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It's listed for less than the statewide median sales price of $570,000.
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ByThe words ‘lakefront home’ usually signal a hefty price tag — this house is the exception.
It’s a three-bedroom, one-bathroom home on half an acre with 100 feet of water frontage — and it’s listed for $550,000.
That’s less than the median sales price of a home statewide, which is $570,000. It is well below Denville’s median sales price of $610,000, according to New Jersey Realtors’ data.
The home is on Cedar Lake, a 320-acre community with a 99-acre lake.
“This is at the more quiet, remote end of the lake,” said Bianca Franchi of Weichert, Realtors in Mountain Lakes, the listing agent.
The home is a good value because it is smaller, was built in 1931, and has a small roadway in front that provides access to the property behind it. It is an as-is sale, meaning the seller is not obligated to make repairs or give a credit for them.
“It needs some cosmetic fix-ups,” she said. “So it’s priced accordingly.”
The current owner bought the home six years ago and remodeled the kitchen, installed a new roof, HVAC system, a larger retaining wall, new sheetrock in some rooms and made a walk-in closet in the primary bedroom.
The former seasonal sunroom was converted into part of the living room, creating a great room. “That adds a lot,” Franchi said. “It gives a lot more square footage.”
The 95-year-old home has an original stone fireplace in the living room, and the home’s elevation gives it stunning views of the lake.
It’s a raised ranch with a two-car garage and a utility room underneath.
Outside, there is a rock mountain that rises about 100 feet on one side of the home, and a flat yard on the other. There are also terraces along the lake and a cantilever dock.
“The back of the house is amazing,” she said. “For the right person it could be a total enhancement. The kind of thing you go away on vacation for or to an exotic Airbnb.”
The home is ideal for someone who enjoys nature, with 600 acres of hiking trails nearby. And the lake allows non-motorized recreation.
Cedar Lake charges a $50-per-month homeowners association fee.
The home has gotten a lot of attention in the short time it’s been on the market. It was listed April 6, and there were 40 showings last weekend.
“This house has the privacy and solitude a lot of the houses on Cedar Lake don’t have because they’re kind of packed in the way cabins would be in vacation area,” Franchi said. “And the views are spectacular.”
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Allison PriesAllison has been covering real estate throughout New Jersey since the pandemic. Her focus has primarily been on the residential market and how it has been impacted by interest rate changes, soaring prices and...
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