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373 S 10Th

Newark City, NJ 07103
  • $700,000
  • STATUS: Active
  • ON SITE: 43 Days
  • MLS #: 3905481
UPDATED: 134 min ago
$700,000
  • 7
    BEDS
  • N/A
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
  • 2,139
    SQFT
  • $327
    $/SQFT
Type:
Multi-Family
Built:
1902
County:
Area:

School Ratings & Info

Description

Welcome to this remarkable two-family property offering a unique opportunity for both investors and homeowners alike. Nestled in a central location, this residence combines convenience with comfort, making it highly desirable in the market.The main feature of this property is a spacious renovated 2024 5-bedroom, 2-bathroom duplex, offering ample living space for a large family or potential for higher rental income. Unit currently rents for 3,300. Additionally, there is a separate 2-bedroom unit recently renovated , both units commanding market rents, ensuring consistent cash flow for the savvy investor.Currently fully occupied, this property provides immediate rental income, making it an attractive option for investors seeking passive income. The central location adds to its appeal, offering easy access to amenities, transportation, and local attractions, catering to the needs of both tenants and future buyers. Property rents will cover 99% of the mortgage and will cash flow with rental increase. Property qualifies for CLOSING COST PROGRAMProgram provides $20,000 no-interest loans to first-time homebuyers to purchase a home in Newark. Over a five-year period, 20 percent of the loan is forgiven for each full year in which the recipient has lived in the home.MUNICIPAL EMPLOYEE HOUSING ASSISTANCE PROGRAM It?s goal is to encourage City employees to own homes in Newark. It provides $20,000 no-interest forgivable loans to purchase a home in Newark..

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Garden State MLS logo © 2024 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Corcoran Baer & McIntosh. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Corcoran Baer & McIntosh are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2024-07-17T17:46:45.947.
www.baerhomes.com/homes/151281512
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373 S 10Th Newark City, NJ 07103

  • Price: $700,000
  • Status: Active
  • On Site: 43 Days
  • Updated: 134 min ago
  • MLS #: 3905481
7
Beds
3
Baths
0
½ Baths
N/A
Acres
2,139
SQFT
$327
$/SQFT
1902
Built
County:
Essex
Area:
Newark City
Property Description
Welcome to this remarkable two-family property offering a unique opportunity for both investors and homeowners alike. Nestled in a central location, this residence combines convenience with comfort, making it highly desirable in the market.The main feature of this property is a spacious renovated 2024 5-bedroom, 2-bathroom duplex, offering ample living space for a large family or potential for higher rental income. Unit currently rents for 3,300. Additionally, there is a separate 2-bedroom unit recently renovated , both units commanding market rents, ensuring consistent cash flow for the savvy investor.Currently fully occupied, this property provides immediate rental income, making it an attractive option for investors seeking passive income. The central location adds to its appeal, offering easy access to amenities, transportation, and local attractions, catering to the needs of both tenants and future buyers. Property rents will cover 99% of the mortgage and will cash flow with rental increase. Property qualifies for CLOSING COST PROGRAMProgram provides $20,000 no-interest loans to first-time homebuyers to purchase a home in Newark. Over a five-year period, 20 percent of the loan is forgiven for each full year in which the recipient has lived in the home.MUNICIPAL EMPLOYEE HOUSING ASSISTANCE PROGRAM It?s goal is to encourage City employees to own homes in Newark. It provides $20,000 no-interest forgivable loans to purchase a home in Newark..
Exterior Features

Approximate Lot Size 2335 Exterior Description Aluminum Siding Number Of Parking Spaces 0 Parking Driveway Description See Remarks Roof Description See Remarks

Interior Features

Basement Yes Basement Description Full Cooling See Remarks Heating See Remarks Total Number Of Rooms 6 Unit1 Appliances Equipment See Remarks Unit1 Baths 2.0 Unit1 Bedrooms 5 Unit1 Fireplaces 0 Unit1 Handicap Modified No Unit1 Levels 1 Unit1 Room Description See Remarks Unit1 Rooms 5 Unit1 Security Deposit 3300 Unit1 Sq Ft 2139 Unit2 Appliances Equipment See Remarks Unit2 Baths 1.0 Unit2 Bedrooms 2 Unit2 Fireplaces 0 Unit2 Levels 2 Unit2 Room Description See Remarks Unit2 Rooms 3 Unit2 Sq Ft 2139

Property Features

Assessment Total 168700 Building Assessment 140500 Easement No Fha Age Restricted No Fuel Type See Remarks Gross Operating Income 0 Land Assessment 28200 Net Operating Income 0 Renovated Year 2023 Sewer See Remarks Tax Amount 6303 Tax Rate Amount 20.900 Tax Rate Year 2022 Tax Year 2022 Total Operating Expense 0 Unit Style 3-Three Story Unit1 Owner Tenant Pays Owner Pays WaterTenant Pays ElectricTenant Pays GasTenant Pays Heat Unit1 Rent 3300 Unit2 Handicap Modified No Unit2 Owner Tenant Pays Owner Pays WaterTenant Pays ElectricTenant Pays GasTenant Pays Heat Unit2 Rent 1750 Unit2 Security Deposit 1750 Utilities See Remarks Water See Remarks Water Heater See Remarks Year Built Description Approximate Zoning X

Listing information © 2024 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of WEICHERT REALTORS: 347-819-1834.


Garden State MLS logo © 2024 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Corcoran Baer & McIntosh. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Corcoran Baer & McIntosh are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2024-07-17T17:46:45.947.
 
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