12 Rutgers Dr #12 · Newark, NJ 07103-3064

$209,000

3 bd · 2.5 ba · 1,450 sqft · Condo · 123 Days on market

Built 1990 Poor condition $575/mo HOA · 21% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +17.3/30.0
• 1% rule +8.2/10.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• Appreciation +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +1.4/10.0
• Condition / age +1.0/5.0

Listing remarks MLS

FIXER-UPPER OPPORTUNITY " END UNIT TOWNHOUSE Unique investment opportunity in the sought-after Society Hill Neighborhood! Conveniently located in the desirable University Heights section of Newark, just minutes from the Essex County Court Complex. Don't miss this multi-level end-unit townhouse in need of rehab, offering excellent upside potential. The main level features a kitchen, living/dining area, laundry, half bath, fireplace, and balcony. The upper level includes three bedrooms and two full bathrooms. Ideal for investors or buyers looking to renovate and customize in a prime location. Buyer is responsible for all city inspections and certifications. Property is being sold AS-IS strictly. Property priced to reflect condition

Key facts

• Kitchen
• Living dining area
• Multi-level

Tags

• END UNIT TOWNHOUSE
• SOCIETY HILL NEIGHBORHOOD
• UNIVERSITY HEIGHTS SECTION
• MULTI-LEVEL
• KITCHEN
• LIVING DINING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $209k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $209k).
• Recommended offer: $184k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.0% in Newark — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 67/100 on livability (#343 in NJ) — a middle-class / working-renter tenant base. Strengths: commute A+, amenities A-; Watch: schools D+, housing D+, crime F.
• Newark Public School District (urban): math 9% / reading 26% proficiency, ranked #452 of 472 in NJ (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 1 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 3,364 units permitted in Essex County in 2024 (2,551 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $6k appreciation (3.0% local appreciation)).
• Essex County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.32% ✓
• Cap rate: 7.18%
• Cash-on-cash: 3.16%
• DSCR: 1.14
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.6%
• Equity multiple: 1.60×
• Total profit: $35,387
• Equity at exit: $93,975

10-year hold

• IRR: 12.9%
• Equity multiple: 2.93×
• Total profit: $112,795
• Equity at exit: $144,827

Cash invested: $58,520 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City Newark: 0 Strongly Tenant-Friendly · D+59

Rent control + strict just-cause.

Methodology + full state rankings →

ZIP-level market 07103-3064

• Active inventory: 1
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $2,751 high
• Mortgage (P&I): −$1,096
• Tax est. 1.5%: −$261 /mo · $3,135/yr
• Insurance: −$87
• HOA: −$575
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $154

Break-even live

Break-even rent $2,556

Max offer price $209,000

Occupancy floor 89%

Sensitivity live

Price	-10% $299	-5% $226	+0% $154	+5% $82	+10% $10
Rent	-10% $-63	-5% $45	+0% $154	+5% $263	+10% $371
Rate	-1.0pp $259	-0.5pp $207	base $154	+0.5pp $100	+1.0pp $45

