Are you talking about a ranch that is down the street from a local hang out bar that the patrons use the front lawn as a urinal on their way back to their cars that are parked in front of every night? Are you talking about a 2 story home that has never been rented and has great curb appeal because the owners have shown pride in the summer retreat and spent a lot of money making it warm and inviing? Which home do you think is more valuable?

Nick,

Any real estate professional would require a lot more information to be able to provide you with the level of information you are seeking.

We recommend contacting a local agent for their input. It looks like you have the choice of a number of NJ Trulia Pros for the support you needs.

Good luck

Hi Nick,
There are so many other variables to consider and that makes it difficult to provide you a direct answer. 25' is very narrow. Is there any off street parking at either property? Condition, exact street, surrounding structures, size, age of structure, etc. will impact value. When looking at tax assessments, there are two components. There is an assessment for land, and one for structure. Important: Assessed values do not equal market values. Use for comparing two properties only. You can look at the assessed values for the land on both properties in the tax records. This would give you some insight into the town's perception of value on both parcels as they relate to each other. Not all 25' by lots carry the same value. Different streets carry different values, based upon surrounding properties, traffic patterns, access points, parking, etc. If you were gong to rent this, an ad that states 1.5 blocks to beach will get more inquires....unless....of course, the offering price of the property 2.5 blocks from the beach was aggressive and attractive. For everything stated in this post, there are exceptions and conditions which would provide a different perspective. The right answer to your questions is, "It depends upon too many other factors." I did my best to provide some discussion about these variables and methods to evaluate.

How will you use the property? Investment, personal annual use, personal summer use? Location is the most important factor, but not all streets in Belmar are created equal.
Not all people prefer a 2 story house, and a 25' lot is very narrow! However, if you will use it for investment/rental income, you might want to be closer to the beach. If one property is Multi Family, you will get more bang for your buck.
There are too many things to consider. Why don't you give us some more details or reach out to one or more of the local agents here to help.

Nick,

You are obviously are very diligent and self educated buyer . . . . kudos to you.

Most often in beach towns, proximity to the beach is the predominate variable with the condition of the property secondary and whether or not it contains a rentable "back house" coming in a close 2nd or 3rd. Existing domains with rentable back units are huge as once destructed cannot be reconnstructed and/or added to an existing property.

Again, Belmar/Lake Como is an area within which I am intimately familiar. If you are currently unrepresented by an agent, do not hesitate to give me a call to discuss further.

Sincerely,
Francesca Patrizio, Realtor, ePRO
Francesca@PatrizioRe.com
732.606.2931 (DIRECT/CELL)

Lot size may be important to one buyer and not so important to another, and ranch may be more appealing to one buyer over another. If you were to take an adjustment approach with a market analysis, where we add value for location and other features and deduct for the same. The proximity to the beach will always have added value. I will also note that the 25x100 most likely is an existing non-conforming use structure. Which means you would not be able to make changes to the home in the future without a variance. With the ranch that likely sits on a conforming lot 50x150 offers you the flexibility to add a second story later without obtaining a variance.
There are so many factors involved when placing true value on a home that additional details would be needed to answer this question in whole.
Warmest Regards,
Dawn Marie White Broker-Manager
Crossroads Realty Inc
732-528-6800 Office
732-581-9414 Cell Direct http://www.njwaterfront.com
“Your real estate source at the Jersey Shore”

Hi Nick,

That's a tough question to answer, as it depends on a few things - the specific location in this town - some parts are more residential, some have more rentals, as well the condition of the house. Proximity to the beach is also very important, even on a narrower lot, although most houses within 3 blocks to the beach do well in resales. 2 story vs a ranch? Not as important in my opinion as number of bedrooms & baths. I wish I could give you a better answer. I live in the Avon/Belmar area and am very familiar with it, but I would need more specific details before commenting further. Feel free to contact me directly and I'll be happy to assist you.

The 2 story of course - when the floods come, you'll only lose the bottom half and end up with an elevated ranch. In the ranch house - you'll lose the whole thing.

Which one are you willing to pay more for?