Score
0Mountain Lakes, NJ
9 Roberts Dr
825K
4 beds
3 baths
29,621 sqft
4 bd • 3 ba • 29,621 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
$825,000
Price/Sq.Ft
$28
Year Built
1979
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This property at 9 Roberts Dr, Mountain Lakes, NJ offers exceptional value with its expansive 29,621 sqft lot, priced at just $27.85/sqft, significantly below the area average. The 4-bedroom, 3-bathroom layout provides ample space for families or those seeking room to grow. Built in 1979, it's relatively newer compared to many historic homes in Mountain Lakes, potentially requiring less immediate maintenance. The property has shown remarkable appreciation, increasing from $375,000 in 2018 to its current listing of $825,000, a 120% increase in just over 5 years. Its location offers excellent school options, with highly-rated schools all within 1.5 miles, including Mountain Lakes High School with a 9/10 rating. Climate risk factors are generally favorable, with minimal flood risk (1/10) and minor fire risk (2/10), which could lead to lower insurance premiums compared to properties with higher risk scores.
The Bad
While the property offers significant square footage, the house itself may be smaller than the lot size suggests, potentially requiring expansion or renovation to fully utilize the space. The property lacks a detailed description, which may indicate potential issues or outdated features not explicitly mentioned. The price increase from $375,000 in 2018 to $825,000 now, while impressive for appreciation, might make it overvalued in the current market. The estimated insurance cost of $2,970/year is relatively high, suggesting potential underlying risks or high replacement costs. The property has been on the market for 15 days, which is not alarming but could indicate that it's priced slightly high for its current condition or features.
The Ugly
The property faces major heat risk (5/10) and wind risk (5/10), with insurance being critical for wind-related damages. This could lead to higher ongoing insurance costs and potential damage repairs. The rapid price appreciation of 120% since 2018 might be unsustainable, potentially leading to a market correction or difficulty in future resale. The lack of detailed property description and limited mentioned features (only dishwasher, range/oven, and refrigerator noted) suggest the interior may be outdated or in need of significant upgrades. The basement is described as having garage entry, laundry, and utility areas, which might indicate it's unfinished or partially finished, requiring investment to fully utilize the space. The property's history shows volatility, with a significant decrease in value between 2005 and 2018, which could repeat if market conditions change.
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 buyers with a household income of $200,000+ who can comfortably afford the $825,000 price tag and potential renovation costs. It's ideal for families seeking excellent schools and a large lot for future expansion or outdoor activities. The property could appeal to investors looking for long-term appreciation in a desirable area, particularly if they have the capital to improve the property. It's also suitable for those who value privacy and space, given the large lot size in a lake community 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 for additional investment needs. It's not ideal for those seeking a move-in ready, modern home without the need for upgrades or renovations. Buyers looking for low maintenance costs or those sensitive to climate risks (particularly heat and wind) should be cautious. It's also not suitable for those requiring immediate rental income, as the current condition and high purchase price may not align with local rental rates for immediate profitability.
Demographics
Area Median Income
$0
Property History
Price History
Ownership Timeline
$0Cash Purchase
Sep 14, 2023Anupam Dave, Sonal DaveKeybank Na, The New Haven Savings Bank
Sheriffs Deed
Foreclosure
$375,000Cash Purchase
Dec 4, 2018Anupam Dave, Sonal DaveAnupam Dave
Deed
Standard Sale (Purchase/Resales)
$760,000Financed
Mar 30, 2005Alma UmaliAnupam Dve, Sonal Dave
Deed
Standard Sale (Purchase/Resales)
Property Taxes
$20,694
2023 Tax Assessment
1.9%from previous year
Assessed Value$818,600
Tax Rate2.53%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
9.0/10
ExcellentHigh
9.0/10
ExcellentFinancials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$1,240
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$825,000
Price/sqft
$28
Layout
4 bd•3 ba
Days on market
14 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$959,167
14.0%
Your price is 14.0% below average
Median Price
$880,000
6.3%
Based on 6 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 |
|---|---|---|---|---|---|---|
| $880,000 | N/A | 3 | 3 | N/A | 10/18/2024 | |
| 76 N East Shore Road, Mountain Lakes Boro, NJ 07046 | $865,000 | N/A | 3 | 3 | N/A | 10/8/2024 |
| $725,000 | N/A | 4 | 3 | N/A | 9/22/2024 | |
| $1,460,000 | N/A | 5 | 3 | N/A | 9/11/2024 | |
| $865,000 | N/A | 3 | 2 | N/A | 10/7/2024 | |
| $960,000 | N/A | 3 | 2 | N/A | 10/3/2024 |
Price: $880,000
Sq.Ft: N/A
Beds/Baths: 3/3
$/Sq.Ft: N/A
Sale Date: 10/18/2024
76 N East Shore Road, Mountain Lakes Boro, NJ 07046
Price: $865,000
Sq.Ft: N/A
Beds/Baths: 3/3
$/Sq.Ft: N/A
Sale Date: 10/8/2024
Price: $725,000
Sq.Ft: N/A
Beds/Baths: 4/3
$/Sq.Ft: N/A
Sale Date: 9/22/2024
Price: $1,460,000
Sq.Ft: N/A
Beds/Baths: 5/3
$/Sq.Ft: N/A
Sale Date: 9/11/2024
Price: $865,000
Sq.Ft: N/A
Beds/Baths: 3/2
$/Sq.Ft: N/A
Sale Date: 10/7/2024
Price: $960,000
Sq.Ft: N/A
Beds/Baths: 3/2
$/Sq.Ft: N/A
Sale Date: 10/3/2024
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