Score
0Jersey City, NJ
347 Pavonia Ave #6
725K
2 beds
2 baths
1,410 sqft
2 bd • 2 ba • 1,410 sf
This analysis was generated on 2/15/2025. 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
$725,000
Price/Sq.Ft
$514
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Prime Downtown Jersey City Location: Situated just blocks from Hamilton Park and near the Pedestrian Plaza, the property offers convenient access to amenities, recreation, and dining. This is a highly desirable location for many buyers.
• Proximity to NYC Transportation: The Grove Street PATH station provides easy access to New York City, making this an ideal location for commuters.
• Unique Carriage House Design: The 3-story carriage house design offers a unique and charming living space with vaulted ceilings, oversized windows, and a carved wooden banister. This sets it apart from typical condo units.
• Modern Upgrades: The property features modern upgrades such as a video entry system, temperature control, smart mirrors, and stainless steel appliances. These features appeal to today's buyers.
• HOA Includes Water: The inclusion of water in the HOA fees simplifies budgeting and reduces monthly expenses.
The Bad
• High Flood Risk: A flood risk of 7/10 and FEMA Zone AE designation presents a significant concern. This will likely result in high flood insurance premiums, potentially exceeding the estimated $2,610 per year, and could impact resale value. The surrounding area's average flood risk should be researched for comparison.
• Unknown Year Built: The lack of information on the year the property was built is concerning. This makes it difficult to assess the building's structural integrity, potential maintenance needs, and compliance with current building codes.
• Wall Unit(s) for Cooling: Relying solely on wall units for cooling is less efficient and potentially more costly than central air conditioning, especially given Jersey City's hot summers. This could also be a deterrent for some buyers. Upgrading to central air could cost between $5,000 - $10,000.
• School Ratings: The assigned public schools have relatively low ratings (5/10 and 2/10), which may be a drawback for families with children. This could limit the pool of potential buyers or renters.
• Days on Market: 28 days on the market is slightly above average. This could indicate that the property is overpriced or has other issues that are deterring buyers.
The Ugly
• Potential High Insurance Costs: While the fire risk is minimal (1/10), the major wind risk (6/10) and severe flood risk (7/10) likely contribute to the estimated insurance cost of $2,610/year. This is significantly higher than the national average and should be a major consideration. A detailed insurance quote is highly recommended.
• High Property Taxes: New Jersey has some of the highest property taxes in the nation. While the listing doesn't specify the exact amount, potential buyers should be prepared for substantial property tax payments in addition to the mortgage, insurance, and HOA fees. Researching the specific tax rate for this property is essential.
• Unknown Building History and Potential Assessments: Without knowing the year the building was built, it's impossible to assess the likelihood of future special assessments for major repairs or renovations. Older buildings often require significant capital improvements, which can be costly for owners.
• Limited Climate Control: The reliance on 'Wall Unit(s)' for cooling raises concerns about energy efficiency and effectiveness, especially during peak summer months. This could lead to higher electricity bills and potential discomfort.
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 Unique Historic Charm with Modern Amenities: The carriage house design, combined with updated features like smart mirrors and temperature control, appeals to those seeking a blend of old and new. The proximity to Hamilton Park, with its diverse recreational amenities, is ideal for active individuals.
• Commuters to NYC: The property's location near the Grove Street PATH station offers convenient access to Manhattan. This is particularly attractive for those who work in the city but prefer living in a more residential environment.
• Renters Looking to Become Homeowners: With median rental rates for two-bedroom apartments in Jersey City around $3,130 per month, owning this condo could be a financially sound alternative, especially with potential mortgage interest deductions and long-term equity building.
Not For
• Buyers Sensitive to Flood Risks: The property's location in a FEMA Zone AE with a flood risk of 7/10 may deter buyers concerned about potential flood damage and rising insurance costs.
• Buyers Seeking Predictable Monthly Costs: While the HOA includes water, the estimated insurance cost of $2,610 per year, combined with potentially high property taxes in Jersey City, may lead to unpredictable monthly housing expenses.
• Buyers Prioritizing School Quality: The assigned public schools, Rafael De J. Cordero No. 37 Elementary School (5/10) and James J. Ferris High School (2/10), may not meet the standards of buyers with school-aged children who prioritize high-rated public education.
