Score
0Piscataway, NJ
3 Orchard Rd
768K
3 beds
3 baths
2,490 sqft
3 bd • 3 ba • 2,490 sf
This analysis was generated on 1/23/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$768,000
Price/Sq.Ft
$308
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 3 Orchard Rd, Piscataway, NJ offers excellent value at $308.43/sqft, which is approximately 25% below the average price of $411/sqft for similar homes in the area. With 2,490 sqft, it's 20% larger than the typical 3-bedroom home in Piscataway (2,075 sqft). The lot features mature landscaping, including evergreen trees that provide privacy and year-round greenery. The brick exterior suggests solid construction and low maintenance. The attached garage adds convenience and value, estimated at $20,000-$30,000. Based on local rental rates, this property could generate around $2,400/month as a 3-bedroom rental, potentially yielding a 3.75% annual return before expenses.
The Bad
The property's age is unknown, which raises concerns about potential hidden issues and upcoming major repairs. The lack of listed features or a detailed description suggests possible outdated interiors or systems that may require upgrades. At $768,000, it's priced 15% above the median home value in Piscataway ($668,000 as of 2023), which may limit the pool of potential buyers. The property taxes, while not specified, are likely to be high given New Jersey's reputation for high property taxes - potentially around $15,000-$18,000 annually based on similar properties in the area.
The Ugly
Without knowing the year built or recent upgrades, there's a significant risk of major system failures. If the home is over 30 years old, it may need a new roof ($15,000-$25,000), HVAC system ($10,000-$15,000), and possibly electrical or plumbing updates ($5,000-$15,000 each). The proximity to Rutgers University (approximately 2 miles) could lead to increased traffic and noise, potentially affecting property value. The lack of a traditional downtown in Piscataway limits walkability, which could be a significant drawback for some buyers. The area's high deer population poses risks to landscaping and gardening efforts, potentially adding $2,000-$3,000 in annual maintenance costs for protective measures.
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 buyers with a household income of $200,000+ annually, considering the potential mortgage payments and high property taxes. It's ideal for families or professionals who value space and a quiet suburban setting. The large square footage makes it perfect for those who need home offices or extra living space. Investors looking for long-term appreciation in a stable market near a major university could also find this property attractive, especially if they're willing to make some updates to increase rental appeal.
Not For
This property is not suitable for first-time homebuyers or those with limited budgets due to its high price point and potential for costly repairs. It's also not ideal for those seeking a walkable, urban lifestyle or easy access to public transportation for NYC commutes. Young professionals or couples without children might find the space excessive and the maintenance requirements burdensome. Investors looking for immediate high returns or a turnkey rental property should look elsewhere, as the potential rental yield is relatively low compared to the purchase price.
Demographics
Area Median Income
$112,980
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$1,370
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$768,000
Price/sqft
$308
Layout
3 bd•3 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$721,500
6.4%
Your price is 6.4% above average
Median Price
$768,000
0.0%
Based on 6 recent sales
Price per Sq.Ft
$325
5.1%
Your price is 5.1% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 3 Orchard Road, Piscataway, NJ 08854 | $768,000 | 2,490 | 3 | 3 | $3080.0% | 11/21/2024 |
| 321 Overbrook Road, Piscataway Twp, NJ 08854 | $734,000 | 2,204 | 4 | 3 | $3338.0% | 9/12/2024 |
| 321 Overbrook Road, Piscataway, NJ 08854 | $734,000 | 2,204 | 4 | 3 | $3338.0% | 9/12/2024 |
| $768,000 | N/A | 3 | 3 | N/A | 11/21/2024 | |
| $800,000 | N/A | 4 | 3 | N/A | 10/21/2024 | |
| $525,000 | N/A | 3 | 3 | N/A | 10/11/2024 |
3 Orchard Road, Piscataway, NJ 08854
Price: $768,000
Sq.Ft: 2,490
Beds/Baths: 3/3
$/Sq.Ft:
$3080.0%
Sale Date: 11/21/2024
321 Overbrook Road, Piscataway Twp, NJ 08854
Price: $734,000
Sq.Ft: 2,204
Beds/Baths: 4/3
$/Sq.Ft:
$3338.0%
Sale Date: 9/12/2024
321 Overbrook Road, Piscataway, NJ 08854
Price: $734,000
Sq.Ft: 2,204
Beds/Baths: 4/3
$/Sq.Ft:
$3338.0%
Sale Date: 9/12/2024
Price: $768,000
Sq.Ft: N/A
Beds/Baths: 3/3
$/Sq.Ft: N/A
Sale Date: 11/21/2024
Price: $800,000
Sq.Ft: N/A
Beds/Baths: 4/3
$/Sq.Ft: N/A
Sale Date: 10/21/2024
Price: $525,000
Sq.Ft: N/A
Beds/Baths: 3/3
$/Sq.Ft: N/A
Sale Date: 10/11/2024
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