Score
0Jersey City, NJ
37 Thorne St #3L
525K
2 beds
2 baths
845 sqft
2 bd • 2 ba • 845 sf
This analysis was generated on 1/18/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$525,000
Price/Sq.Ft
$621
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This property excels with its modern, stylish design and prime location in Jersey City Heights. The open and airy living space with rich hardwood floors throughout adds significant value. The chef-inspired kitchen, featuring stainless steel appliances, custom cabinetry with copper accents, and a waterfall countertop, is a major selling point. Both bathrooms offer luxurious finishes, including a glass-enclosed shower and a soothing tub. The unit's price of $621.30/sqft is competitive for the area, considering the high-end finishes. The property's location in a boutique 6-unit condo building with on-site storage is attractive for those seeking a more intimate living environment. At 845 sqft, the space is efficiently designed to accommodate 2 bedrooms and 2 bathrooms, making it suitable for small families or professionals. The inclusion of a washer/dryer in the unit adds convenience and value.
The Bad
The property's severe flood risk (8/10) is a significant concern, potentially leading to high insurance costs and future damages. The wind risk is also major (6/10), which could further impact insurance premiums. The heat risk is severe (7/10), with temperatures reaching 98°F on hot days, which may lead to increased cooling costs. The property relies on wall unit(s) for climate control, which may be less efficient than central HVAC systems. The HOA fee, while including water, is not specified, which could be a hidden cost. The local public high school (William L. Dickinson High School) has a low rating of 2/10, which may be a concern for families with school-age children.
The Ugly
The SEVERE flood risk (8/10) is a major red flag, potentially leading to significant insurance costs and future property damage. The property's location in FEMA Zone X_UNSHADED suggests it's outside the 100-year floodplain, but still at risk. The combination of severe flood risk, major wind risk, and severe heat risk could make this property challenging to insure at reasonable rates. The reliance on wall units for climate control in a region with severe heat risk could lead to comfort issues and high energy bills. The unknown year built raises concerns about potential hidden issues related to the building's age and construction quality. The low-rated nearby high school (2/10) could negatively impact long-term property value and make it less attractive to families with children.
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 young professionals or couples without children who prioritize modern design, urban living, and proximity to amenities. It's ideal for those with a household income around $175,000+ (based on a 28% front-end DTI ratio for a $525,000 property). The property would appeal to buyers who value a stylish, low-maintenance lifestyle and don't mind the trade-offs of condo living. It's also suitable for investors looking for rental properties, as the two-bedroom layout could command around $2,088/month based on local rental rates, potentially yielding a gross rent multiplier of about 21.
Not For
This property is not suitable for large families needing more than two bedrooms or extensive living space. It's also not ideal for buyers with a strong aversion to flood and climate risks, as the severe flood and heat risks may cause ongoing stress and potential financial burdens. Those sensitive to high insurance costs should be cautious. Buyers seeking top-rated public schools for high school students should look elsewhere due to the low-rated nearby high school. The property may not be suitable for those with limited mobility, as it's a third-floor unit (3L) and the building's elevator status is unknown.
Demographics
Area Median Income
$69,124
Property History
Price History
Ownership Timeline
$0Cash Purchase
Dec 8, 202037 43 Thorne Llc37 Thorne Street Condominium Association
Special Master Deed
Foreclosure
$845,000Cash Purchase
Dec 31, 2018Dpp Realty Corp43 Thorne Property Llc
Deed
Non-Residential Arm's Length Transactions
$470,000Cash Purchase
May 9, 2013Lucia LombardiThorne Street Realty Llc
Deed
Non-Residential Arm's Length Transactions
$140,000Cash Purchase
Jan 30, 1995Jesus Santos, Gladys SantosMichele Lombardi, Lucia Lombardi
Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
5.2/10
AverageMiddle
5.9/10
AverageHigh
3.8/10
Below AverageFinancials
Monthly Costs
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