Denisce Carrero

Sales Associate
DRE#

50 drakestown rd, Mount Olive Twp., NJ 07840

$2,900,000

  • Open House
  • New Listing
  • Price Reduced
  • Pending
  • virtual Tour
  • VIRTUAL SHOWING
  • Sold
  • 10 BedroomBeds
  • 3 BathroomBaths
  • 35.09 Acres
  • 5,900 Sqft
  • Condo/Townhouse
  • Active
  • MLS# 4011393
-1 More Schedule
  • 10 BedroomBeds
  • 3 BathroomBaths
  • 35.09Acres
  • Condo/TownhouseType
  • ActiveStatus
  • Sold On
-1 More Schedule

Property Description 50 Drakestown Rd, Mount Olive Twp., NJ 07840

Unique Property. Victorian Mansion. 35.09 acres of improved land with an extensive array of existing structures and amenities. Due to Highlands regulations, further subdivision or redevelopment is restricted, making this ideal for a buyer seeking to rehabilitate, restore, or continue use of the existing improvements. At the heart of the property is a Victorian era residence showcasing historic craftsmanship. Home features fireplaces, hardwood flooring, stonework, current permit for 10 furnished rooms in main house. An efficiency apartment in main residence The expansive grounds include several multifamily residential buildings with rental potential, approx 24 one room cabins, and rec hall. The property features sheds, workshops & utility buildings, Additional amenities include designated trailer and RV sites with existing infrastructure, 6 established campsite pads with fire pits. Electric service throughout the grounds supporting a variety of recreational and operational uses including an inground pool with picnic area, hot tub, sun deck, volleyball & shuffleboard courts. The expansive layout and existing features provide flexibility for a variety of permitted uses, The property does require rehabilitation and is best suited for a buyer with vision who understands the value of improving and maintaining existing structures within the Highlands framework. A rare opportunity to acquire a large, improved tract with historic character.

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Property Details 50 Drakestown Rd, Mount Olive Twp., NJ 07840

General

  • County: Morris
  • List Date: 02/25/2026
  • Style: Custom Home, Victorian
  • Beds: 10
  • Full Bathrooms: 3
  • Year Built: 1820
  • Sq. Ft.: 5,900
  • Lot Description: Corner, Open Lot, Wooded Lot
  • Garage/Parking Spaces: 2.00
  • Garage Description: Detached Garage
  • Tax Amount.: $32,431
  • Tax Year: 2025
  • Basement: Yes
  • Total Rooms: 15

Interior Features

  • Number of Fireplaces: 3
  • Heating: See Remarks
  • Cooling: See Remarks
  • Water: Public Water
  • Sewer: Cesspool, See Remarks, Septic
  • Fuel Type: Oil Tank Below Ground
  • Appliances: Carbon Monoxide Detector, Dishwasher

Exterior Features

  • Exterior Features: Deck, Open Porch(es), Outbuilding(s), Patio, Storage Shed, Workshop
  • Roof Type: Rubberized, Slate
  • Pool: Yes
  • Pool Description: In-Ground Pool
  • Exterior Description: Wood

Market Watch - Mount Olive-Flanders

An overview of available properties in Mount Olive-Flanders, reflecting month-over-month change.
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Area Map

 

Located approximately 45 miles west of Manhattan, Mount Olive Township in Morris County includes several different sections including Flanders, Budd Lake (the largest natural lake in New Jersey ), Drakestown and Bartley. This 32-square mile municipality was established in 1871 and has a current population of about 24,000.

In its early days, Mount Olive 's main industry was farming. Budd Lake was a popular resort area in the early 1900s, a place where visitors vacationed in tented colonies and bungalows. After World War II, the township started to become more residential in nature, with neighborhoods like Clover Hill in Flanders developing in the early 1960s. This trend continues today as people discover the relaxed suburban lifestyle offered in Mount Olive .

Community Life

A strong network of locally-focused civic organizations such as the Kiwanis, Lions Club, Rotary and scouting programs keep citizens involved in the community. Houses of worship, an excellent library, active senior citizen group, recreation department and sports teams for all ages enhance the quality of life in Mount Olive .

Budd Lake is a summertime destination for many in the township, who are offered free admission to the sandy beach. Special events include outdoor concerts, family camping and movie nights, teen gladiator night, a sailing regatta and themed parties. Vasa Park off Route 46 in Budd Lake has annual events such as the Return of the Indian Spirit to celebrate Native American culture and the ever-popular Scandinavian Festival.

Shopping needs can be met at many of the businesses located along Route 46 or 206. The International Trade Center Crossing is the largest shopping mall in the township and offers a Lowe's, Wal-Mart, Pier One, Old Navy, TJ Maxx, Sam's Club, Staples, Michael's, Bed, Bath and Beyond, and a number of restaurants and services.

Education

Mount Olive has four grade schools: the Chester M. Stephens Elementary School, Mountain View School, Sandshore School and Tinc Road School . The township also has a middle school and a high school.

St. Michael School in the bordering town of Netcong is a private parochial school for pre-kindergarten through grade 8. The Mount Olive Community School in Budd Lake has a variety of programs for adults to improve their personal and professional lives.

Real Estate

Diverse housing options in Mount Olive vary greatly. Architecture ranges from newly-constructed luxury homes, stately center hall Colonials in leafy suburban neighborhoods; mid-century ranches, split level and bi-level homes, or modest houses with smaller layouts, many of which were formerly seasonal cottages in the Budd Lake area. There are several town house, condominium and rental communities in the township located on or near Route 46 for commuters.

Transportation

The township is centrally located for commuters headed to New York City or business campuses outside Mount Olive . Interstate 80 passes through Mount Olive 's borders as well as Routes 46 and 206. New Jersey Transit train service is available in Mount Olive . The Montclair-Boonton and Morristown lines offer access to Manhattan, Newark and Hoboken from the station on Waterloo Road

Local Attractions

Budd Lake -named for early citizen John Budd--was formed by glaciers and encompasses 374 acres. This former summer resort serves as the headwaters of the South Branch of the Raritan River . The lake can be seen from Route 46 West and offers free admission to residents.

Mount Olive has a number of parks including Turkey Brook, a 267-acre park for fishing and hiking on Flanders Road ; sports fields at Powerline Park on Cloverhill Drive in Flanders; sports fields and courts at Flanders Park on Flanders-Bartley Road and outdoor playgrounds at each of the township's four elementary schools.

  • Population: 28117

  • Area: 31 sq. miles

  • Established: 1871

  • Distance from NYC: 48

  • Distance from Philadelphia: 85

  • Distance from Newark: 38

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