168 Christie St #2 · Newark, NJ 07105-3916

$500,000

4 bd · 3.0 ba · — sqft · Condo · 272 Days on market

Built 1900 Fair condition

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Cash flow +4.3/30.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.4/10.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Great 2 Family Property opportunity in the IRONBOUND SECTION. Close to Major Highways (Turnpike, 1&9 ), Close to the Park, schools and Shopping. Easy to commute to NYC. 2 spacious Beds,1Bath, Kitchen & living room in each floor All Utilities are separated, Finished Basement with bathroom. 2nd Floor under renovations. Property Sold STRICTLY "AS IS", NO concessions neither credit back to buyers. Buyers responsible to obtain all the C/O & CFO with town. EMD of 20% required. Property will be delivered vacant.

Key facts

• 1,742 sq ft lot
• Built 1900
• Listed 271 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath condo listed at $500k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $308k (38.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (46.2% below list).
• Recommended offer: $269k (46.2% below list) — sets the bar for 1% rule.

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 at typical pace (median 26d on market — plan ~3-4 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 $18k of equity ($3k loan paydown + $15k appreciation (3.0% local appreciation)).
• Essex County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 272 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $269,194 (46.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 272 days. Have you received any prior offers? Is the seller open to a 46% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 0.54% ✗
• Cap rate: 3.10%
• Cash-on-cash: -11.39%
• DSCR: 0.49
• GRM: 15.5

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: -3.0%
• Equity multiple: 0.83×
• Total profit: $-24,356
• Equity at exit: $224,822

10-year hold

• IRR: 1.5%
• Equity multiple: 1.23×
• Total profit: $32,033
• Equity at exit: $346,477

Cash invested: $140,000 (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 07105-3916

• Active inventory: 1
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $2,692 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $-1,329

Break-even live

Break-even rent $4,374

Max offer price $307,727

Occupancy floor —

Sensitivity live

Price	-10% $-983	-5% $-1,156	+0% $-1,329	+5% $-1,502	+10% $-1,674
Rent	-10% $-1,541	-5% $-1,435	+0% $-1,329	+5% $-1,222	+10% $-1,116
Rate	-1.0pp $-1,077	-0.5pp $-1,202	base $-1,329	+0.5pp $-1,458	+1.0pp $-1,590

