40 Spillway Drive
Alloway, NJ, 08001 $ 320,000
Bedrooms4 Baths2.0 Sq 1,312 Monthly Estimate*
$ 1,970
for $320,000 with 4 bedrooms and 2 full baths. This 1,312 square foot home was built in 1934 on a lot size of 1.05.
Discover the potential of 40-42 Spillway Drive - two separate homes set on a beautiful one-acre lot with mature trees and room to expand. Whether youre an investor, flipper, or buyer looking for multi-income potential, this property offers an incredible opportunity. The main house (#42) features three bedrooms, one full bath, eat-in kitchen, and a large living room anchored by a decorative brick fireplace. Freshly painted with newer flooring in key areas, its clean and move-in ready while leaving plenty of room for value-adding improvements. The home also includes solar panels for energy savings and a full basement that could be finished for additional living. Outside, youll find an expansive yard, private setting, and detached storage shed - perfect for tools, equipment, or future projects. Tucked beside the main home, (#40) is a cozy one bedroom bungalow offering a world of opportunity. Whether used as a rental unit, guest house, or extended-family suite, it delivers flexibility and strong income potential. Inside, the home features a comfortable living room, updated kitchen with modern cabinetry, and a full bath. The main-level bedroom provides easy convenience, while the loft area upstairs offers bonus space - perfect for a second bedroom, home office, or studio. With private entrances, separate utilities and two septic systems (shared well), and a quiet setting, this opportunity is ideal for investors looking for multi-unit income or homeowners seeking extra space for guests, hobbies, or short-term rental possibilities. Dont delay, schedule you private tour of this unique property today! Being Sold STRICTLY as-is, where is- Buyer is responsible for ANY/ALL inspections and certificates for the property. Certificate of Occupancy has been received for both homes-see Bright documents. Multi-Family - MLS# NJSA2016856
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FeaturesGeneralLiving Area 1312
Sewer On Site Septic
Heating Baseboard - Hot Water
Cooling Window Unit(s)
Possession 31-60 Days CD
Zoning RESIDENTIAL
Patio/Porch Features Porch(es)
Architectural Style Bungalow Ranch/Rambler
Construction Materials Frame
School District ALLOWAY TOWNSHIP PUBLIC SCHOOLS
Exclusions Tenants possessions
Year Built 1934
Levels 1
Tax Year 2024
Ownership Fee Simple
Cool Fuel Electric
Municipality ALLOWAY TWP
Accessibility None
County SALEM
New Construction N
Property Type Residential
HOA N
Subdivision Name PARADISE LAKES
Garage Y/N N
Water Access Y/N N
Green Energy Generation PV Solar Array(s) Leased
Other Structures Above Grade Below Grade
Full Baths 2
Status PENDING
Directions Telegraph Road to Spillway Drive
City ALLOWAY
Senior Community Y/N N
MLS Area Alloway Twp (21701)
Lot Size Units Square Feet
Lot Size Square Feet 45738.00
Tax Annual Amount 6137.0
Home Warranty Y/N N
Structure Type Detached
Condo/Coop Association fee Y/N N
Bathrooms Full Main Level 2
Bathrooms Count Main Level 2.00
Price Per Sq Ft Total AG 243.9
Acceptable Financing Cash Conventional USDA VA FHA
Vacation Rental Y/N N
Standard Status Pending
Year Built Source Assessor
Tax Lot 00002
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InteriorInterior Amenities Bathroom - Tub Shower Built-Ins Carpet Ceiling Fan(s) Combination Kitchen/Dining Entry Level Bedroom Kitchen - Eat-In Kitchen - Table Space Water Treat System
Heating Fuel Oil
Basement Full
Total Fireplaces 1
Fireplace Features Non-Functioning
Hot Water Electric
Basement (Y/N) Y
Heating Y/N Y
Fireplace Y/N Y
Above Grade Finished Area 1312
Half Baths 0
Central Air Y/N N
Total Bedrooms 4
Below Grade Finished Area 0
Room Type Living Room Bedroom 2 Bedroom 3 Kitchen Foyer Bedroom 1 Loft Mud Room Office
Main Level Bedrooms 4
Below Grade Finished Area Unit Type Square Feet
Below Grade Finished Area Source Assessor
Above Grade Finished Area Source Assessor
Above Grade Finished Area Unit Type Square Feet
Total Baths 2
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ExteriorPool No Pool
Parking Features Asphalt Driveway Shared Driveway Circular Driveway
Lot Features Backs to Trees
Water Source Well
Inclusions Refrigerator (1) Microwave (1) Range (2) Washer (1) Dryer (1) Window A/C
Type of Parking Driveway
Foundation Details Block
Water View Y/N N
Lot Dimensions 248.00x138.00
Lot Size Acres 1.05
Lot Size Source Assessor
Waterfront Y/N N
Land Assessed Value 50300.00
Navigable Water Y/N N
Water Oriented Y/N N
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* Excluded FeaturesList ByKeller Williams Realty - Washington TownshipBroker
team+bright@mikesellsnj.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $1,970
- Monthly Property Taxes
- $511
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbySingle family listings in Alloway, NJ
Average List Price $360,543
Percent of Sale Price 13%
About Alloway, NJ 3,478 Population
24% Since 2002
$ 70,859 Median Income
42.01 Median Age
32% Households with Children
Trends Information provided by ATTOM Data Solutions.
5237992 Elementary School
4063151 Middle School
Woodstown H.S. High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 10/30/2025 | $320,000 | | Listed Price |