Demographics
Area Median Income
$150,254
Property History
Price History
Ownership Timeline
$83,527Cash Purchase
Sep 27, 2024County Of HudsonWsfs Cust Tower Db Xi Trust 2021 1
Redemption Deed
Non-Arm's Length Transactions
$0Financed
Sep 18, 2024Zvi Brisk347 Pavonia Estates Llc
Bargain And Sale Deed
Non-Arm's Length Transactions
$2,850,000Financed
May 27, 2021John Caruso Iii, John Caruso Realty IncZvi Brisk
Bargain And Sale Deed
Non-Residential Arm's Length Transactions
$150,000Cash Purchase
Nov 27, 2019John Caruso Realty IncJohn J Caruso Iii, John Caruso Realty Inc
Deed
Non-Residential Arm's Length Transactions
$0Cash Purchase
Jun 14, 1999Regina DellamonicaCarmine Dellamonica, Regina Dellamonica
Intrafamily Transfer
Non-Arm's Length Transactions
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
Data provided by Shadowmap
Loading sunlight data...
Schools
Nearby school quality by education level
Elementary
5.7/10
AverageMiddle
4.5/10
AverageHigh
3.9/10
Below AverageFinancials
Monthly Costs
Unlock Premium Features
Supercharge Your Property Analysis
Get unlimited AI-powered insights and analysis to make confident decisions about any property you're interested in.
Best for serious buyers
- Unlimited AI analysis
- Unlimited AI chat
- Advanced tools & insights
$24.92/mo
Billed yearlySave 17% ($60/year)
Cancel anytime • 30-day money-back guarantee
Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$725,000
Price/sqft
$514
Layout
2 bd•2 ba
Days on market
4 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$1,097,333
33.9%
Your price is 33.9% below average
Median Price
$1,175,000
38.3%
Based on 6 recent sales
Price per Sq.Ft
$825
37.7%
Your price is 37.7% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 78 WAYNE ST #301, JC, Downtown, NJ 07302 | $1,175,000 | 1,230 | 2 | 2 | $95585.8% | 1/8/2025 |
| 1 SHORE LANE #2011, JC, Downtown, NJ 07310 | $1,180,000 | 1,270 | 2 | 2 | $92980.7% | 12/13/2024 |
| 87 JACKSON ST #4A, Hoboken, NJ 07030 | $960,000 | 1,338 | 2 | 2 | $71739.5% | 11/14/2024 |
| 349 3RD ST #1, JC, Downtown, NJ 07302 | $1,199,000 | 1,400 | 3 | 2 | $85666.6% | 10/25/2024 |
| 58 COLES ST #2B, JC, Downtown, NJ 07302 | $1,175,000 | 1,404 | 3 | 2 | $83762.8% | 10/23/2024 |
| 218 JACKSON ST #3, Hoboken, NJ 07030 | $895,000 | 1,369 | 3 | 2 | $65427.1% | 10/29/2024 |
78 WAYNE ST #301, JC, Downtown, NJ 07302
Price: $1,175,000
Sq.Ft: 1,230
Beds/Baths: 2/2
$/Sq.Ft:
$95585.8%
Sale Date: 1/8/2025
1 SHORE LANE #2011, JC, Downtown, NJ 07310
Price: $1,180,000
Sq.Ft: 1,270
Beds/Baths: 2/2
$/Sq.Ft:
$92980.7%
Sale Date: 12/13/2024
87 JACKSON ST #4A, Hoboken, NJ 07030
Price: $960,000
Sq.Ft: 1,338
Beds/Baths: 2/2
$/Sq.Ft:
$71739.5%
Sale Date: 11/14/2024
349 3RD ST #1, JC, Downtown, NJ 07302
Price: $1,199,000
Sq.Ft: 1,400
Beds/Baths: 3/2
$/Sq.Ft:
$85666.6%
Sale Date: 10/25/2024
58 COLES ST #2B, JC, Downtown, NJ 07302
Price: $1,175,000
Sq.Ft: 1,404
Beds/Baths: 3/2
$/Sq.Ft:
$83762.8%
Sale Date: 10/23/2024
218 JACKSON ST #3, Hoboken, NJ 07030
Price: $895,000
Sq.Ft: 1,369
Beds/Baths: 3/2
$/Sq.Ft:
$65427.1%
Sale Date: 10/29/2024
Frequently Asked Questions
Property Discussion
Start the Conversation
Share your insights on this property—did you visit the open house? Know of any hidden pros or cons? Your street-level knowledge could be exactly what another buyer needs.
You
Analyze Any Property for Free
Get instant insights and potential savings on any Zillow listing.
Free Analysis
AI-Powered Insights
Instant Results