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
467 Ferry St Unit 1 Newark, NJ	4.0	2.0	—	$2,900	—	18d	1	0.14mi
467 Ferry St Unit 1 Newark, NJ	4.0	2.0	—	$2,799	—	26d	1	0.14mi
55 Lentz Ave Newark, NJ	3.0	2.0	—	$1,990	—	0d	1	0.18mi
11 Lentz Ave Newark, NJ	3.0	1.0	—	$2,600	—	26d	1	0.22mi
41-43 Manufacturers Pl Newark, NJ	4.0	2.0	—	$3,200	—	26d	1	0.25mi
29 Manufacturers Pl Unit 2 Newark, NJ	3.0	2.0	1300	$2,500	$1.92	26d	1	0.25mi
104 Fleming Ave #201 Newark, NJ	3.0	2.0	1100	$3,300	$3.00	26d	1	0.26mi
42 Magazine St Newark, NJ	3.0	1.0	—	$2,000	—	26d	1	0.40mi
55 Ferguson St Unit 2 Newark, NJ	3.0	2.0	1113	$2,900	$2.61	26d	1	0.62mi
21 Hensler St Unit 3 Newark, NJ	3.0	1.0	—	$2,550	—	26d	1	0.63mi
110-112 Gotthart St Unit 1 Newark, NJ	3.0	2.0	—	$2,800	—	26d	1	0.73mi
108 Gotthart St Unit 1 Newark, NJ	3.0	2.0	1200	$2,900	$2.42	26d	1	0.74mi
108 Gotthart St Unit 1301598P Newark, NJ	4.0	2.0	1300	$3,450	$2.65	26d	1	0.74mi
385 Lafayette St Unit 2 Newark, NJ	3.0	2.0	—	$2,500	—	26d	1	0.79mi
52 Gotthart St Unit 2 Newark, NJ	3.0	2.0	—	$2,850	—	26d	1	0.87mi
198 Van Buren St Unit 2 Newark, NJ	3.0	2.0	—	$2,700	—	26d	1	0.96mi
345 Walnut St Unit 1R Newark, NJ	3.0	2.0	1250	$2,600	$2.08	8d	1	0.97mi
345 Walnut St Unit 3R Newark, NJ	4.0	2.0	1350	$2,900	$2.15	8d	1	0.97mi
411 E Kinney St Newark, NJ	3.0	1.0	—	$1,800	—	18d	1	0.97mi
411 McGuigan Pl Unit 3 Harrison, NJ	3.0	1.0	—	$2,100	—	26d	1	1.14mi
96 Nichols St Newark, NJ	4.0	1.0	—	$2,700	—	0d	1	1.17mi
96 Nichols St Unit 2 Newark, NJ	4.0	1.0	1000	$2,700	$2.70	7d	1	1.17mi
330 Taft Pl Harrison, NJ	3.0	1.0	—	$2,700	—	26d	1	1.21mi
330 Taft Pl Harrison, NJ	3.0	1.0	—	$2,650	—	22d	1	1.21mi
171 Clifford St Unit 1 Newark, NJ	3.0	2.0	1045	$3,090	$2.96	26d	1	1.25mi
717 Jersey St Unit 2 Harrison, NJ	3.0	2.0	—	$2,650	—	26d	1	1.25mi
200 Angelo Cifelli Dr Harrison, NJ	3.0	1.0–2.0	649	$4,425	$6.81	0d	53	1.26mi
217 Walnut St Unit 2 Newark, NJ	3.0	2.0	—	$2,600	—	8d	1	1.26mi
136 Elm St Unit 303 Newark, NJ	3.0	1.0	—	$2,499	—	26d	1	1.27mi
301 E Frank Rodgers Blvd S Harrison, NJ	3.0	1.0	—	$2,500	—	26d	1	1.30mi
305 Ann St Unit 2 Harrison, NJ	3.0	1.0	—	$2,800	—	16d	1	1.30mi
16 Ann St Unit 2 Harrison, NJ	3.0	1.0	—	$2,300	—	26d	1	1.34mi
426 Jersey St Unit 1+Ground fl Harrison, NJ	3.0	3.0	—	$3,400	—	26d	1	1.35mi
760 Harrison Ave Unit 3 Harrison, NJ	3.0	1.0	500	$2,200	$4.40	20d	1	1.36mi
109 Frank E Rodgers Blvd S Unit 2 Harrison, NJ	4.0	2.5	—	$3,000	—	8d	1	1.36mi
416 Jersey St Unit 1st FL Harrison, NJ	3.0	3.0	1500	$3,800	$2.53	26d	1	1.36mi
92-94 Pacific St Unit 1st Floor Newark, NJ	3.0	1.0	900	$2,200	$2.44	26d	1	1.39mi
92 Pacific St Newark, NJ	3.0	1.0	1200	$2,300	$1.92	26d	1	1.39mi
7 Franklin Ave Unit 6 Harrison, NJ	3.0	1.0	980	$2,550	$2.60	23d	1	1.39mi
7 Franklin Ave Unit 5&6 Harrison, NJ	3.0	1.0	—	$2,450	—	26d	1	1.39mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $500,000 Active 272 DOM
2. 2026-06-18
   days on market $500,000 Active 269 DOM
3. 2026-06-17
   days on market $500,000 Active 268 DOM
4. 2026-06-16
   days on market $500,000 Active 267 DOM
5. 2026-06-15
   days on market $500,000 Active 266 DOM
6. 2026-06-13
   days on market $500,000 Active 264 DOM
7. 2026-06-13
   days on market $500,000 Active 263 DOM
8. 2026-06-09
   days on market $500,000 Active 260 DOM
9. 2026-06-08
   days on market $500,000 Active 259 DOM
10. 2026-06-07
    days on market $500,000 Active 258 DOM
11. 2026-06-04
    days on market $500,000 Active 255 DOM
12. 2026-06-03
    days on market $500,000 Active 254 DOM
13. 2026-06-02
    days on market $500,000 Active 253 DOM
14. 2026-06-01
    days on market $500,000 Active 252 DOM
15. 2026-05-31
    days on market $500,000 Active 251 DOM
16. 2025-10-08
    status Active 533-char remark

