113 Delavan Ave #2 · Newark, NJ 07104-3016

$2,700

4 bd · 2.0 ba · 1,117 sqft · Condo · 110 Days on market

Built 1908

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

Listing remarks MLS

Welcome to 113 Delavan Ave Unit #2, Newark, NJ, a well-located apartment offering comfort, convenience, and city living at its best. This bright and spacious unit features a functional layout with generous living space, natural light throughout, and a welcoming atmosphere perfect for everyday living. The apartment includes a comfortable living area, a well-sized kitchen, and ample room for relaxation and entertaining. Conveniently located near public transportation, major highways, shopping, dining, and local schools, this home provides easy access to downtown Newark and a quick commute to NYC. A great opportunity for anyone looking for an affordable and accessible place to call home in Newark. Schedule your showing today! INTERIOR

Key facts

• 2,178 sq ft lot
• Built 1908
• Listed 109 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $3k.

Deal economics

• At list price, monthly cash flow is $2k ($26k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $3k).
• Recommended offer: $2k (9.0% below list) — sets the bar for market timing.
• Cap rate 954.3% 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: 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; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $100 of equity ($19 loan paydown + $81 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 $756 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($2k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1908 — 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 $2,457 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 100.88% ✓
• Cap rate: 954.35%
• Cash-on-cash: 3385.92%
• DSCR: 151.65
• GRM: 0.1

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: —
• Equity multiple: 181.19×
• Total profit: $136,226
• Equity at exit: $1,214

10-year hold

• IRR: —
• Equity multiple: 390.69×
• Total profit: $294,607
• Equity at exit: $1,871

Cash invested: $756 (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 07104-3016

• Active inventory: 1
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $2,724 high
• Mortgage (P&I): −$14
• Tax est. 1.5%: −$3 /mo · $40/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$572
• Net cashflow: $2,133

Break-even live

Break-even rent $24

Max offer price $2,700

Occupancy floor 17%

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: $675
• Closing costs: $81
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
583 Mount Prospect Ave Newark, NJ	1.0–3.0	1.0	1125	$2,395	$2.13	24d	5	0.24mi
206 Highland Ave Unit 1 Kearny, NJ	3.0	1.0	1000	$3,400	$3.40	7d	1	0.83mi
101 4th Ave Newark, NJ	4.0	2.0	1375	$2,900	$2.11	24d	1	0.98mi
479 N 6th St Newark, NJ	3.0	2.0	1000	$2,800	$2.80	24d	1	1.12mi
69 Lake St Unit 2 Belleville, NJ	4.0	1.0	1152	$2,900	$2.52	25d	1	1.12mi
69 Lake St Unit 2nd Floor Belleville, NJ	4.0	1.0	1152	$2,900	$2.52	21d	1	1.12mi
491 N 11th St Unit 2 Newark, NJ	3.0	2.0	1400	$2,500	$1.79	12d	1	1.18mi
53 Devon Ter Unit 2 Kearny, NJ	3.0	1.0	1200	$2,300	$1.92	13d	1	1.21mi
74 Webster St Unit 4D Newark, NJ	3.0	3.0	1162	$3,400	$2.93	24d	1	1.34mi
6 Ralph St Unit 1A Belleville, NJ	3.0	3.0	1380	$2,900	$2.10	3d	1	1.47mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-18
   days on market $2,700 Active 110 DOM
2. 2026-06-17
   days on market $2,700 Active 109 DOM
3. 2026-06-16
   days on market $2,700 Active 108 DOM
4. 2026-06-15
   days on market $2,700 Active 107 DOM
5. 2026-06-13
   days on market $2,700 Active 105 DOM
6. 2026-06-13
   days on market $2,700 Active 104 DOM
7. 2026-06-09
   days on market $2,700 Active 101 DOM
8. 2026-06-08
   days on market $2,700 Active 100 DOM
9. 2026-06-07
   days on market $2,700 Active 99 DOM
10. 2026-06-04
    days on market $2,700 Active 96 DOM
11. 2026-06-03
    days on market $2,700 Active 95 DOM
12. 2026-06-02
    days on market $2,700 Active 94 DOM
13. 2026-06-01
    days on market $2,700 Active 93 DOM
14. 2026-05-31
    days on market $2,700 Active 92 DOM
15. 2026-02-28
    listed $2,700 Active 741-char remark

    Show marketing remark (741 chars)

    Welcome to 113 Delavan Ave Unit #2, Newark, NJ, a well-located apartment offering comfort, convenience, and city living at its best. This bright and spacious unit features a functional layout with generous living space, natural light throughout, and a welcoming atmosphere perfect for everyday living. The apartment includes a comfortable living area, a well-sized kitchen, and ample room for relaxation and entertaining. Conveniently located near public transportation, major highways, shopping, dining, and local schools, this home provides easy access to downtown Newark and a quick commute to NYC. A great opportunity for anyone looking for an affordable and accessible place to call home in Newark. Schedule your showing today! INTERIOR

ⓘ 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 ≥99°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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,685
• − Mortgage interest: −$151
• − Property taxes: −$40
• − Insurance: −$14
• − Repairs & maintenance: −$2,615
• − Management: −$2,615
• − Depreciation: −$79
• Taxable income: $27,172
• Est. tax owed @ 24.0%: −$6,521
• After-tax cash flow: $19,076/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.

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

• 2026-02-28 Listed $2,700 GSMLS