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3804 Balsam Way, Basking Ridge, NJ, 07920

0beds
1baths
--sqft
$160,000
--price/sqft
$1,284/moest. monthly cost
$51,360/yrincome needed

About This Home

Welcome to this well-maintained ground-floor efficiency studio located in The Cedars, one of Basking Ridge's most desirable condominium communities. This unit is part of the NJ affordable housing moderate-income unit, offers a smart, functional layout ideal for low-maintenance living.The kitchen features white cabinetry, ample counter space, a gas range, microwave, and refrigerator, and opens seamlessly into the dining area, which flows into the main living space. Sliding glass doors off the dining area lead to a small private concrete patio with a gate providing direct access to the parking lot perfect for added convenience.Additional highlights include a very large walk-in closet offering exceptional storage and a bathroom with an updated vanity. The heating and central air conditioning system are only a few years old, providing comfort and efficiency year-round.Residents of The Cedars benefit from an array of amenities, including a clubhouse, two swimming pools, three tennis courts, a playground, and basketball courts.Ideally located near shopping, dining, and major commuting routes, this home presents a wonderful opportunity to own in one of Basking Ridge's most desirable communities. Don't miss it! This is part of NJ Affordable housing and income and other requirements must be met. Income at or under $85,920 for individual applicant and at or under $98,240 combined income for 2 applicants

Getting Around

4
WalkingCar-Dependent
0
TransitVery Limited Transit
28
BikeSomewhat Bikeable

Schools

9/10
7/10
Ridge High SchoolGrades 9-122.5 mi

Construction

Condition

  • Year built: 1991

Materials

  • Roof: See Remarks
  • Construction materials: Wood Siding

Type & Style

  • Home type: Condo
  • Property subType: Condominium

Interior

Appliances

  • Appliances included: Carbon Monoxide Detector,Dryer,Range/Oven-Gas,Refrigerator,Washer

Basement

  • Basement: None

Bedrooms & Bathrooms

  • Bathrooms: 1
  • Full bathrooms: 1

Dining Room

  • Level: First

Features

  • Walk-In Closet(s)
  • Flooring: Carpet

Heating & Cooling

  • Heating features: 1 Unit,Forced Air,Natural Gas
  • Cooling features: 1 Unit,Central Air

Kitchen

  • Features: Separate Dining Area
  • Level: First

Living Room

  • Level: First

Property

Details

  • Parcel number: 2702090010000000380002CONDO

Features

  • Levels: One,One Floor Unit
  • Stories: 1
  • Private pool: Yes
  • Pool features: Association

Lot

  • Lot size dimensions: 0.0

Parking

  • Parking features: Common

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Inland Flooding
    Inland FloodingVery High
  • Lightning
    LightningRelatively High
  • Strong Wind
    Strong WindRelatively High
  • Winter Weather
    Winter WeatherRelatively High
  • Cold Wave
    Cold WaveModerate
  • Heat Wave
    Heat WaveModerate
  • Ice Storm
    Ice StormModerate
  • Tornado
    TornadoModerate

How This Home’s Risks Compare

Inland Flooding
Lightning
Strong Wind
Winter Weather
Cold Wave
Heat Wave
Ice Storm
Tornado

FEMA Declared Disasters Across New Jersey Counties

Fire
Severe Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $809$9,708
Home Insurance *$45$540
Property Taxes $237$2,844
Electricity $193$2,318
Total$1,284$15,408
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$44,022/yr
40% on housing$38,520/yr
45% on housing$34,240/yr

New Jersey FAIR Plan Programs

New Jersey Insurance Underwriting Association

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 7,029Commercial: 173
Total Premiums$5.54M
Total Exposure$1.19B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 8.3%
8.3%
0%30.0%
Electricity Growth Rate10-year average: 7.1%
7.1%
0%15.0%
Property Taxes Growth Rate2-year average: 1.0%
1.0%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

--This listing

vs Other Active Listings

Avg $/sqft

ZIP 07920$388
Somerset County$343

vs Homes Sold Last Month

Median $/sqft

ZIP 07920$409
Somerset County$348

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-04-29Listed for sale$169,114
2002-06-10Sold$87,085
1999-12-22Sold$78,550

For Sale by Agent

AgentLinda Parisi
BrokerageRe/Max Achievers

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