555 10th St · Newark, NJ 07103

$650,000

9 bd · 3.9 ba · — sqft · MultiFamily · 15 Days on market

Good condition 4,761 sqft lot ↓ 2% since listing

---

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 +23.8/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Appreciation +6.1/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• Rent growth +2.6/5.0
• Schools +1.4/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Welcome to this 2-family home, offering exceptional space and incredible versatility. Each legal unit features 4 spacious bedrooms and 1 bathroom, providing a living washer and dryer in the first unit. The finished attic adds tremendous value with 2 additional bedrooms, a full bathroom, and a kitchenette. The full finished basement expands the possibilities even further with 3 bedrooms, 1 bathroom, and a second kitchenette. Enjoy the convenience of a 2-car garage, additional driveway parking, and a small backyard for outdoor gatherings.Property sold as-is, Purchaser responsible for CO.

Key facts

• 4,761 sq ft lot
• Listed 15 days

Property features AI

Finance

• Financial info: Annual property tax listed as $5,586

Exterior

• Utilities: Utilities — see remarks
• Home design: Residential income property; Multi-family

Interior

• Bathrooms: 4 full bathrooms
• Interior features: Total of 16 rooms
• Laundry & utility: No laundry hookups on record

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/?-bath units multifamily listed at $650k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $417/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $650k).
• Recommended offer: $640k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: Rents flat; 61 active listings in the ZIP; 3,364 units permitted in Essex County in 2024 (2,551 in 5+ unit buildings).
• At $7,268/mo this rent would consume 169% of the median local household income ($52k/yr) (locally 2963% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $19k of equity ($4k loan paydown + $14k appreciation (2.2% local appreciation)).
• Essex County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (2.2% appreciation + 0.3% rent growth), your $182k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($640k) 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

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $640,250 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.12% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.24%
• DSCR: 1.37
• GRM: 7.5

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 15th Ave	0.32mi	9/5.0	—	1mo	$1,075,000	—	67
10 Treacy Ave	0.48mi	9/4.5	—	2mo	$630,000	—	61
53 Rose Ter	0.45mi	8/3.0 (-1)	—	1mo	$649,000	—	57
59 Rose Ter	0.45mi	8/3.0 (-1)	—	1mo	$737,000	—	57
367 Morris Ave	0.53mi	9/3.0	—	5mo	$585,000	—	55
510 17th St	0.43mi	8/6.0 (-1)	—	1mo	$923,650	—	53
327 S Orange Ave	0.52mi	8/3.0 (-1)	—	3mo	$665,000	—	52
787 S 17th St	0.57mi	9/6.0	—	3mo	$815,000	—	50
811 S 13th St S	0.61mi	8/4.0 (-1)	2,826	5mo	$830,000	$294	50
487 S 20th St	0.61mi	8/3.0 (-1)	—	4mo	$750,000	—	47
822 19th St	0.68mi	8/5.0 (-1)	—	2mo	$780,000	—	45
413 S 16th St	0.61mi	8/6.0 (-1)	—	2mo	$750,000	—	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.18% appreciation · 0.35% rent growth · sell at horizon

5-year hold

• IRR: 11.4%
• Equity multiple: 1.61×
• Total profit: $111,214
• Equity at exit: $262,574

10-year hold

• IRR: 12.7%
• Equity multiple: 2.64×
• Total profit: $297,841
• Equity at exit: $382,928

Cash invested: $182,000 (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 07103

• Home prices YoY: 0.7%
• Rents YoY: 0.3%
• Active inventory: 61
• Price-to-rent: 22.4×

Monthly cashflow live

• Estimated rent: $7,268 high
• Mortgage (P&I): −$3,409
• Tax est. 1.5%: −$812 /mo · $9,750/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,526
• Net cashflow: $1,250

Break-even live

Break-even rent $5,686

Max offer price $650,000

Occupancy floor 78%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	3	—	$7,269
Total (3 units)			$7,268

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: $162,500
• Closing costs: $19,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $650,000 Active 15 DOM
2. 2026-06-17
   days on market $650,000 Active 14 DOM
3. 2026-06-16
   days on market $650,000 Active 13 DOM
4. 2026-06-15
   days on market $650,000 Active 12 DOM
5. 2026-06-13
   days on market $650,000 Active 10 DOM
6. 2026-06-13
   days on market $650,000 Active 9 DOM
7. 2026-06-09
   days on market $650,000 Active 6 DOM
8. 2026-06-08
   days on market $650,000 Active 5 DOM

   Show marketing remark (592 chars)

   Welcome to this 2-family home, offering exceptional space and incredible versatility. Each legal unit features 4 spacious bedrooms and 1 bathroom, providing a living washer and dryer in the first unit. The finished attic adds tremendous value with 2 additional bedrooms, a full bathroom, and a kitchenette. The full finished basement expands the possibilities even further with 3 bedrooms, 1 bathroom, and a second kitchenette. Enjoy the convenience of a 2-car garage, additional driveway parking, and a small backyard for outdoor gatherings.Property sold as-is, Purchaser responsible for CO.

