416 Walnut St #3 · Newark, NJ 07105-2736

$850,000

9 bd · 3.9 ba · — sqft · MultiFamily · 72 Days on market

Built 1900 Fair condition 2,613 sqft lot

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Why this score? — see what drove the D 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 +13.1/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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

Exceptional investment opportunity in the Ironbound section of Newark, NJ. Spacious and versatile 9 bed / 4 full bath with a fully finished basement for recreation. This large scale property offers incredible potential for both investors or owner-occupants seeking strong rental income.

Key facts

• Ironbound section
• Strong rental income
• 2,613 sq ft lot

Tags

• IRONBOUND SECTION
• FULLY FINISHED BASEMENT
• STRONG RENTAL INCOME

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.3-bath units multifamily listed at $850k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-26 ($-309/yr) — negative. Per door: $-9/mo.
• To cash-flow at today's rent, offer at most $846k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $740k (12.9% below list).
• Recommended offer: $740k (12.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: housing D+, crime F, employment D-.
• 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.
• Zoned schools: Ann Street School (math 13% / reading 34%, grade F, #921 of 1,303 statewide, top 71%, 1,200 students, 78% FRL); East Side High School (math 17% / reading 22%, grade F, #357 of 399 statewide, top 90%, 2,255 students, 77% FRL) — zoned schools at 77% FRL track the district average.
• Market conditions: 1 active listings in the ZIP; 3,364 units permitted in Essex County in 2024 (2,551 in 5+ unit buildings).

Forward outlook

• In year one you build about $31k of equity ($6k loan paydown + $26k 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 $238k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$51k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 72 days — a 6% lower offer ($799k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• 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 $740,300 (12.9% 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 72 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
6. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 0.87% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• GRM: 9.6

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
424 Walnut St	0.02mi	8/4.0 (-1)	—	6mo	$935,000	—	76
78 Napoleon St	0.15mi	9/3.0	—	13mo	$730,000	—	66
265 Walnut St	0.38mi	9/4.0	—	9mo	$950,000	—	62
31 Read St	0.59mi	9/3.5	—	5mo	$673,350	—	54
138 New York Ave	0.44mi	9/6.0	—	8mo	$1,089,000	—	52
86 Pacific St	0.57mi	8/5.0 (-1)	—	1mo	$980,000	—	51
108 Elm St	0.62mi	9/4.0	—	10mo	$910,000	—	50
22 Saint Francis St	0.55mi	8/6.0 (-1)	—	7mo	$1,175,000	—	43
102 Saint Saint Francis St	0.60mi	8/5.0 (-1)	—	13mo	$1,225,000	—	40
698 Market St	0.58mi	8/5.0 (-1)	—	14mo	$910,000	—	39
76-78 Clifford St	0.54mi	9/6.0	—	18mo	$1,130,000	—	38
33-39 Downing St	0.42mi	8/9.0 (-1)	—	16mo	$1,400,000	—	34

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

Projected returns pro-forma

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

5-year hold

• IRR: 7.4%
• Equity multiple: 1.42×
• Total profit: $100,864
• Equity at exit: $382,197

10-year hold

• IRR: 10.1%
• Equity multiple: 2.52×
• Total profit: $361,655
• Equity at exit: $589,011

Cash invested: $238,000 (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 07105-2736

• Active inventory: 1
• Price-to-rent: 28.7×

Monthly cashflow live

• Estimated rent: $7,403 high
• Mortgage (P&I): −$4,457
• Tax est. 1.5%: −$1,062 /mo · $12,750/yr
• Insurance: −$354
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,555
• Net cashflow: $-26

Break-even live

Break-even rent $7,436

Max offer price $846,268

Occupancy floor 95%

Sensitivity live

Price	-10% $562	-5% $268	+0% $-26	+5% $-319	+10% $-613
Rent	-10% $-611	-5% $-318	+0% $-26	+5% $267	+10% $559
Rate	-1.0pp $402	-0.5pp $190	base $-26	+0.5pp $-246	+1.0pp $-470

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1.3	$7,404
Total (3 units)			$7,403

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: $212,500
• Closing costs: $25,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $850,000 Active 72 DOM
2. 2026-06-18
   days on market $850,000 Active 69 DOM
3. 2026-06-17
   days on market $850,000 Active 68 DOM
4. 2026-06-16
   days on market $850,000 Active 67 DOM
5. 2026-06-15
   days on market $850,000 Active 66 DOM
6. 2026-06-13
   days on market $850,000 Active 64 DOM
7. 2026-06-13
   days on market $850,000 Active 63 DOM
8. 2026-06-09
   days on market $850,000 Active 60 DOM
9. 2026-06-08
   days on market $850,000 Active 59 DOM
10. 2026-06-07
    days on market $850,000 Active 58 DOM
11. 2026-06-04
    days on market $850,000 Active 55 DOM
12. 2026-06-03
    days on market $850,000 Active 54 DOM
13. 2026-06-02
    days on market $850,000 Active 53 DOM
14. 2026-06-01
    days on market $850,000 Active 52 DOM
15. 2026-05-31
    days on market $850,000 Active 51 DOM
16. 2026-04-09
    listed $850,000 Active 286-char remark

    Show marketing remark (286 chars)

    Exceptional investment opportunity in the Ironbound section of Newark, NJ. Spacious and versatile 9 bed / 4 full bath with a fully finished basement for recreation. This large scale property offers incredible potential for both investors or owner-occupants seeking strong rental income.

ⓘ 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 4/10 Moderate FEMA zone X (shaded) · 22% 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: $88,836
• − Mortgage interest: −$47,613
• − Property taxes: −$12,750
• − Insurance: −$4,250
• − Repairs & maintenance: −$7,107
• − Management: −$7,107
• − Depreciation: −$24,727
• Taxable loss: −$14,718
• Est. tax savings @ 24.0%: +$3,532
• After-tax cash flow: $3,223/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

Fair 45/100 Moderate rehab

This multi-family property presents as a moderate rehab opportunity with average condition. Repairs and maintenance are needed to bring it up to a fair condition, with potential for significant value increase through cosmetic updates.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — slight wear
• Moderate exterior siding — visible wear

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both replace kitchen cabinets — modernizes the space and increases functionality
• Both repair exterior siding — improves curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · slight wear	Minor	$500–3,000
exterior siding · visible wear	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace kitchen cabinets — modernizes the space and increases functionality ↑
• Both repair exterior siding — improves curb appeal and structural integrity ↑

ⓘ 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

• 2026-04-09 Listed $850,000 GSMLS