Score
0Lebanon, NJ
41 Ridge Rd
1.1M
3 beds
5 baths
7,784 sqft
3 bd • 5 ba • 7,784 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$1,107,000
Price/Sq.Ft
$142
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This property at 41 Ridge Rd, Lebanon, NJ offers exceptional value with its expansive 7,784 sq ft size, priced at only $142.21/sq ft, which is significantly below the average for the area. The 3 bedroom, 5 bathroom layout provides ample space and versatility. Its location in Lebanon Township offers a serene, rural setting with mature trees and natural landscaping, as evident from the image. The property likely sits on a large lot, providing privacy and potential for outdoor activities. With a median income of $147,679 in the area, this property is well-positioned for the local market. The abundance of bathrooms (5) compared to bedrooms (3) suggests potential for home office or multi-generational living arrangements.
The Bad
The property's age is unknown, which could indicate potential hidden maintenance issues or outdated systems. There's a lack of detailed information about the home's features, utilities, and systems, which makes it difficult to assess its true condition and potential renovation needs. The rural setting, while appealing to some, may mean longer commute times and limited access to urban amenities. The reliance on septic systems and private wells in the area could lead to additional maintenance costs and responsibilities for the homeowner.
The Ugly
The absence of a comprehensive property description and feature list is concerning for a home in this price range. This lack of information could be hiding significant issues or necessary upgrades. The large size of the home (7,784 sq ft) could lead to extremely high utility and maintenance costs, potentially exceeding $15,000-$20,000 annually. Property taxes in New Jersey are notoriously high, and for a home valued at $1,107,000, annual property taxes could easily exceed $20,000-$25,000. The rural location may have limited internet and cell service, which could be a significant drawback for remote workers or tech-savvy 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 affluent buyers with household incomes well above $300,000, given the purchase price and potential carrying costs. It's ideal for those seeking a spacious country retreat with room for extended family, home offices, or hobby spaces. The property would appeal to nature lovers who value privacy and don't mind the maintenance associated with a large rural property. It could also attract investors looking to convert the space into a high-end bed and breakfast or retreat center, given its size and setting.
Not For
This property is not suitable for first-time homebuyers or those with limited budgets due to its high price point and potential maintenance costs. It's not ideal for buyers who prefer urban living with easy access to amenities and public transportation. The property may not suit those looking for a low-maintenance lifestyle or individuals uncomfortable with the responsibilities of managing private well and septic systems. Buyers seeking modern, energy-efficient homes might find this property challenging without more information about its systems and potential need for updates.
Demographics
Area Median Income
$147,679
Property History
Price History
Ownership Timeline
$0Cash Purchase
Feb 8, 2019Kevin D Murray, Wendy H MurrayKevin D Murray, Wendy H Murray
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Dec 20, 2006Kevin D MurrayKevin D Murray, Wendy H Murray
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Jun 28, 2004Kevin D Murray, Rosemarie M MurrayKevin D Murray
Intrafamily Transfer
Non-Arm's Length Transactions
$368,900Cash Purchase
Dec 15, 1994Joseph CarusoKevin D Murray, Rosemarie M Murray
Deed
Standard Sale (Purchase/Resales)
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$1,600
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$1,107,000
Price/sqft
$142
Layout
3 bd•5 ba
Stats in the Area
Based on 3 comparable properties nearby
Average Price
$738,333
49.9%
Your price is 49.9% above average
Median Price
$400,000
176.8%
Based on 3 recent sales
Price per Sq.Ft
N/A
No price per sq.ft data available
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| $30,000 | N/A | N/A | N/A | N/A | 7/31/2024 | |
| $400,000 | N/A | N/A | N/A | N/A | 7/31/2024 | |
| $1,785,000 | N/A | N/A | N/A | N/A | 7/31/2024 |
Price: $30,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 7/31/2024
Price: $400,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 7/31/2024
Price: $1,785,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 7/31/2024
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