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18 Schoolhouse Road
Cream Ridge, NJ 08514
$5,000,000
Conventional
Property
Bedroom
7
Bathroom
9
Property Type
Conventional
Square ft
--
Property Description
PRODUCE INCOME! 4.75 acre exception area for non-agricultural uses. Welcome to Dreamland Estate, a truly exceptional property that sprawls across 107 acres. It features multiple structures totaling over 6000 sqft of living space. The main house has over 4,000 square feet of space with a detached three-car garage and a second-floor apartment. The charming ranch house boasts three bedrooms and two bathrooms, and a complete studio apartment at the rear. The estate is further complemented by an expansive paver garden ideal for hosting events, a greenhouse, a generously-sized 14-stall horse stable with a second-floor lounge, multiple sheds, paddocks, run-in sheds, a massive pole barn, a horse track and much more! The estate is thoughtfully interlaced with paved roadways for easy navigation Upon entering the main house, you'll be greeted by a grand three-story foyer and a spacious living room adorned with a large stone fireplace. The eat-in kitchen, complete with a center island, exudes a warm and inviting atmosphere. On the opposite side of the main floor, you'll find a substantial conservatory designed for relaxation, equipped with a 360-degree fireplace and access to both the deck and the front porch. Moving to the second level, you'll encounter an extended walkway that overlooks the first floor. This level accommodates two bedrooms, a primary bathroom, a laundry area, and a spacious primary bedroom. The primary bedroom features a fireplace, a cozy reading nook, and a spacious ensuite complete with two walk-in closets and a whirlpool tub. The third floor includes an additional full bathroom and a walkway that provides views of the first two levels. This walkway leads to a substantial great room with two balconies offering splendid property views. The expansive unfinished basement offers plenty of storage as well as many more possibilities! Additionally, the detached three-car garage includes a charming one-bedroom apartment. Notable features of the main house also encompass two captivating koi ponds, a generous swimming pool with an attached spa and a convenient swim-up bar, as well as a porte-cochere. The guest ranch with a studio provides ample extra space for family and guests. It comprises three bedrooms with a complete bathroom, high beam ceilings extending over a spacious eat-in kitchen, and a living room featuring a fireplace. Towards the rear, there's a compact studio featuring its own kitchenette, a full bath, and a dining area. Attached to this house is a substantial garage housing maintenance equipment for the property. Other features include security systems with 360 degree cameras and an electronic gate with keypad. This property offers a wealth of exploration and experiences, allowing your dreams to take flight. Whether you want to produce income or keep it all to yourself this property has it all!
Property Information
Lot Size
107 acre(s) square ft
Property Type
Residential
Year Built
1991
MLS Number
22329051
Location
Address
18 Schoolhouse Road
City
Cream Ridge
State
NJ
Zip Code
08514
County
MONMOUTH (SOUTHWEST)
Listing
Provider
Compass New Jersey , LLC, original listing
Name
Compass New Jersey , LLC
Phone
(973) 310-7360
Office Name
Compass New Jersey , LLC
Office Phone
(732) 530-6300
Agent Name
Andrew Adell

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.