    Show marketing remark (533 chars)

    Great 2 Family Property opportunity in the IRONBOUND SECTION. Close to Major Highways (Turnpike, 1&9 ), Close to the Park, schools and Shopping. Easy to commute to NYC. 2 spacious Beds,1Bath, Kitchen & living room in each floor All Utilities are separated, Finished Basement with bathroom. 2nd Floor under renovations. Property Sold STRICTLY "AS IS", NO concessions neither credit back to buyers. Buyers responsible to obtain all the C/O & CFO with town. EMD of 20% required. Property will be delivered vacant.

17. 2025-09-08
    status Under Contract 533-char remark

    Show marketing remark (533 chars)

    Great 2 Family Property opportunity in the IRONBOUND SECTION. Close to Major Highways (Turnpike, 1&9 ), Close to the Park, schools and Shopping. Easy to commute to NYC. 2 spacious Beds,1Bath, Kitchen & living room in each floor All Utilities are separated, Finished Basement with bathroom. 2nd Floor under renovations. Property Sold STRICTLY "AS IS", NO concessions neither credit back to buyers. Buyers responsible to obtain all the C/O & CFO with town. EMD of 20% required. Property will be delivered vacant.

18. 2025-08-24
    listed $500,000 Active 533-char remark

    Show marketing remark (533 chars)

    Great 2 Family Property opportunity in the IRONBOUND SECTION. Close to Major Highways (Turnpike, 1&9 ), Close to the Park, schools and Shopping. Easy to commute to NYC. 2 spacious Beds,1Bath, Kitchen & living room in each floor All Utilities are separated, Finished Basement with bathroom. 2nd Floor under renovations. Property Sold STRICTLY "AS IS", NO concessions neither credit back to buyers. Buyers responsible to obtain all the C/O & CFO with town. EMD of 20% required. Property will be delivered vacant.

19. 2025-08-21
    historical $500,000 533-char remark

    Show marketing remark (533 chars)

    Great 2 Family Property opportunity in the IRONBOUND SECTION. Close to Major Highways (Turnpike, 1&9 ), Close to the Park, schools and Shopping. Easy to commute to NYC. 2 spacious Beds,1Bath, Kitchen & living room in each floor All Utilities are separated, Finished Basement with bathroom. 2nd Floor under renovations. Property Sold STRICTLY "AS IS", NO concessions neither credit back to buyers. Buyers responsible to obtain all the C/O & CFO with town. EMD of 20% required. Property will be delivered vacant.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,303
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$2,584
• − Management: −$2,584
• − Depreciation: −$14,545
• Taxable loss: −$25,418
• Est. tax savings @ 24.0%: +$6,100
• After-tax cash flow: $-9,845/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 · 9 photos

Fair 45/100 Moderate rehab

This two-family property requires moderate renovations to update the kitchen and bathrooms, repair the exterior siding, and paint interior walls. These updates will significantly increase its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of replacement
• Major bathroom fixtures — outdated and in poor condition
• Moderate exterior siding — visible wear and tear

Value-add opportunities

• Both update kitchen cabinets and fixtures — modernizing the kitchen will appeal to buyers and renters
• Both repair and paint exterior siding — improving the exterior will enhance curb appeal and property value
• Both update bathroom fixtures and tiling — modernizing the bathrooms will attract more buyers and renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · outdated and in poor condition	Major	$15,000–50,000
exterior siding · visible wear and tear	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$21,000–80,000

Value-add ROI direction

• Both update kitchen cabinets and fixtures — modernizing the kitchen will appeal to buyers and renters ↑
• Both repair and paint exterior siding — improving the exterior will enhance curb appeal and property value ↑
• Both update bathroom fixtures and tiling — modernizing the bathrooms will attract more 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

+0.0% since first listed

4 events — show timeline

• 2025-10-08 Relisted — GSMLS
• 2025-09-08 Pending — GSMLS
• 2025-08-24 Listed $500,000 GSMLS
• 2025-08-21 Coming Soon $500,000 GSMLS