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Arlington St Newark, NJ	2.0	2.5	1400	$3,000	$2.14	26d	1	0.31mi
3 Ashby Ln Newark, NJ	3.0	2.0	1350	$4,200	$3.11	26d	1	0.36mi
44 Irvine Turner Blvd Newark, NJ	2.0	1.0–2.0	800	$2,900	$3.62	0d	15	0.37mi
45 William St Newark, NJ	2.0	1.0–2.0	792	$3,100	$3.91	11d	4	0.39mi
19 Livingston St Unit 2-2 Newark, NJ	2.0	2.0	1100	$2,550	$2.32	26d	1	0.40mi
270 Hunterdon St Unit 1 Newark, NJ	3.0	2.0	1050	$2,600	$2.48	8d	1	0.55mi
144 Washington St Unit A Newark, NJ	3.0	1.0	1100	$3,050	$2.77	26d	1	0.60mi
91 Halsey St Newark, NJ	2.0	1.0	1072	$2,650	$2.47	3d	2	0.61mi
11 Clinton St Newark, NJ	1.0–2.0	1.0	874	$2,500	$2.86	0d	8	0.64mi
50 Sussex Ave Newark, NJ	2.0	1.0–2.0	730	$3,500	$4.79	18d	1	0.65mi
111 Mulberry St Unit 7th Floor Newark, NJ	2.0	1.0	1000	$2,500	$2.50	26d	1	0.70mi
10 Commerce Ct Newark, NJ	1.0–2.0	1.0	750	$2,957	$3.94	7d	48	0.71mi
14 Summit St Unit Main Newark, NJ	3.0	2.0	1500	$3,051	$2.03	18d	1	0.73mi
784 Doctor Martin Luther King Junior Blvd Unit 101 Newark, NJ	2.0	1.0	1200	$1,600	$1.33	15d	1	0.73mi
90 Clinton Ave Newark, NJ	2.0	2.0	1082	$2,050	$1.89	8d	1	0.74mi
58 Norfolk St Newark, NJ	1.0–2.0	1.0–2.0	712	$2,800	$3.93	3d	21	0.75mi
50 Norfolk St Newark, NJ	1.0–2.0	1.0–2.0	905	$2,600	$2.87	3d	2	0.76mi
307 Littleton Ave Unit 3A Newark, NJ	2.0	1.0	900	$1,895	$2.11	26d	1	0.77mi
306 S 6th St Unit 3 Newark, NJ	3.0	2.0	1000	$2,000	$2.00	26d	1	0.78mi
10 Central Ave Newark, NJ	2.0	1.0–2.0	1010	$3,275	$3.24	5d	20	0.80mi
65 Hudson St Unit 1 Newark, NJ	4.0	1.0	1200	$2,450	$2.04	26d	1	0.80mi
294 S 7th St Unit 2 Newark, NJ	2.0	1.0	1400	$2,050	$1.46	11d	1	0.82mi
2 Center St Newark, NJ	2.0	1.0–2.0	903	$4,051	$4.48	0d	12	0.82mi
254 Orange St Newark, NJ	1.0–3.0	1.0–2.0	816	$3,555	$4.35	0d	14	0.86mi
64 1st St Unit 3 Newark, NJ	3.0	1.5	999	$2,500	$2.50	26d	1	0.88mi
289 Muhammad Ali Ave Newark, NJ	3.0	1.5	1518	$2,700	$1.78	7d	1	0.89mi
271-273 S 8th St Newark, NJ	4.0	1.5	1350	$2,195	$1.63	8d	1	0.89mi
115b 16th Ave Unit 115 Newark, NJ	3.0	2.0	1526	$2,650	$1.74	26d	1	0.90mi
7 Hudson St Unit 2 Newark, NJ	3.0	1.0	1400	$2,500	$1.79	23d	1	0.94mi
6 Hecker St Unit A Newark, NJ	3.0	1.0	1296	$2,550	$1.97	18d	1	0.96mi
42-50 Vesey St Newark, NJ	1.0–2.0	1.0–2.0	966	$3,195	$3.31	3d	5	0.97mi
125 S 8th St Newark, NJ	2.0	1.0	1032	$2,150	$2.08	26d	1	0.98mi
289 Rose St Newark, NJ	2.0	1.5	1152	$2,300	$2.00	0d	1	0.99mi
468 Springfield Ave Newark, NJ	3.0	1.0	1000	$2,200	$2.20	18d	1	0.99mi
37 S 7th St Unit 3 Newark, NJ	3.0	2.0	1343	$2,850	$2.12	22d	1	1.01mi
58 Wright St Unit 2nd Floor Newark, NJ	3.0	2.0	1350	$2,400	$1.78	26d	1	1.01mi
357-359 S 11th St Unit 2&3 Newark, NJ	3.0	2.0	1396	$3,190	$2.29	6d	1	1.04mi
357-359 S 11th St Unit 2 Newark, NJ	3.0	2.0	1396	$2,990	$2.14	0d	1	1.04mi
55 Union St Newark, NJ	2.0	1.0–2.0	852	$3,899	$4.57	4d	14	1.05mi
258 S 11th St Newark, NJ	3.0	1.0–2.0	1200	$2,095	$1.75	8d	2	1.06mi

HOA detail condo

• Monthly dues: $575 · $6,900/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-21
   days on market $209,000 Active 123 DOM
2. 2026-06-18
   days on market $209,000 Active 120 DOM
3. 2026-06-17
   days on market $209,000 Active 119 DOM
4. 2026-06-16
   days on market $209,000 Active 118 DOM
5. 2026-06-15
   days on market $209,000 Active 117 DOM
6. 2026-06-13
   days on market $209,000 Active 115 DOM
7. 2026-06-13
   days on market $209,000 Active 114 DOM
8. 2026-06-09
   days on market $209,000 Active 111 DOM
9. 2026-06-08
   days on market $209,000 Active 110 DOM
10. 2026-06-07
    days on market $209,000 Active 109 DOM
11. 2026-06-04
    days on market $209,000 Active 106 DOM
12. 2026-06-03
    days on market $209,000 Active 105 DOM
13. 2026-06-02
    days on market $209,000 Active 104 DOM
14. 2026-06-01
    days on market $209,000 Active 103 DOM
15. 2026-05-31
    days on market $209,000 Active 102 DOM
16. 2026-02-17
    listed $209,000 Active 744-char remark