9. 2026-06-07
   days on market $650,000 Active 4 DOM
10. 2026-06-04
    days on marketlisting id $650,000 Active 1 DOM
11. 2026-06-03
    days on market $650,000 Active 43 DOM
12. 2026-06-02
    pricedays on market $650,000 Active 42 DOM

    Show marketing remark (592 chars)

    Welcome to this 2-family home, offering exceptional space and incredible versatility. Each legal unit features 4 spacious bedrooms and 1 bathroom, providing a living washer and dryer in the first unit. The finished attic adds tremendous value with 2 additional bedrooms, a full bathroom, and a kitchenette. The full finished basement expands the possibilities even further with 3 bedrooms, 1 bathroom, and a second kitchenette. Enjoy the convenience of a 2-car garage, additional driveway parking, and a small backyard for outdoor gatherings.Property sold as-is, Purchaser responsible for CO.

13. 2026-06-01
    days on market $665,000 Active 41 DOM
14. 2026-05-31
    days on market $665,000 Active 40 DOM
15. 2026-04-21
    listed $665,000 Active 592-char remark

    Show marketing remark (592 chars)

    Welcome to this 2-family home, offering exceptional space and incredible versatility. Each legal unit features 4 spacious bedrooms and 1 bathroom, providing a living washer and dryer in the first unit. The finished attic adds tremendous value with 2 additional bedrooms, a full bathroom, and a kitchenette. The full finished basement expands the possibilities even further with 3 bedrooms, 1 bathroom, and a second kitchenette. Enjoy the convenience of a 2-car garage, additional driveway parking, and a small backyard for outdoor gatherings.Property sold as-is, Purchaser responsible for CO.

ⓘ 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 6 d/yr ≥100°F today · 13 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: $87,216
• − Mortgage interest: −$36,410
• − Property taxes: −$9,750
• − Insurance: −$3,250
• − Repairs & maintenance: −$6,977
• − Management: −$6,977
• − Depreciation: −$18,909
• Taxable income: $4,942
• Est. tax owed @ 24.0%: −$1,186
• After-tax cash flow: $13,810/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

Good 75/100 Cosmetic rehab

This 2-family home is in good condition with cosmetic updates needed to enhance its curb appeal and resale value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace windows — Improves energy efficiency and resale value
• Both Update kitchen cabinets — Modernizes the space and increases resale value
• Both Update bathrooms — Modernizes the space and increases resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace windows — Improves energy efficiency and resale value ↑
• Both Update kitchen cabinets — Modernizes the space and increases resale value ↑
• Both Update bathrooms — Modernizes the space and increases resale value ↑

ⓘ 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
• County: Essex County · 825,405 people
• City population: 310,602
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 37,293
• Household income: $51,534
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 2963.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (71%)
• Race & ethnicity: Black 71% Hispanic / Latino 18% Two or more races 10% White 4% Asian 4%
• Hispanic origin (detail): Puerto Rican 7% Dominican 7%
• Common ancestry: Hispanic 2%
• Foreign-born: 23% · Canada, South Korea, United Kingdom
• Languages at home: 71% English-only · Spanish 14% French/Haitian/Cajun 4% Other Indo-European 2%

Political lean MEDSL · Essex

• 2024 margin: Solid D (+44.9) · D 71.7% · R 26.8% · Other 1.5%
• 2008→2024 swing: -7.7pp toward R · 2008: 52.6pp · 2024: 44.9pp
• All cycles: 2024: D+44.9 2020: D+55.4 2016: D+56.4 2012: D+55.5 2008: D+52.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.18%
• Current HPI: 301.5896
• Rent YoY: ▲ 0.35%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• 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

-2.3% since first listed

4 events — show timeline

• 2026-06-08 Pending — GSMLS
• 2026-06-03 Listed $650,000 NJMLS
• 2026-06-02 Price Changed $650,000 GSMLS
• 2026-04-21 Listed $665,000 GSMLS