48 Cedar Ave · Newark, NJ 07106-1217

$749,999

9 bd · 3.6 ba · — sqft · MultiFamily · 41 Days on market

Built 1930 Good condition 3,920 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 +12.3/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Condition / age +4.0/5.0
• DSCR +3.7/10.0
• 1% rule +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• 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

48 Cedar Ave is a well-maintained 3-family property offering strong rental potential and immediate cash flow. The 1st floor features 3 bedrooms, 1 bath, currently rented at $2,150/month. The 2nd floor unit includes 3 bedrooms, 1 bath, with access to the basement and garage, generating $2,798/month. The 3rd floor offers a 2-bedroom, 1 bath unit, currently vacant, but perfect for an owner-occupant or to lease for additional income (projected at $1,750/month). Ideally located just off South Orange Ave, this property provides convenient access to major highways, public transportation, shopping, and schools. Whether you're an investor looking to expand your portfolio or a buyer seeking to offset

Key facts

• Access to basement
• Shopping
• Schools

Tags

• ACCESS TO BASEMENT
• PUBLIC TRANSPORTATION
• SHOPPING
• SCHOOLS

Property features AI

Finance

• Financial info: 3 total units; Reported net operating income, gross income, and total operating expenses listed as $0

Exterior

• Parking: One detached garage (1 garage space); One additional parking space; Driveway with 1-car width
• Utilities: Public water; Public sewer; Electric service available; Natural gas available
• Home design: Three-story multi-unit building
• Construction: Year built listed as approximate
• Exterior features: Wood siding; Asphalt shingle roof

Interior

• Kitchen: Gas range/oven in each unit
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms; Unit 3: 2 bedrooms
• Bathrooms: Three full bathrooms and one half bathroom total; Unit 1: 1 bathroom; Unit 2: 1 bathroom; Unit 3: 1 bathroom
• Heating & cooling: Three heating units (natural gas); Window air conditioning units
• Interior features: Finished full basement; Carbon monoxide detectors; Fire alarm systems in each unit
• Laundry & utility: Utilities include electric and natural gas

What this means for you Summary

Snapshot

• This is a 2×3bd/1ba + 1×2bd/1ba units multifamily listed at $750k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-137 ($-2k/yr) — negative. Per door: $-46/mo.
• To cash-flow at today's rent, offer at most $730k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $639k (14.8% below list).
• Recommended offer: $639k (14.8% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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 $28k of equity ($5k loan paydown + $22k 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 ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($727k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1930 — 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 $638,700 (14.8% 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 41 days. Have you received any prior offers? Is the seller open to a 15% 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. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
10. 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.
11. 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.
12. 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: 0.85% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.78%
• DSCR: 0.97
• GRM: 9.8

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
29 Cedar Ave	0.05mi	10/3.0 (+1)	—	1mo	$700,000	—	77
16 Alexander St	0.28mi	8/3.0 (-1)	—	0mo	$560,000	—	67
132 S Munn Ave	0.40mi	9/4.0	—	4mo	$450,000	—	64
76-78 Halstead St	0.49mi	9/3.0	—	1mo	$810,000	—	61
552 Norwood St	0.45mi	8/3.0 (-1)	—	0mo	$550,000	—	59
20 Stuyvesant Ave	0.52mi	9/3.0	—	4mo	$650,000	—	58
487 S 20th St	0.61mi	8/3.0 (-1)	—	4mo	$750,000	—	48
163-165 Brookdale Ave	0.67mi	10/4.0 (+1)	—	2mo	$570,000	—	48
275 Rhode Island Ave	0.63mi	8/3.0 (-1)	—	5mo	$812,000	—	47
232-236 West End Ave	0.72mi	8/3.0 (-1)	—	1mo	$540,000	—	46
443 Norwood St	0.46mi	8/8.0 (-1)	—	4mo	$840,000	—	43
413 S 16th St	0.75mi	8/6.0 (-1)	—	2mo	$750,000	—	36

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: 6.8%
• Equity multiple: 1.39×
• Total profit: $81,697
• Equity at exit: $337,232

10-year hold

• IRR: 9.6%
• Equity multiple: 2.44×
• Total profit: $303,343
• Equity at exit: $519,715

Cash invested: $210,000 (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 07106-1217

• Active inventory: 1
• Price-to-rent: 28.6×

Monthly cashflow live

• Estimated rent: $6,387 high
• Mortgage (P&I): −$3,933
• Tax est. 1.5%: −$937 /mo · $11,250/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,341
• Net cashflow: $-137

Break-even live

Break-even rent $6,561

Max offer price $730,125

Occupancy floor 97%

Sensitivity live

Price	-10% $381	-5% $122	+0% $-137	+5% $-396	+10% $-656
Rent	-10% $-642	-5% $-390	+0% $-137	+5% $115	+10% $367
Rate	-1.0pp $240	-0.5pp $53	base $-137	+0.5pp $-332	+1.0pp $-529

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,372
1× unit	2	1	$2,014
Total (3 units)			$6,387

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: $187,500
• Closing costs: $22,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $749,999 Active 41 DOM
2. 2026-06-18
   days on market $749,999 Active 38 DOM
3. 2026-06-17
   days on market $749,999 Active 37 DOM
4. 2026-06-16
   days on market $749,999 Active 36 DOM
5. 2026-06-15
   days on market $749,999 Active 35 DOM
6. 2026-06-13
   days on market $749,999 Active 33 DOM
7. 2026-06-13
   days on market $749,999 Active 32 DOM
8. 2026-06-09
   days on market $749,999 Active 29 DOM
9. 2026-06-08
   days on market $749,999 Active 28 DOM
10. 2026-06-07
    days on market $749,999 Active 27 DOM
11. 2026-06-04
    days on market $749,999 Active 24 DOM
12. 2026-06-03
    days on market $749,999 Active 23 DOM
13. 2026-06-02
    days on market $749,999 Active 22 DOM
14. 2026-06-01
    days on market $749,999 Active 21 DOM
15. 2026-05-31
    days on market $749,999 Active 20 DOM
16. 2026-05-11
    listed $749,999 Active 793-char remark

ⓘ 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 (unshaded) · 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: $76,644
• − Mortgage interest: −$42,012
• − Property taxes: −$11,250
• − Insurance: −$3,750
• − Repairs & maintenance: −$6,132
• − Management: −$6,132
• − Depreciation: −$21,818
• Taxable loss: −$14,449
• Est. tax savings @ 24.0%: +$3,468
• After-tax cash flow: $1,820/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

Good 80/100 Cosmetic rehab

This 3-family property is in excellent condition with minimal repairs needed. It offers strong rental potential and immediate cash flow.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Reorganizing and decluttering interior spaces — Improves flow and makes the property more appealing
• Both Upgrading light fixtures — Modernizes the property and improves energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Reorganizing and decluttering interior spaces — Improves flow and makes the property more appealing ↑
• Both Upgrading light fixtures — Modernizes the property and improves energy efficiency ↑

ⓘ 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

• 2026-05-11 Listed $749,999 GSMLS