324A 14th Ave · Newark, NJ 07103

$599,900

6 bd · 2.0 ba · — sqft · MultiFamily · 31 Days on market

Good condition 1,498 sqft lot

---

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 +11.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.1/10.0
• Condition / age +3.8/5.0
• Livability +3.4/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• 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: 2 units. confirmed

Listing remarks

Spacious 2-family property featuring 6 bedrooms and 2 full baths, updated plumbing, and a separate basement entrance with additional potential. Ideal for owner-occupants or investors seeking strong rental income opportunities. Conveniently located near major transportation, schools, and local amenities. Will be delivered vacant!

Key facts

• Updated plumbing
• 1,498 sq ft lot
• Listed 30 days

Tags

• UPDATED PLUMBING
• SEPARATE BASEMENT ENTRANCE

Property features AI

Exterior

• Utilities: Natural gas available and connected; Electricity connected; Water connected
• Home design: Residential income property; Multi-family

Interior

• Bathrooms: 2 full bathrooms
• Interior features: 10 total rooms
• Laundry & utility: No laundry in unit (None listed)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $600k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-249 ($-3k/yr) — negative. Per door: $-124/mo.
• To cash-flow at today's rent, offer at most $564k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $493k (17.8% below list).
• Recommended offer: $493k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 3,364 units permitted in Essex County in 2024 (2,551 in 5+ unit buildings).
• At $4,933/mo this rent would consume 115% 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 $17k of equity ($4k loan paydown + $13k appreciation (2.2% local appreciation)).
• Essex County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($582k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago 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.
• Current owner paid $230k; list at $600k implies a 161% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $493,300 (17.8% 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 31 days. Have you received any prior offers? Is the seller open to a 18% 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. 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: 0.82% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• GRM: 10.1

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
486 19th St	0.11mi	6/4.5	—	1mo	$820,000	—	71
484 19th St	0.11mi	6/5.0	—	1mo	$820,000	—	69
624 19th St	0.42mi	6/3.0	—	1mo	$650,000	—	64
524 S 15th St	0.23mi	7/5.5 (+1)	—	1mo	$999,999	—	57
522 S 15th St	0.22mi	7/5.5 (+1)	—	2mo	$970,000	—	56
50 Blum St	0.51mi	5/2.0 (-1)	—	4mo	$240,000	—	56
78 Devine St	0.46mi	7/5.0 (+1)	—	0mo	$655,000	—	49
225 9th St	0.53mi	7/4.0 (+1)	—	3mo	$865,000	—	48
719 18th Ave	0.63mi	5/3.0 (-1)	—	3mo	$425,000	—	46
721 S 19th St	0.68mi	6/5.0	—	0mo	$765,000	—	44
152 10th St	0.75mi	7/3.0 (+1)	—	1mo	$547,000	—	43
29 Kent St	0.72mi	7/5.0 (+1)	—	3mo	$850,000	—	34

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: 2.0%
• Equity multiple: 1.11×
• Total profit: $17,925
• Equity at exit: $242,335

10-year hold

• IRR: 4.6%
• Equity multiple: 1.62×
• Total profit: $103,958
• Equity at exit: $353,413

Cash invested: $167,972 (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: 20.3×

Monthly cashflow live

• Estimated rent: $4,933 high
• Mortgage (P&I): −$3,146
• Tax est. 1.5%: −$750 /mo · $8,998/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,036
• Net cashflow: $-249

Break-even live

Break-even rent $5,248

Max offer price $563,912

Occupancy floor —

Sensitivity live

Price	-10% $166	-5% $-41	+0% $-249	+5% $-456	+10% $-663
Rent	-10% $-638	-5% $-444	+0% $-249	+5% $-54	+10% $141
Rate	-1.0pp $53	-0.5pp $-96	base $-249	+0.5pp $-404	+1.0pp $-562

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$4,934
Total (2 units)			$4,933

