66-68 Newton Pl #18 · Newark, NJ 07111-1408

$60,000

3 bd · 2.5 ba · 2,328 sqft · Townhouse · 1 Days on market

Built 2007 Poor condition 0.79 ac 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 +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
• Schools +1.1/10.0
• Condition / age +1.0/5.0

Listing remarks

Property is currently in foreclosure and must be purchased through a Quitclaim Deed. Property is sold strictly AS-IS, with closing required within two (2) weeks. Buyer responsible for all due diligence. Three additional units available: 15,16,17. Units may be sold individually or as a package.

Key facts

• Garage
• Built 2007

Property features AI

Exterior

• Parking: Two parking spaces total; One built-in garage (1-car width driveway)
• Utilities: Natural gas service; Public sewer; Public water
• Home design: Interior townhouse, multi-floor unit; Entry on first floor; Approximate year built (approximate)
• Construction: Aluminum siding; Brick; Vinyl siding; Asphalt shingle roof
• Exterior features: Privacy fence; Storm windows; Level lot

Interior

• Kitchen: Gas range/oven; Dishwasher; First-floor kitchen (not an eat-in kitchen)
• Bedrooms: Three bedrooms located on the second level
• Bathrooms: Two full bathrooms; One half bathroom
• Interior features: Dishwasher; Range/Oven (Gas); Unfinished basement; Storm windows; Privacy fence
• Laundry & utility: Utility room on ground level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $60k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $60k).
• Cap rate 41.7% 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.
• Irvington Public School District (suburban): math 4% / reading 23% proficiency, ranked #465 of 472 in NJ (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 4 active listings in the ZIP; 12 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 $2k of equity ($415 loan paydown + $2k 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 $17k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $60,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 4.61% ✓
• Cap rate: 41.74%
• Cash-on-cash: 126.58%
• DSCR: 6.63
• GRM: 1.8

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: 8.15×
• Total profit: $120,137
• Equity at exit: $26,979

10-year hold

• IRR: —
• Equity multiple: 17.05×
• Total profit: $269,564
• Equity at exit: $41,577

Cash invested: $16,800 (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 07111-1408

• Active inventory: 4
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $2,768 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $1,772

Break-even live

Break-even rent $525

Max offer price $60,000

Occupancy floor 31%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
217 Orange Ave Irvington, NJ	2.0	1.0	2740	$2,200	$0.80	24d	1	0.38mi
161 Franklin Ter Maplewood, NJ	3.0	2.0	1700	$3,500	$2.06	24d	1	0.47mi
19 Chapman Pl Irvington, NJ	3.0	2.0	2500	$2,500	$1.00	24d	1	0.52mi
13 Garwood Pl Unit 1 Irvington, NJ	2.0	1.0	2856	$2,100	$0.74	24d	1	0.56mi
13 Garwood Pl Unit 2 Irvington, NJ	3.0	1.5	1900	$2,650	$1.39	24d	1	0.56mi
285 Columbia Ave #2 Irvington, NJ	4.0	1.0	1600	$2,350	$1.47	15d	1	0.69mi
307 Irvington Ave Unit 2B South Orange Village, NJ	3.0	3.5	2000	$3,300	$1.65	43d	1	1.08mi
100 Smith St Unit 2B Newark, NJ	4.0	2.0	2000	$2,495	$1.25	22d	1	1.19mi
227 21st St Irvington, NJ	3.0	2.0	2404	$2,800	$1.16	24d	1	1.22mi
82 Park PL #2	4.0	2.0	1973	$4,800	$2.43	44d	1	1.24mi
255 Tuscan Rd Maplewood, NJ	1.0–2.0	1.0–2.5	1711	$3,650	$2.13	43d	1	1.28mi
240 Leslie St Unit 2nd Floor Newark, NJ	4.0	1.0	1700	$2,800	$1.65	24d	1	1.47mi

Listing history 2 events

1. 2026-06-17
   remarks 294-char remark
2. 2026-06-17
   listed $60,000 Active 1 DOM

ⓘ 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 ≥101°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: $33,217
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$2,657
• − Management: −$2,657
• − Depreciation: −$1,745
• Taxable income: $21,596
• Est. tax owed @ 24.0%: −$5,183
• After-tax cash flow: $16,082/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

Poor 20/100 Extensive rehab

This property requires extensive repairs and maintenance, including landscaping, exterior painting, HVAC and window replacement, and structural repairs. Significant investment is needed to bring it up to a livable condition.

Repairs flagged

• Major landscaping — Overgrown vegetation needs trimming and planting
• Major exterior painting — Peeling paint suggests a need for repainting
• Major roof inspection — Aged roof may need replacement or repair
• Major foundation inspection — Structural issues may require foundation repair
• Major HVAC inspection — Old or non-functional systems may need replacement
• Major windows — Old or damaged windows may need replacement

Value-add opportunities

• Both Landscaping and exterior painting — Enhances curb appeal and property value
• Both HVAC and window replacement — Improves comfort and energy efficiency
• Both Roof and foundation repair — Ensures structural integrity and safety

Renovation cost estimate screening

Repair item	Severity	Est. cost
landscaping · Overgrown vegetation needs trimming and planting	Major	$15,000–50,000
exterior painting · Peeling paint suggests a need for repainting	Major	$15,000–50,000
roof inspection · Aged roof may need replacement or repair	Major	$15,000–50,000
foundation inspection · Structural issues may require foundation repair	Major	$15,000–50,000
HVAC inspection · Old or non-functional systems may need replacement	Major	$15,000–50,000
windows · Old or damaged windows may need replacement	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Landscaping and exterior painting — Enhances curb appeal and property value ↑
• Both HVAC and window replacement — Improves comfort and energy efficiency ↑
• Both Roof and foundation repair — Ensures structural integrity and safety ↑

ⓘ 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: Irvington Public School District
• NCES district ID: 3407680
• Math proficiency: 4% ▼ -10.00%
• Reading proficiency: 23% ▼ -4.00%
• Median HH income: $39,682
• Composite: 11.46/100
• National rank: #9705
• State rank: #465 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

No demographic data for this ZIP.

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

• 2026-06-17 Listed $60,000 GSMLS