235 Longview Union Grove Rd · Peapack and Gladstone, NJ 07931

$2,197,000

4 bd · 3.5 ba · 5,848 sqft · SingleFamily public records · 65 Days on market

Built 2020 13 ac lot

---

Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +7.5/15.0
• Appreciation +5.2/10.0
• Schools +4.7/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Custom-built 2020 raised ranch set on 13.28 private acres in Far Hills with farmland assessment and low taxes, offering the perfect blend of luxury, privacy, and functionality. Approx 6,978 SF with potential to expand to over 10,000 SF, featuring 9' ceilings, open-concept living, and exceptional craftsmanship throughout. The stunning primary suite boasts a spa-like bath with steam shower, heated floors, quartzite finishes, and custom closets. Chef's kitchen with JennAir professional appliances, quartzite countertops, custom cabinetry, and oversized island. Full walkout lower level offers gym, flex spaces, full bath, and expansive recreation areas with direct backyard access. Resort-style grounds include gunite pool, spa, outdoor kitchen, and beautifully designed entertaining spaces. 3-bay garage, smart home features, and premium finishes throughout. Private yet minutes to town, golf, equestrian facilities, NJ Transit, and easy access to Manhattan. Close to shopping, dining, and recreationan exceptional opportunity in one of NJ's most sought-after locations. Address is - 235 Longview Road, Far Hills, NJ 07931

Key facts

• 13.28 acre lot
• 3 garage spots
• Pool

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $2.20M.

Deal economics

• At list price, monthly cash flow is $-10k ($-122k/yr) — negative.
• To cash-flow at today's rent, offer at most $401k (81.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $437k (80.1% below list).
• Recommended offer: $401k (81.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 66/100 on livability (#359 in NJ) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, commute B; Watch: health & safety D, amenities F, cost of living F.
• Bedminster Township Public School District (rural): math 42% / reading 58% proficiency, ranked #116 of 472 in NJ (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 4% free/reduced lunch — higher-income household profile.
• Market conditions: 27 active listings in the ZIP; 678 units permitted in Somerset County in 2024 (296 in 5+ unit buildings).

Forward outlook

• In year one you build about $26k of equity ($15k loan paydown + $11k appreciation (0.5% local appreciation)).
• Somerset County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 5, paydown + projected appreciation supports a ~$130k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($2.07M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $490k; list at $2.20M implies a 348% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $400,545 (81.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 82% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.20% ✗
• Cap rate: 0.74%
• Cash-on-cash: -19.84%
• DSCR: 0.12
• GRM: 41.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: -0.07×
• Total profit: $-660,820
• Equity at exit: $693,295

10-year hold

• IRR: -15.3%
• Equity multiple: -0.73×
• Total profit: $-1,064,773
• Equity at exit: $878,938

Cash invested: $615,160 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 21 Tenant-Leaning
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

Anti-eviction Act requires just-cause statewide; rent control in 100+ municipalities; one of the most tenant-friendly states.

Methodology + full state rankings →

ZIP-level market 07931

• Home prices YoY: 0.2%
• Active inventory: 27
• Price-to-rent: 41.9×

Monthly cashflow live

• Estimated rent: $4,370 medium
• Mortgage (P&I): −$11,521
• Tax from tax record: −$1,185 /mo · $14,219/yr
• Insurance: −$915
• HOA: −$0
• Vacancy / Maint / Mgmt: −$918
• Net cashflow: $-10,169

Break-even live

Break-even rent $17,243

Max offer price $400,545

Occupancy floor —

Sensitivity live

Price	-10% $-8,926	-5% $-9,547	+0% $-10,169	+5% $-10,791	+10% $-11,413
Rent	-10% $-10,515	-5% $-10,342	+0% $-10,169	+5% $-9,997	+10% $-9,824
Rate	-1.0pp $-9,063	-0.5pp $-9,611	base $-10,169	+0.5pp $-10,739	+1.0pp $-11,318