    Show marketing remark (744 chars)

    FIXER-UPPER OPPORTUNITY " END UNIT TOWNHOUSE Unique investment opportunity in the sought-after Society Hill Neighborhood! Conveniently located in the desirable University Heights section of Newark, just minutes from the Essex County Court Complex. Don't miss this multi-level end-unit townhouse in need of rehab, offering excellent upside potential. The main level features a kitchen, living/dining area, laundry, half bath, fireplace, and balcony. The upper level includes three bedrooms and two full bathrooms. Ideal for investors or buyers looking to renovate and customize in a prime location. Buyer is responsible for all city inspections and certifications. Property is being sold AS-IS strictly. Property priced to reflect condition

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,015
• − Mortgage interest: −$11,707
• − Property taxes: −$3,135
• − Insurance: −$1,045
• − Repairs & maintenance: −$2,641
• − Management: −$2,641
• − HOA: −$6,900
• − Depreciation: −$6,080
• Taxable loss: −$1,135
• Est. tax savings @ 24.0%: +$272
• After-tax cash flow: $2,122/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Poor 20/100 Extensive rehab

This end-unit townhouse in the Society Hill Neighborhood requires extensive renovations to bring it up to current standards. The kitchen and bathrooms are in poor condition and need major updates. The exterior siding and windows also require attention. Improvements in these areas will significantly increase its resale and rental value.

Repairs flagged

• Major kitchen cabinets — severely outdated and in poor condition
• Major kitchen appliances — outdated and in poor condition
• Major bathroom fixtures — outdated and in poor condition
• Major flooring — dated linoleum, visible wear
• Major interior walls — paint peeling, visible damage
• Major exterior siding — brick siding in need of cleaning, visible wear
• Major windows — old, single-pane windows, need replacement

Value-add opportunities

• Resale kitchen renovation — modernizing the kitchen will attract more buyers
• Resale bathroom renovation — modernizing the bathrooms will attract more buyers
• Both exterior cleaning and landscaping — improving curb appeal will attract both buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely outdated and in poor condition	Major	$15,000–50,000
kitchen appliances · outdated and in poor condition	Major	$15,000–50,000
bathroom fixtures · outdated and in poor condition	Major	$15,000–50,000
flooring · dated linoleum, visible wear	Major	$15,000–50,000
interior walls · paint peeling, visible damage	Major	$15,000–50,000
exterior siding · brick siding in need of cleaning, visible wear	Major	$15,000–50,000
windows · old, single-pane windows, need replacement	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Resale kitchen renovation — modernizing the kitchen will attract more buyers ↑
• Resale bathroom renovation — modernizing the bathrooms will attract more buyers ↑
• Both exterior cleaning and landscaping — improving curb appeal will attract both buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Newark Public School District
• NCES district ID: 3411340
• Math proficiency: 9% ▼ -17.00%
• Reading proficiency: 26% ▼ -10.00%
• Median HH income: $33,891
• Composite: 14.24/100
• National rank: #9449
• State rank: #452 of 472 in NJ

Livability — Newark

• Score: 67/100
• State rank: #343
• US rank: #11138

Category grades

Amenities A- Commute A+ Cost of living F Crime F Employment D- Housing D+ Health & safety B- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Newark, NJ

Population outlook (Essex County) Hauer SSP2

• Today (2025): 825,042 people
• By 2030: 834,010 · +1.1%
• By 2040: 846,221 · +2.6%
• By 2050: 850,047 · +3.0%
• By 2075: 837,009 · +1.5%
• By 2100: 784,345 · -4.9%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.05%
• F500 in state: 34

Industry mix (Fortune 500 HQ in NJ)

Industry	F500 HQs	Revenue
▸Consumer Goods	3	$31B
▸Pharmaceuticals	2	$153B
▸Technology	2	$21B
▸Insurance	2	$20B
▸Healthcare	2	$19B
▸Financial Services	1	$70B

Price history

1 event — show timeline

• 2026-02-17 Listed $209,000 GSMLS