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41 Ridge Rd
Lebanon, NJ

41 Ridge Rd

$1,107,000
3 bd • 5 ba • 7,784 sf

This analysis was generated by artificial intelligence 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The property's age is unknown, which could indicate potential hidden maintenance issues or outdated systems.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

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Risk Assessment

Risk Analysis

Major risks include potentially high maintenance and utility costs for such a large property. The unknown age of the home could mean imminent need for major system replacements (HVAC, roof, etc.), each potentially costing $10,000-$30,000. The rural location may be prone to power outages, necessitating a backup generator system ($8,000-$15,000). Septic system failure could cost $20,000-$30,000 to replace. The wooded lot increases risk of tree damage during storms and may require regular professional tree maintenance ($2,000-$5,000 annually). Market volatility in high-end rural properties could impact future resale value. Zoning changes or development in the area could affect the property's rural character and value.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$738,333

-33.3% below list price

Median Price

$400,000

Based on 3 recent sales

Price per Sq.Ft

$0

Comparable Properties

Price: $30,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 7/31/2024
Price: $400,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 7/31/2024
Price: $1,785,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 7/31/2024

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