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $549,250
• Closing costs: $65,910
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $2,197,000 Active 65 DOM
2. 2026-06-17
   days on market $2,197,000 Active 64 DOM
3. 2026-06-16
   days on market $2,197,000 Active 63 DOM
4. 2026-06-15
   days on market $2,197,000 Active 62 DOM
5. 2026-06-13
   days on market $2,197,000 Active 60 DOM
6. 2026-06-13
   days on market $2,197,000 Active 59 DOM
7. 2026-06-09
   days on market $2,197,000 Active 56 DOM
8. 2026-06-08
   days on market $2,197,000 Active 55 DOM
9. 2026-06-07
   days on market $2,197,000 Active 54 DOM
10. 2026-06-04
    days on market $2,197,000 Active 51 DOM
11. 2026-06-03
    days on market $2,197,000 Active 50 DOM
12. 2026-06-02
    days on market $2,197,000 Active 49 DOM
13. 2026-06-01
    days on market $2,197,000 Active 48 DOM
14. 2026-05-31
    days on market $2,197,000 Active 47 DOM
15. 2026-04-15
    listed $2,197,000 Active 1126-char remark

    Show marketing remark (1125 chars)

    Custom-built 2020 raised ranch set on 13.28 private acres in Far Hills with farmland assessment and low taxes, offering the perfect blend of luxury, privacy, and functionality. Approx 6,978 SF with potential to expand to over 10,000 SF, featuring 9' ceilings, open-concept living, and exceptional craftsmanship throughout. The stunning primary suite boasts a spa-like bath with steam shower, heated floors, quartzite finishes, and custom closets. Chef's kitchen with JennAir professional appliances, quartzite countertops, custom cabinetry, and oversized island. Full walkout lower level offers gym, flex spaces, full bath, and expansive recreation areas with direct backyard access. Resort-style grounds include gunite pool, spa, outdoor kitchen, and beautifully designed entertaining spaces. 3-bay garage, smart home features, and premium finishes throughout. Private yet minutes to town, golf, equestrian facilities, NJ Transit, and easy access to Manhattan. Close to shopping, dining, and recreation an exceptional opportunity in one of NJ's most sought-after locations.Address is - 235 Longview Road, Far Hills, NJ 07931

16. 2026-04-15
    listed $2,197,000 Active 1125-char remark

    Show marketing remark (1125 chars)

    Custom-built 2020 raised ranch set on 13.28 private acres in Far Hills with farmland assessment and low taxes, offering the perfect blend of luxury, privacy, and functionality. Approx 6,978 SF with potential to expand to over 10,000 SF, featuring 9' ceilings, open-concept living, and exceptional craftsmanship throughout. The stunning primary suite boasts a spa-like bath with steam shower, heated floors, quartzite finishes, and custom closets. Chef's kitchen with JennAir professional appliances, quartzite countertops, custom cabinetry, and oversized island. Full walkout lower level offers gym, flex spaces, full bath, and expansive recreation areas with direct backyard access. Resort-style grounds include gunite pool, spa, outdoor kitchen, and beautifully designed entertaining spaces. 3-bay garage, smart home features, and premium finishes throughout. Private yet minutes to town, golf, equestrian facilities, NJ Transit, and easy access to Manhattan. Close to shopping, dining, and recreation an exceptional opportunity in one of NJ's most sought-after locations.Address is - 235 Longview Road, Far Hills, NJ 07931

17. 2026-04-14
    historical $2,197,000 1125-char remark

    Show marketing remark (1125 chars)

    Custom-built 2020 raised ranch set on 13.28 private acres in Far Hills with farmland assessment and low taxes, offering the perfect blend of luxury, privacy, and functionality. Approx 6,978 SF with potential to expand to over 10,000 SF, featuring 9' ceilings, open-concept living, and exceptional craftsmanship throughout. The stunning primary suite boasts a spa-like bath with steam shower, heated floors, quartzite finishes, and custom closets. Chef's kitchen with JennAir professional appliances, quartzite countertops, custom cabinetry, and oversized island. Full walkout lower level offers gym, flex spaces, full bath, and expansive recreation areas with direct backyard access. Resort-style grounds include gunite pool, spa, outdoor kitchen, and beautifully designed entertaining spaces. 3-bay garage, smart home features, and premium finishes throughout. Private yet minutes to town, golf, equestrian facilities, NJ Transit, and easy access to Manhattan. Close to shopping, dining, and recreation an exceptional opportunity in one of NJ's most sought-after locations.Address is - 235 Longview Road, Far Hills, NJ 07931

18. 2026-04-13
    historical $2,197,000 1126-char remark

    Show marketing remark (1126 chars)