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: $149,975
• Closing costs: $17,997
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
294 S 7th St Unit 2 Newark, NJ	5.0	2.0	—	$2,050	—	21d	1	0.47mi
21 Chelsea Ave Newark, NJ	5.0	1.5	1500	$3,000	$2.00	14d	1	0.74mi
142 Steuben St East Orange, NJ	5.0	2.0	—	$4,575	—	0d	1	0.86mi
44 Farley Ave Unit 2 Newark, NJ	5.0	2.0	—	$3,700	—	25d	1	1.12mi
12 Bruen Ave Irvington, NJ	6.0	3.0	—	$4,600	—	0d	1	1.23mi
808 Clinton Ave Unit G Newark, NJ	5.0	2.0	1200	$2,950	$2.46	21d	1	1.24mi
808 Clinton Ave Unit G Newark, NJ	5.0	2.0	—	$2,950	—	22d	1	1.24mi
808 Clinton Ave Unit G Newark, NJ	5.0	2.0	—	$2,949	—	20d	1	1.24mi
46 Eppirt St East Orange, NJ	7.0	3.0	—	$6,450	—	0d	1	1.26mi
22 Rockland Ter Newark, NJ	5.0	3.0	1440	$4,495	$3.12	0d	1	1.27mi
100 Smith St Unit 2 Newark, NJ	5.0	1.5	—	$2,595	—	18d	1	1.32mi
263 Amherst St East Orange, NJ	5.0	1.0	—	$2,800	—	21d	1	1.40mi
107 Palm St Newark, NJ	5.0	2.0	—	$3,495	—	25d	1	1.40mi
108 N Oraton Pkwy Fl 1 East Orange, NJ	5.0	3.0	3289	$4,500	$1.37	2d	1	1.50mi

Listing history 28 events

1. 2026-06-18
   days on market $599,900 Active 31 DOM
2. 2026-06-17
   days on market $599,900 Active 30 DOM
3. 2026-06-16
   days on market $599,900 Active 29 DOM
4. 2026-06-15
   days on market $599,900 Active 28 DOM
5. 2026-06-13
   days on market $599,900 Active 26 DOM
6. 2026-06-13
   days on market $599,900 Active 25 DOM
7. 2026-06-09
   days on market $599,900 Active 22 DOM
8. 2026-06-08
   days on market $599,900 Active 21 DOM
9. 2026-06-07
   days on market $599,900 Active 20 DOM
10. 2026-06-04
    days on market $599,900 Active 17 DOM
11. 2026-06-03
    days on market $599,900 Active 16 DOM
12. 2026-06-02
    days on market $599,900 Active 15 DOM
13. 2026-06-01
    days on market $599,900 Active 14 DOM
14. 2026-05-31
    days on market $599,900 Active 13 DOM
15. 2026-03-14
    price $550,000 330-char remark
16. 2026-02-21
    listed $599,900 Active 330-char remark
17. 2026-02-21
    listed $599,900 Active 330-char remark
18. 2024-05-08
    historical
19. 2024-04-24
    historical Under Contract
20. 2024-02-26
    status Active
21. 2024-02-22
    historical
22. 2024-02-21
    listed $549,999 Active
23. 2024-02-21
    historical
24. 2024-02-07
    listed $575,000 Active
25. 2023-09-11
    soldstatus $230,000 Sold
26. 2023-08-16
    historical
27. 2023-08-15
    status Under Contract
28. 2023-07-13
    listed $239,999 Active

ⓘ 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 ≥100°F today · 14 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: $59,196
• − Mortgage interest: −$33,604
• − Property taxes: −$8,998
• − Insurance: −$3,000
• − Repairs & maintenance: −$4,736
• − Management: −$4,736
• − Depreciation: −$17,452
• Taxable loss: −$13,329
• Est. tax savings @ 24.0%: +$3,199
• After-tax cash flow: $214/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 · 1 photo

Good 75/100 Cosmetic rehab

This 2-family property is in good condition with fresh paint and carpet, ideal for owner-occupants or investors seeking strong rental income opportunities.

Value-add opportunities

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics
• Both Deep cleaning — A thorough cleaning can make the property more appealing to potential buyers/tenants
• Both Landscaping — Landscaping can significantly improve curb appeal and attract more interest

Renovation cost estimate screening

Value-add ROI direction

• Both Paint touch-ups — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Deep cleaning — A thorough cleaning can make the property more appealing to potential buyers/tenants ↑
• Both Landscaping — Landscaping can significantly improve curb appeal and attract more interest ↑

ⓘ 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

+150.0% since first listed

12 events — show timeline

• 2026-02-21 Listed $599,900 NJMLS
• 2024-05-08 Delisted — NJMLS
• 2024-04-24 Contingent — NJMLS
• 2024-02-26 Relisted — NJMLS
• 2024-02-22 Delisted — NJMLS
• 2024-02-21 Listed $549,999 NJMLS
• 2024-02-21 Delisted — NJMLS
• 2024-02-07 Listed $575,000 NJMLS
• 2023-09-11 Sold (MLS) $230,000 GSMLS
• 2023-08-16 Delisted — GSMLS
• 2023-08-15 Pending — GSMLS
• 2023-07-13 Listed $239,999 GSMLS