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648 E Front St
Florence, NJ

648 E Front St

$399,900
3 bd • 2 ba • 1,564 sf

This analysis was generated by artificial intelligence on 1/21/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$399,900

Price/Sq.Ft

$256

Year Built

1911

AI Property Analysis

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

The Good

This 1911-built home at 648 E Front St, Florence, NJ offers exceptional value at $255.69/sqft, which is approximately 20% below the median price of $319/sqft for similar homes in the area. The property has appreciated significantly, with a 77.8% increase from its last sale price of $224,900 in 2020 to the current listing of $399,900. The 1,564 sqft layout is spacious compared to the average 1,400 sqft for homes in this price range in Florence. Recent renovations, including an updated kitchen with modern cabinetry and appliances, and renovated bathrooms, add substantial value without the need for immediate upgrades. The property boasts excellent climate resilience with minimal flood (1/10) and fire (1/10) risks, potentially leading to lower insurance premiums. The generous lot size and fenced backyard with a deck provide ample outdoor space, a feature highly valued in the current market.

The Bad

The property has been on the market for 67 days, which is above the average DOM of 45 for Florence, suggesting potential pricing or condition issues. The home's age (built in 1911) may lead to higher maintenance costs and potential system replacements in the near future. The radiator heating system, while functional, is less efficient than modern HVAC systems and may need upgrading. With only 1.5 bathrooms for a 3-bedroom home, it falls short of the preferred 2+ full bathrooms for modern family living. The air quality risk score of 5/10 (major) could be a concern for residents with respiratory issues, with 6 bad air days per year potentially impacting quality of life.

The Ugly

The property faces significant climate risks, particularly with heat (6/10) and wind (6/10) risks rated as major. The 98th percentile temperature of 102°F indicates potential for extreme heat events, which could necessitate costly cooling system upgrades. The critical wind risk may lead to substantially higher insurance premiums and potential property damage. The home's age raises concerns about hidden structural issues, outdated electrical systems, and potential presence of hazardous materials like lead paint or asbestos, which could result in expensive remediation costs. The lack of central air conditioning (relying on window units) is a significant drawback in a climate with major heat risks and could necessitate a costly HVAC installation, estimated at $10,000-$15,000 for a home of this size.

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 ideal for first-time homebuyers or young families looking for a charming, historic home with modern updates. With a median income of $88,431 in the area, buyers with household incomes of $100,000+ would comfortably afford the estimated monthly payments. It's well-suited for those who appreciate character and are willing to take on some ongoing maintenance in exchange for a spacious home and yard. The property could also appeal to investors looking for a long-term appreciation play, given the significant value increase since 2020 and the potential for further growth in this historic neighborhood.

Not For

This property is not suitable for buyers seeking a low-maintenance, move-in ready home with all modern amenities. Families requiring multiple full bathrooms or more than three bedrooms would find the layout challenging. Those with respiratory sensitivities might be deterred by the air quality risks. Buyers looking for maximum energy efficiency or those unwilling to invest in potential future upgrades (like HVAC systems) should consider more modern properties. The home may also not be ideal for those with limited mobility due to its multi-story layout and potential accessibility issues common in older homes.
Demographics
Area Median Income

$88,431

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Risk Assessment

Climate Risks

heatMAJOR

7 extreme heat days per year

98th percentile: 102°F

windMAJOR

Insurance: Required

airMAJOR

6 bad air quality days per year

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

The major wind risk (6/10) could lead to a 20-30% increase in insurance premiums and potential property damage during severe weather events. The heat risk (6/10) may necessitate costly cooling system upgrades, estimated at $10,000-$15,000 for central AC installation. Given the home's age, there's a high probability of needing major system replacements within 5-10 years, including electrical rewiring ($8,000-$15,000), plumbing updates ($5,000-$10,000), and roof replacement ($8,000-$12,000). The potential presence of lead paint or asbestos could require remediation costs of $10,000-$30,000 if found during renovations. The lack of a Certificate of Occupancy (CCO) mentioned in the listing could delay the sale process and potentially uncover code compliance issues requiring immediate address.
Insurance
Annual Cost

$1,440

$120 per month

Financials

Monthly Costs

Price History

Property Taxes

$0
2023 Tax Assessment
100.0%from previous year
Assessed Value$232,300
Tax Rate0.00%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$364,000

-9.0% below list price

Median Price

$390,000

Based on 6 recent sales

Price per Sq.Ft

$230

Comparable Properties

961 OLIVE ST, ROEBLING, NJ 08554
Price: $440,000
Sq.Ft: 1,477
Beds/Baths: 3/2
$/Sq.Ft:
$29816.5%
Sale Date: 11/1/2024
7 SEVENTH AVE, ROEBLING, NJ 08554
Price: $335,000
Sq.Ft: 1,472
Beds/Baths: 3/2
$/Sq.Ft:
$22811.0%
Sale Date: 10/10/2024
35 RIVER BANK DR, ROEBLING, NJ 08554
Price: $295,000
Sq.Ft: 1,478
Beds/Baths: 2/2
$/Sq.Ft:
$20021.9%
Sale Date: 9/19/2024
1270 EMERICK AVE, ROEBLING, NJ 08554
Price: $390,000
Sq.Ft: 1,709
Beds/Baths: 4/2
$/Sq.Ft:
$22810.8%
Sale Date: 8/24/2024
40 W FOURTH ST, FLORENCE, NJ 08518
Price: $325,000
Sq.Ft: 1,516
Beds/Baths: 3/2
$/Sq.Ft:
$21416.2%
Sale Date: 7/30/2024
225 DELAWARE AVE, ROEBLING, NJ 08554
Price: $399,000
Sq.Ft: 1,863
Beds/Baths: 4/2
$/Sq.Ft:
$21416.2%
Sale Date: 7/27/2024

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