    Custom-built 2020 raised ranch set on 13.28 private acres in Far Hills with farmland assessment and low taxes, offering the perfect blend of luxury, privacy, and functionality. Approx 6,978 SF with potential to expand to over 10,000 SF, featuring 9' ceilings, open-concept living, and exceptional craftsmanship throughout. The stunning primary suite boasts a spa-like bath with steam shower, heated floors, quartzite finishes, and custom closets. Chef's kitchen with JennAir professional appliances, quartzite countertops, custom cabinetry, and oversized island. Full walkout lower level offers gym, flex spaces, full bath, and expansive recreation areas with direct backyard access. Resort-style grounds include gunite pool, spa, outdoor kitchen, and beautifully designed entertaining spaces. 3-bay garage, smart home features, and premium finishes throughout. Private yet minutes to town, golf, equestrian facilities, NJ Transit, and easy access to Manhattan. Close to shopping, dining, and recreationan exceptional opportunity in one of NJ's most sought-after locations. Address is - 235 Longview Road, Far Hills, NJ 07931

19. 2018-11-07
    soldstatus $489,900
20. 2018-11-06
    soldstatus $489,900 Sold
21. 2018-06-28
    historical
22. 2018-05-25
    listed $499,900 Active
23. 1999-07-08
    soldstatus $1,350,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $14,219 · $1,185/mo
• Projected year-2 tax: $34,462 · $2,872/mo
• Expected delta: +$20,243/yr (+$1,687/mo · 142.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,440
• − Mortgage interest: −$123,066
• − Property taxes: −$14,219
• − Insurance: −$10,985
• − Repairs & maintenance: −$4,195
• − Management: −$4,195
• − Depreciation: −$63,913
• Taxable loss: −$168,133
• Est. tax savings @ 24.0%: +$40,352
• After-tax cash flow: $-81,680/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Bedminster Township Public School District
• NCES district ID: 3401320
• Math proficiency: 42% ▼ -17.00%
• Reading proficiency: 58% ▼ -20.00%
• Median HH income: $97,269
• Composite: 47.24/100
• National rank: #2312
• State rank: #116 of 472 in NJ

Livability — Peapack and Gladstone

• Score: 66/100
• State rank: #359
• US rank: #11889

Category grades

Amenities F Commute B Cost of living F Crime A+ Employment A+ Housing B- Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 4,004
• Population (ZIP): 3,271

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 356,675 people
• By 2030: 367,194 · +2.9%
• By 2040: 386,571 · +8.4%
• By 2050: 401,708 · +12.6%
• By 2075: 438,898 · +23.1%
• By 2100: 448,170 · +25.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Hispanic / Latino 15% Asian 5% Two or more races 2% Black 1%
• Hispanic origin (detail): Puerto Rican 4%
• Common ancestry: Iranian 5% Romanian 4% Italian 3%
• Foreign-born: 12% · Canada, South Korea, China
• Languages at home: 82% English-only · Spanish 11% Russian/Polish/Slavic 1% Other Indo-European 1%

Political lean MEDSL · Somerset

• 2024 margin: D (+13.9) · D 55.7% · R 41.8% · Other 2.5%
• 2008→2024 swing: +7.8pp toward D · 2008: 6.1pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+21.0 2016: D+12.4 2012: D+5.2 2008: D+6.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.50%
• Current HPI: 210.9242
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

Industry mix (Fortune 500 HQ in NJ)

Industry	F500 HQs	Revenue
▸Consumer Goods	3	$31B
▸Pharmaceuticals	2	$153B
▸Technology	2	$21B
▸Insurance	2	$20B
▸Healthcare	2	$19B
▸Financial Services	1	$70B

Price history

+62.7% since first listed

9 events — show timeline

• 2026-04-15 Listed $2,197,000 CJMLS
• 2026-04-15 Listed $2,197,000 GSMLS
• 2026-04-14 Coming Soon $2,197,000 GSMLS
• 2026-04-13 Coming Soon $2,197,000 CJMLS
• 2018-11-07 Sold (Public Records) $489,900 Public Records
• 2018-11-06 Sold (MLS) $489,900 GSMLS
• 2018-06-28 Delisted — GSMLS
• 2018-05-25 Listed $499,900 GSMLS
• 1999-07-08 Sold (Public Records) $1,350,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $14,219 · +0.9% YoY. Source: county tax records.