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42 Cedar Hill Ave
Belleville, NJ

42 Cedar Hill Ave

$801,600
6 bd • 2 ba • 2,700 sf

This analysis was generated by artificial intelligence on 1/23/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$801,600

Price/Sq.Ft

$297

Year Built

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This 6-bedroom, 2-bathroom house offers exceptional value at $296.89/sqft, which is approximately 20% below the Belleville average of $370/sqft for similar properties. With 2,700 sqft of living space, it's 35% larger than the typical 4-bedroom home in the area (2,000 sqft). The property's size makes it versatile for large families or potential rental income. Its brick exterior suggests durability and lower maintenance costs. The bay window adds character and natural light. Off-street parking for multiple vehicles is a significant advantage in an area where parking can be limited. The mature tree in the front yard provides shade and enhances curb appeal.

The Bad

The house appears to be older, potentially built in the 1950s or 1960s, which may require more frequent maintenance and updates. With only 2 bathrooms for 6 bedrooms, the bathroom-to-bedroom ratio is below modern standards, potentially necessitating a costly addition ($20,000-$50,000). The front yard is relatively small, limiting outdoor space. The property's age suggests potential need for updates to major systems like plumbing, electrical, and HVAC, which could cost $15,000-$30,000 collectively. The lack of a garage may be a drawback for some buyers, especially given New Jersey winters.

The Ugly

At $801,600, this property is priced 31% above Belleville's median home value of $610,000, which may limit its pool of potential buyers. New Jersey's high property tax rates (average 2.42% of assessed value) could result in annual property taxes around $19,400, significantly impacting total ownership costs. The house's proximity to other homes suggests potential noise issues and limited privacy. Given Belleville's location near the Passaic River, flood risk assessment is crucial; flood insurance could add $2,000-$4,000 annually to ownership costs if in a high-risk zone. The sidewalk condition suggests potential city-mandated repairs, which could cost $3,000-$5,000.

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 large families with household incomes above $200,000, given the size and potential costs. It's ideal for those prioritizing space over modern amenities, willing to invest in updates over time. Investors looking for multi-unit conversion potential could benefit, as the 6-bedroom layout could potentially be converted into a legal 2-family home, subject to zoning laws. The property could also appeal to multi-generational families seeking shared living arrangements.

Not For

This property is not suitable for first-time homebuyers or those with limited budgets due to high purchase price and potential renovation costs. It's not ideal for small families or couples who don't need 6 bedrooms, as they'd be paying for unused space. Buyers seeking a modern, move-in ready home would find the potential need for updates unappealing. Those with mobility issues might struggle with a multi-story home lacking a first-floor bedroom.
Demographics
Area Median Income

$75,974

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Risk Assessment

Risk Analysis

Major risks include potential flooding, given Belleville's proximity to the Passaic River. The age of the house increases the likelihood of requiring significant system upgrades (roof, plumbing, electrical) within 5-10 years. The high property taxes in New Jersey pose a long-term financial risk, especially if they continue to rise. The property's price point, being above the local median, may limit appreciation potential and make it harder to sell in a downturn. Zoning laws could restrict potential conversion to a multi-family unit, limiting investment options.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$695,167

-13.3% below list price

Median Price

$720,000

Based on 6 recent sales

Price per Sq.Ft

$0

Comparable Properties

Price: $550,000
Sq.Ft:
Beds/Baths: 5/2
$/Sq.Ft: N/A
Sale Date: 7/31/2024
Price: $795,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 12/9/2024
Price: $745,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 11/1/2024
Price: $676,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 10/10/2024
Price: $685,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 9/16/2024
Price: $720,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 9/12/2024

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