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102 Massachusetts Ave
Cherry Hill, NJ

102 Massachusetts Ave

$475,000
3 bd • 2 ba • 1,412 sf

This analysis was generated by artificial intelligence on 1/25/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$475,000

Price/Sq.Ft

$336

Year Built

1955

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This property offers several attractive features, including a move-in ready condition with updated kitchen (granite countertops, stainless steel appliances) and bathroom. The home has a combination of hardwood and laminate flooring, along with newer recessed lighting. The fenced-in backyard, complete with a new vinyl fence and gazebo, provides a private outdoor space. The newer security camera system, shed, and exterior light fixtures are value-added features. Its location is convenient, with easy access to highways, schools, and shopping centers. The property is also competitively priced at $336.40/sqft.

The Bad

The home's age (built in 1955) means that the roof, HVAC, plumbing, and electrical systems may be nearing the end of their lifespan. The single-car detached garage may not be sufficient for households with multiple vehicles. While the property has been updated, the 1,412 sqft size is smaller than the average single-family home in the area. The moderate flood risk (4/10) and major wind risk (6/10) may lead to higher insurance costs. The school ratings are also moderate (4/10), which may be a concern for families with school-aged children.

The Ugly

The most concerning aspect of this property is the potential for high maintenance costs due to its age. Major systems like the roof, HVAC, and plumbing may need replacement within the next 5-10 years, which could cost $15,000-$30,000. The moderate flood risk (4/10) and major wind risk (6/10) may result in higher insurance premiums, potentially increasing monthly ownership costs. The 72.7% price increase since Jan 2020 may be a red flag, indicating a potential overvaluation. The limited public transportation options in the area could be a drawback for some buyers.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is best suited for first-time homebuyers or small families seeking a move-in ready home in a convenient location. With an estimated monthly mortgage payment of around $2,800 (assuming 20% down and a 7% interest rate), it is ideal for households with a combined income of $100,000 or more. The updated features, including the kitchen and bathroom, appeal to buyers who prefer a modern aesthetic without the need for immediate renovations. The fenced-in backyard and gazebo are perfect for families with young children or those who enjoy outdoor entertaining. This property is also suitable for buyers who value proximity to major highways, schools, and shopping centers.

Not For

This property is not ideal for buyers seeking a large home with multiple living areas or for those who prioritize a low-maintenance lifestyle due to the age of the home and its systems. Buyers who require a two-car garage or have multiple vehicles will find the single-car garage limiting. This property may also not be suitable for buyers who are extremely sensitive to noise, as it is close to highways and may experience some ambient noise. Finally, those seeking a turn-key property with no possibility of potential future costs should look elsewhere due to the age of the home and the potential for maintenance issues.
Demographics
Area Median Income

$93,651

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Risk Assessment

Climate Risks

heatMAJOR

7 extreme heat days per year

98th percentile: 104°F

windMAJOR

Insurance: Required

floodMODERATE

FEMA Zone: X_UNSHADED

Insurance: Recommended

airMODERATE

4 bad air quality days per year

fireMINIMAL

Insurance: Optional

Risk Analysis

The major risks associated with this property include the moderate flood risk (4/10) and major wind risk (6/10), which could result in higher insurance premiums. The age of the home (built in 1955) means that major systems like the roof, HVAC, and plumbing are likely nearing the end of their lifespan and may require significant repairs or replacements in the near future, potentially costing $15,000-$30,000. The property's location, while convenient, also means it is subject to potential traffic noise and air quality issues (4/10 air quality risk with 4 bad air days per year). The 72.7% price increase since Jan 2020 may indicate a potential overvaluation and may reduce the potential for appreciation.
Insurance
Annual Cost

$1,710

$143 per month

Financials

Monthly Costs

Price History

Property Taxes

$8,588
2024 Tax Assessment
1.6%from previous year
Assessed Value$207,800
Tax Rate4.13%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$414,333

-12.8% below list price

Median Price

$415,000

Based on 6 recent sales

Price per Sq.Ft

$311

Comparable Properties

103 E MIAMI AVE, CHERRY HILL, NJ 08034
Price: $350,000
Sq.Ft: 1,408
Beds/Baths: 3/2
$/Sq.Ft:
$24926.1%
Sale Date: 10/24/2024
31 WINDING WAY, CHERRY HILL, NJ 08002
Price: $370,000
Sq.Ft: 1,350
Beds/Baths: 3/2
$/Sq.Ft:
$27418.5%
Sale Date: 10/22/2024
634 3RD AVE, CHERRY HILL, NJ 08002
Price: $451,000
Sq.Ft: 1,320
Beds/Baths: 3/2
$/Sq.Ft:
$3421.6%
Sale Date: 10/28/2024
314 WINDSOR AVE, HADDONFIELD, NJ 08033
Price: $635,000
Sq.Ft: 1,395
Beds/Baths: 3/2
$/Sq.Ft:
$45535.3%
Sale Date: 10/3/2024
4522 CHAMPIONS RUN, CHERRY HILL, NJ 08002
Price: $415,000
Sq.Ft: 1,212
Beds/Baths: 2/2
$/Sq.Ft:
$3421.8%
Sale Date: 11/2/2024
403 PARK PLACE DR, CHERRY HILL, NJ 08002
Price: $265,000
Sq.Ft: 1,312
Beds/Baths: 2/2
$/Sq.Ft:
$20240.0%
Sale Date: 10/1/2024

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