For sale

$489,000

87 Model Ave, Hopewell, NJ 08525

7beds

2,556sqft

Est.:

Single Family Residence

Built in 1900

0.32 Acres Lot

$483,400 Zestimate^®

$191/sqft

$-- HOA

What's special

Calling all investors. This 3-unit home in downtown Hopewell Boro is waiting for its new owner. Home is being sold "as is". Two of the units are currently rented. Can condo the building. All units have lead certification, good for 3 years. Property address is 85-87 Model Avenue There is one vacant unit, 3-bedroom end unit. The 2-bedroom end unit (on right) is rented for $1,350 and middle unit $1,800. Tenants pay own utilities. Landlord has been paying for heat. NOTE: SHOWINGS ONLY 4/6 10 AM - 1 PM & 4/8 1 PM - 4 PM

19 days

3,455

74

Tour with a local agent

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 7
Bathrooms: 3
Full bathrooms: 3
Main level bathrooms: 1
Main level bedrooms: 2

Basement

Area: 0

Heating

Radiator, Natural Gas

Cooling

None

Appliances

Included: Gas Water Heater

Features

Basement: Full,Exterior Entry,Unfinished
Has fireplace: No

Interior area

Total structure area: 2,556
Total interior livable area: 2,556 sqft
Finished area above ground: 2,556
Finished area below ground: 0

Property

Parking

Total spaces: 4
Parking features: Driveway
Uncovered spaces: 4

Accessibility

Accessibility features: None

Features

Levels: Two
Stories: 2
Pool features: None

Lot

Size: 0.32 Acres
Dimensions: 60.00 x 0.00

Details

Additional structures: Above Grade, Below Grade
Parcel number: 050001300005
Zoning: R75P
Special conditions: Standard

Construction

Type & style

Home type: SingleFamily
Architectural style: Traditional
Property subtype: Single Family Residence

Materials

Frame
Foundation: Stone

Condition

New construction: No
Year built: 1900

Utilities & green energy

Sewer: Public Sewer
Water: Public

Community & HOA

Community

Subdivision: None Available

HOA

Has HOA: No

Location

Region: Hopewell
Municipality: HOPEWELL BORO

Financial & listing details

Price per square foot: $191/sqft
Tax assessed value: $472,100
Annual tax amount: $16,844
Date on market: 3/24/2026
Listing agreement: Exclusive Right To Sell
Ownership: Fee Simple

Estimated market value

$483,400

$459,000 - $508,000

$4,419/mo

Price history

Date	Event	Price
3/24/2026	Listed for sale	$489,000+226%$191/sqft
Source: Bright MLS #NJME2074220 Report a problem
1/23/2006	Sold	$150,000-6.3%$59/sqft
Source: Agent Provided Report a problem
2/23/1990	Sold	$160,000$63/sqft
Source: Agent Provided Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$15,905	$472,100
2024	$15,905 +5.3%	$472,100
2023	$15,102 +1.8%	$472,100
2022	$14,829 +1.4%	$472,100
2021	$14,621 +1.5%	$472,100
2020	$14,404 +4.5%	$472,100
2019	$13,781 +3.2%	$472,100
2018	$13,356 +1.1%	$472,100
2017	$13,205 +1.5%	$472,100
2016	$13,006 +2.8%	$472,100
2015	$12,649 +4%	$472,100 -4.4%
2014	$12,165 +12.8%	$493,700
2012	$10,782 +3.2%	$493,700
2011	$10,447 +1.9%	$493,700
2010	$10,254 +0.7%	$493,700
2009	$10,185 +5.3%	$493,700
2008	$9,677 +7.7%	$493,700
2007	$8,985	$493,700 +144.6%
2006	--	$201,800
2005	--	$201,800
2003	--	$201,800
2002	--	$201,800
2001	--	$201,800