repairs. The after repair value (ARV) is estimated to be $272,000. Property taxes are low, at just under $2,500/yr. A lot of new construction and rehabs are happening on the block and nearby. Home is perfect for a homeowner looking for a large historic home they can make their own. Also great for an investor looking to convert to multifamily or a rooming house. Check with Trenton City rooming board for licensing information. The 2021 fair market rent (FMR) established by HUD for Mercer County: $761 for single room occupancy (SRO), or $2,750 for a 6 bedroom. Property has room to expand third floor, up to 800 SF, allowing for 2-4 extra bedrooms. The FMR for 8 bedrooms is $3,370, for 9 bedrooms $3,690, and $4,000 for 10 bedrooms. HUGE potential. Great opportunity for new and seasoned investors. NJ eviction moratorium in effect until January 2022 - vacant building means you don+GGt need to evict low rent/problem tenants. As an investor or homeowner, you can begin your renovation plans on Day 1. This downtown-adjacent neighborhood is the next to rise. Neighboring Mill Hill has comparable homes listed for over $300,000.
Exterior Features

Architectural Style Victorian Construction Materials Brick Exterior Features Sidewalks Garage YN No Lot Features Additional Lot(S)Backs To TreesRear YardPrivate Other Structures Above Grade Parking Types Off Street Patio And Porch Features Balconies- Multiple Pool No Pool Property Condition Below AverageMajor Rehab Needed Riparian Rights YN No Roof RubberTileOther Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 3200 Appliances Stove Basement Interior Access Basement YN Yes Cooling Attic FanOther Fireplace Features MarbleBrick Fireplace YN Yes Fireplaces Total 2 Flooring Hardwood Heating Radiator Heating YN Yes Interior Features Additional Stairway Laundry Type Basement Levels 3 Main Level Bedrooms 0 Pets Allowed No Pet Restrictions Rooms Total 11 Upper Level1 Bedrooms 6

Property Features

Accessibility Features None Assessment Year 2020 Association YN No Central Air YN No Condo YN No Cooling Fuel Electric Heating Fuel Other Hot Water 60+ Gallon Tank Municipality Trenton City Navigable Water YN N New Construction YN No Original MLSNumber 800787589808 Ownership Interest Fee Simple Pets Allowed YN Yes Possession 0-30 Days Cd Sale Type Standard Senior Community YN No Sewer Public Sewer Structure Design Type Twin/Semi-Detached Tax Annual Amount 44600.00 Tax Assessment Amount 44600.00 Utilities Above GroundCable TvElectric AvailableNatural Gas AvailablePhone AvailableSewer AvailableWater Available Vacation Rental YN No Water Source Public Year Built Effective 2000 Zoning R2

Listing courtesy of Lovi Real Estate, Llc.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use 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 may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Drayton Young. 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. Data last updated: 2021-07-24T10:53:56.86.
 
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