291 Vermont Ave · Newark, NJ 07111-7517

$749,000

8 bd · 4.0 ba · 4,032 sqft · SingleFamily public records · 60 Days on market

Built 1927

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Amazing 4 family property with 3 parking garage and additonal parking in the back. Close to public transportation, stores and highways. Income producing property, great opportunity for an investor. Property being sold AS IS.

Key facts

• 3 garage spots
• Built 1927
• Listed 60 days

Property features AI

Finance

• Financial info: Four total units; Reported net operating income: 0; Reported gross operating income: 0; Reported total operating expenses: 0

Exterior

• Parking: Three parking spaces total; Detached 3-car garage (1 car width driveway)
• Utilities: Natural gas available; Public water; Public sewer
• Home design: Fourplex; Renovated in 2024; Year built listed as approximate
• Construction: Aluminum siding and brick construction; Asphalt shingle roof; Approximate year built; Renovated in 2024
• Exterior features: Aluminum siding; Brick exterior; Asphalt shingle roof; No easements

Interior

• Kitchen: Each unit includes a kitchen; Range/Oven - Gas; Refrigerator
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms; Unit 3: 2 bedrooms; Unit 4: 2 bedrooms
• Bathrooms: Four full bathrooms (total)
• Heating & cooling: Four heating units; Natural gas heating; Wall A/C units
• Interior features: Unfinished basement; Has basement
• Laundry & utility: Owner pays water for all units; Tenants pay electric, gas, and heat (per unit)

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath single-family listed at $749k.

Deal economics

• At list price, monthly cash flow is $-5k ($-59k/yr) — negative.
• To cash-flow at today's rent, offer at most $162k (78.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (81.0% below list).
• Recommended offer: $142k (81.0% below list) — sets the bar for 1% rule.
• Cap rate -1.6% vs local median 3.0% in Newark — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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 60 days — a 3% lower offer ($727k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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 $525k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1927 — 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 $142,149 (81.0% 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 60 days. Have you received any prior offers? Is the seller open to a 81% concession, seller financing, or rate buy-down credit?
3. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 0.19% ✗
• Cap rate: -1.60%
• Cash-on-cash: -28.17%
• DSCR: -0.25
• GRM: 43.9

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: -18.2%
• Equity multiple: -0.06×
• Total profit: $-222,798
• Equity at exit: $336,783

10-year hold

• IRR: -10.3%
• Equity multiple: -0.68×
• Total profit: $-352,785
• Equity at exit: $519,023

Cash invested: $209,720 (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 07111-7517

• Active inventory: 1
• Price-to-rent: 43.9×

Monthly cashflow live

• Estimated rent: $1,421 medium
• Mortgage (P&I): −$3,928
• Tax from tax record: −$1,807 /mo · $21,679/yr
• Insurance: −$312
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $-4,924

Break-even live

Break-even rent $7,654

Max offer price $162,497

Occupancy floor —

Sensitivity live

Price	-10% $-4,500	-5% $-4,712	+0% $-4,924	+5% $-5,136	+10% $-5,348
Rent	-10% $-5,036	-5% $-4,980	+0% $-4,924	+5% $-4,867	+10% $-4,811
Rate	-1.0pp $-4,546	-0.5pp $-4,733	base $-4,924	+0.5pp $-5,118	+1.0pp $-5,315

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: $187,250
• Closing costs: $22,470
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-05-22
   status Under Contract
2. 2026-03-22
   listed $749,000 Active
3. 2022-07-19
   soldstatus $525,000 Sold 224-char remark

   Show marketing remark (224 chars)

   Amazing 4 family property with 3 parking garage and additonal parking in the back. Close to public transportation, stores and highways. Income producing property, great opportunity for an investor. Property being sold AS IS.

4. 2022-07-13
   soldstatus $530,000
5. 2022-04-04
   historical Under Contract 224-char remark

   Show marketing remark (224 chars)

   Amazing 4 family property with 3 parking garage and additonal parking in the back. Close to public transportation, stores and highways. Income producing property, great opportunity for an investor. Property being sold AS IS.

6. 2022-02-19
   listed $499,000 Active 224-char remark

   Show marketing remark (224 chars)

   Amazing 4 family property with 3 parking garage and additonal parking in the back. Close to public transportation, stores and highways. Income producing property, great opportunity for an investor. Property being sold AS IS.

7. 2022-02-03
   historical
8. 2021-09-08
   historical Under Contract
9. 2021-06-15
   listed $475,000 Active
10. 2020-04-17
    soldstatus $350,000 Sold
11. 2020-04-09
    historical
12. 2020-04-08
    status Active
13. 2020-03-19
    historical
14. 2020-03-17
    listed $360,000 Active
15. 2018-04-16
    soldstatus $162,000 Sold
16. 2018-02-26
    soldstatus $162,000
17. 2018-02-20
    soldstatus $162,000 Sold
18. 2017-11-01
    historical
19. 2017-10-10
    listed $139,900 Active
20. 2017-03-15
    historical
21. 2017-03-09
    listed $89,000 Active
22. 2005-03-21
    soldstatus $328,600
23. 2003-07-25
    soldstatus $226,600
24. 2001-11-08
    soldstatus $175,000
25. 1989-05-18
    soldstatus $195,000
26. 1986-06-12
    soldstatus $122,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NJ · Partial reset (capped growth)

• Current annual tax: $21,679 · $1,807/mo
• Projected year-2 tax: $21,679 · $1,807/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 · 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: $17,058
• − Mortgage interest: −$41,956
• − Property taxes: −$21,679
• − Insurance: −$3,745
• − Repairs & maintenance: −$1,365
• − Management: −$1,365
• − Depreciation: −$21,789
• Taxable loss: −$74,840
• Est. tax savings @ 24.0%: +$17,962
• After-tax cash flow: $-41,121/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: 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

+513.9% since first listed

26 events — show timeline

• 2026-05-22 Pending — GSMLS
• 2026-03-22 Listed $749,000 GSMLS
• 2022-07-19 Sold (MLS) $525,000 NJMLS
• 2022-07-13 Sold (Public Records) $530,000 Public Records
• 2022-04-04 Contingent — NJMLS
• 2022-02-19 Listed $499,000 NJMLS
• 2022-02-03 Delisted — NJMLS
• 2021-09-08 Contingent — NJMLS
• 2021-06-15 Listed $475,000 NJMLS
• 2020-04-17 Sold (MLS) $350,000 GSMLS
• 2020-04-09 Delisted — GSMLS
• 2020-04-08 Relisted — GSMLS
• 2020-03-19 Delisted — GSMLS
• 2020-03-17 Listed $360,000 GSMLS
• 2018-04-16 Sold (MLS) $162,000 GSMLS
• 2018-02-26 Sold (Public Records) $162,000 Public Records
• 2018-02-20 Sold (MLS) $162,000 GSMLS
• 2017-11-01 Delisted — GSMLS
• 2017-10-10 Listed $139,900 GSMLS
• 2017-03-15 Delisted — GSMLS
• 2017-03-09 Listed $89,000 GSMLS
• 2005-03-21 Sold (Public Records) $328,600 Public Records
• 2003-07-25 Sold (Public Records) $226,600 Public Records
• 2001-11-08 Sold (Public Records) $175,000 Public Records
• 1989-05-18 Sold (Public Records) $195,000 Public Records
• 1986-06-12 Sold (Public Records) $122,000 Public Records

Property tax history

+3.6%/yr

Latest (2025): $21,679 · +11.6% YoY. Source: county tax records.