For SaleRisky Deal14 days on market
3 Somerset Ln #501
3 Somerset Ln #501, Edgewater, NJ 07020, Edgewater, NJ 07020
$885,000
Estimate®:$880,400
Listing Price
3 Somerset Ln #501, Edgewater, NJ 07020
Loc: Edgewater, NJ
Days Listed
14
Tax Assessed
$785k
Estimate®
$880k
Market Rate
Rent Estimate
$4,985/mo
Est. Cash Flow base
Type
condo
More Than Just a Property
We believe a home extends beyond its walls. That's why we help you explore the pulse of the community—from top-rated schools to essential emergency services. Your safety, well-being, and connection to the neighborhood matter to us.
4.9
Safety Score
A+
Schools
Nearby Schools
Educational options and performance ratings in the area.
8
Eleanor Van Gelder Elementary School
3-6
1.6 mi away
N/A
George Washington School
PK-2
3 mi away
Property Overview
No property narrative or remarks were supplied in the source listing records. Underwriting and financial metrics are calculated directly from public record data and MLS attributes.
Features & Amenities
modernopen-conceptgourmet-kitchenhardwood-flooringstainless-steel-appliancesquartz-countertopshigh-ceilingscontemporary-designbright-and-airybreakfast-barbalcony-accessluxury-apartmentneutral-paletterecessed-lighting
Haven AI Verdict
Recommendation
Risky
Confidence Score: 5/10
Exercise caution due to potential market volatility.
Cap Rate
2.13%
Total ROI
5.1%
Cash Flow
$-3,021/mo
DSCR
0.34
Was this AI Verdict accurate?
Data provided by Haven AI. Disclaimer
Haven AI
Property yields an estimated $-3,021/mo net cash flow with a 2.1% cap rate. Underwriting indicates risky fundamentals for long-term hold.
Strengths
- • Prime residential location in Edgewater, NJ
- • Long-term capital appreciation corridor
Considerations
- • Verify historical operating expenses and local tax assessment
- • Confirm current lease terms and tenant estoppel certificates
10-Year Price Projection
Price & Tax History
Price History
| Date | Event | Price | Price/sqft |
|---|---|---|---|
| 2026-09-10 | Listed for sale | $885,000 | $804 |
| 2026-08-23 | Listing removed | $885,000 | $804 |
| 2026-07-27 | Listed for sale | $885,000 | $804 |
| 2024-07-12 | Listing removed | $0 | – |
| 2024-06-26 | Listed for rent | $4,850 | $4 |
| 2023-07-31 | Listing removed | $0 | – |
| 2023-07-13 | Price change | $4,600 | $4 |
| 2023-06-01 | Listed for rent | $4,850 | $4 |
| 2022-05-31 | Listing removed | $0 | – |
| 2022-02-02 | Listed for sale | $850,000 | $772 |
| 2019-03-14 | Sold | $825,000 | $749 |
Tax History
| Year | Property Tax | Tax Assessment |
|---|---|---|
| 2026 | $12,268.41 | $784,700 |
| 2025 | $11,850.76 | $745,800 |
| 2024 | $11,482.11 | $722,600 |
| 2023 | $11,453.68 | $717,200 |
| 2022 | $11,935.25 | $740,400 |
| 2021 | $12,785.78 | $567,500 |
| 2020 | $10,759.8 | $567,500 |
| 2019 | $6,736.28 | $567,500 |
| 2018 | $6,736.28 | $367,500 |
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