Score
0Edgewater, NJ
332 Undercliff Ave
1.1M
3 beds
3 baths
3 bd • 3 ba • sf
This analysis was generated on 2/7/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$1,099,000
Price/Sq.Ft
$1,099,000
Year Built
1918
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Recent Renovations: The property has been recently renovated, potentially offering modern amenities and updated finishes. The "chef's dream kitchen" and "spa-like" bathrooms are attractive selling points.
• Proximity to NYC: The property's location near local and mass transportation provides easy access to New York City, making it appealing for commuters. The property description also mentions proximity to the Edgewater Towne Center for shopping and dining.
• Parking: Rear parking for 3-4 cars is a significant advantage in Edgewater, where parking can be limited. This feature adds convenience and value for buyers with multiple vehicles or frequent guests.
• Three Full Bathrooms: Having three full bathrooms is a desirable feature, especially for families or those who entertain frequently. This adds convenience and functionality to the home.
• Finished Basement: The full finished basement provides additional living space, which can be used as a family room, recreation area, or home office. A basement bath adds additional convenience.
The Bad
• Unknown Square Footage: The lack of listed square footage makes it difficult to assess the property's true value and compare it to other homes in the area. Without this information, buyers may overpay for the space they are getting.
• High Price Point: At $1,099,000, the property is priced at the higher end of the Edgewater market, especially considering the unknown square footage and potential for hidden issues in an older home. Median household income is $126,483, meaning this property is only affordable to a small percentage of the population.
• Limited Information on Renovations: The property description mentions "too many upgrades to list," but lacks specific details about the renovations. Buyers should inquire about the scope of work, permits, and warranties to ensure quality and compliance.
• Long Days on Market: With 269 days on the market, the property has been listed for an extended period, suggesting potential issues with pricing, condition, or market appeal. The average days on market for Edgewater properties should be researched for comparison.
• Price Reduction History: Multiple price reductions over a relatively short period (from $1,588,000 to $1,099,000 in less than a year) indicate that the initial asking price was likely too high and that the seller is struggling to find a buyer at the current price.
The Ugly
• Age of Property: Built in 1918, the property is over 100 years old and may have significant structural or mechanical issues that require costly repairs or upgrades. Older homes may also contain hazardous materials like lead paint or asbestos.
• Climate Risks: While flood and fire risk are minimal (1/10), the property faces severe heat risk (7/10) and major wind risk (6/10). These risks could increase insurance costs and require additional mitigation measures. The air quality risk is moderate (4/10), with 5 bad air days per year.
• Decreasing Price: The property has had numerous price decreases, indicating a potential overvaluation or underlying issues that are deterring buyers. This pattern suggests that the seller may be motivated to sell quickly, but it also raises concerns about the property's true value.
• High Estimated Insurance: The estimated insurance cost of $3,956.4 per year is relatively high, suggesting potential risks associated with the property's location or condition. It is essential to obtain accurate insurance quotes and understand the coverage details.
• Lack of Square Footage: The missing square footage information makes it impossible to accurately assess the price per square foot and compare the property to others in the area. This lack of transparency raises red flags and makes it difficult to determine the property's true value.
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
• Buyers Seeking a Renovated Home Near NYC Transportation: The property's proximity to mass transit and recent renovations make it attractive for those commuting to New York City who value modern updates and convenience.
• Individuals Prioritizing Modern Kitchen and Bathrooms: The "chef's dream kitchen" with quartz counters and "spa-like" bathrooms with rain shower heads are ideal for buyers who appreciate high-end finishes and modern amenities.
• Buyers Needing Ample Parking: With rear parking for 3-4 cars, this property is suitable for buyers with multiple vehicles or frequent guests, a significant advantage in Edgewater where parking can be limited.
• Individuals Valuing Finished Basement Space: The full finished basement with a bathroom and family room provides additional living space, making it attractive to those who need extra room for recreation or storage.
• Buyers Comfortable with Estimated Monthly Costs of $7,500+: Individuals who have evaluated their budgets and can manage these expenses without exceeding their personal debt-to-income preferences (around 33%)—including mortgage, taxes, and insurance.
Not For
• Buyers on a Tight Budget: The high price point and property taxes in Edgewater may make this property unaffordable for buyers with limited financial resources. The additional costs of homeownership, such as maintenance and potential HOA fees, should also be considered.
• Individuals Requiring a Large Yard: The property's description mentions a "private patio" but does not specify a large yard. Buyers seeking ample outdoor space for recreation or gardening may find this property unsuitable.
• Buyers Sensitive to Noise: Given Edgewater's high density and ongoing development, the property may be subject to noise from traffic, construction, or neighboring properties. Buyers seeking a quiet and tranquil environment may want to explore other options.
• Individuals Unwilling to Deal with Limited Parking: While the property offers rear parking for 3-4 cars, parking can still be a challenge in Edgewater. Buyers who require guaranteed parking for multiple vehicles or guests may encounter difficulties.
• Buyers Seeking a Turn-Key Property: Despite being recently renovated, older homes can present unexpected maintenance issues. Those looking for a completely worry-free purchase might consider newer construction.
Demographics
Area Median Income
$126,483
Property History
Price History
Ownership Timeline
$362,000Cash Purchase
Sep 16, 2024H Fix And Flips LlcNader Haddad
Deed
Standard Sale (Purchase/Resales)
$313,000Financed
Mar 21, 2023Anastasia M Clarke Jackson, Edward Timothy ClarkeH Fix And Flips Llc
Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Feb 10, 2003Estate Of Mary E ClarkeEllen M Clarke
Deed
Non-Residential Arm's Length Transactions
Property Taxes
$9,375
2024 Tax Assessment
12.7%from previous year
Assessed Value$590,000
Tax Rate1.59%
Sunlight Analysis
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Schools
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Financials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$1,980
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