874 S 16Th St · Newark, NJ 07108-1299

$675,000

6 bd · 6.9 ba · 4,100 sqft · MultiFamily · 51 Days on market

Built 1906 Good condition 3,049 sqft lot Est $504k · 34% over

---

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 +18.4/30.0
• DSCR +5.8/10.0
• Appreciation +5.0/10.0
• 1% rule +4.9/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Welcome to this fully renovated, income-producing three-family home located at 874-876 S 16th St. This expansive property offers the perfect combination of modern upgrades, functional layouts, and strong investment potential. The first-floor unit features a well-designed 3-bedroom, 1-bath layout with updated finishes and a seamless flow between living and dining areas. The second-floor unit offers a spacious 3-bedroom, 2-bath configuration, highlighted by a primary suite with a private en-suite bathroom and walk-in closet ideal for owner-occupants or premium rental income. The third-floor unit includes a 1-bedroom, 1-bath apartment, currently rented at $1,800/month on a month-to-month basis

Key facts

• Fully renovated
• Outdoor recreation
• Private driveway

Tags

• FULLY RENOVATED
• INCOME PRODUCING
• PRIVATE DRIVEWAY
• AMPLE PARKING
• EXCELLENT ACCESSIBILITY
• OUTDOOR RECREATION

Property features AI

Finance

• Financial info: Property configured as 3 separate units; Net operating income, gross operating income, and total operating expenses listed as 0

Exterior

• Parking: Four parking spaces; Driveway details: see remarks
• Utilities: Natural gas service; Public sewer; Public water
• Home design: Three-story unit style
• Construction: Year built: approximate
• Exterior features: Vinyl siding; Asphalt shingle roof

Interior

• Kitchen: Each unit includes a kitchen and eat-in kitchen areas (per unit descriptions)
• Bedrooms: Unit 1: 3 bedrooms; Unit 2: 3 bedrooms; Unit 3: 1 bedroom
• Bathrooms: Five full bathrooms total (units include 2, 2, and 1)
• Heating & cooling: Baseboard hot water heating (natural gas); Cooling: see remarks
• Interior features: Full basement
• Laundry & utility: Tenants responsible for gas, heat, and water (per-unit); Heating is hot water baseboard (natural gas)

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 1×3bd/2ba + 1×1bd/1ba units multifamily listed at $675k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $631 ($8k/yr) — positive. Per door: $210/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $670k (0.7% below list).
• Recommended offer: $655k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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; 3,364 units permitted in Essex County in 2024 (2,551 in 5+ unit buildings).

Forward outlook

• In year one you build about $25k of equity ($5k loan paydown + $20k 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 $189k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($655k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $585k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 6→13/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $654,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1906 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.99% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.01%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $504,300
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
742-744 10th St	0.36mi	7/3.0 (+1)	3,910 (-5%)	2mo	$479,999	$123	54

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: 11.2%
• Equity multiple: 1.64×
• Total profit: $121,628
• Equity at exit: $303,509

10-year hold

• IRR: 13.4%
• Equity multiple: 2.99×
• Total profit: $376,871
• Equity at exit: $467,744

Cash invested: $189,000 (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 07108-1299

• Active inventory: 1
• Price-to-rent: 23.6×

Monthly cashflow live

• Estimated rent: $6,704 high
• Mortgage (P&I): −$3,540
• Tax est. 1.5%: −$844 /mo · $10,125/yr
• Insurance: −$281
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,408
• Net cashflow: $631

Break-even live

Break-even rent $5,905

Max offer price $675,000

Occupancy floor 86%

Sensitivity live

Price	-10% $1,098	-5% $865	+0% $631	+5% $398	+10% $165
Rent	-10% $102	-5% $367	+0% $631	+5% $896	+10% $1,161
Rate	-1.0pp $971	-0.5pp $803	base $631	+0.5pp $456	+1.0pp $279

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

Units	Beds	Baths	Est. rent
1× unit	3	1	$2,387
1× unit	3	2	$2,387
1× unit	1	1	$1,930
Total (3 units)			$6,704

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $675,000 Active 51 DOM
2. 2026-06-18
   days on market $675,000 Active 48 DOM
3. 2026-06-17
   days on market $675,000 Active 47 DOM
4. 2026-06-16
   days on market $675,000 Active 46 DOM
5. 2026-06-15
   days on market $675,000 Active 45 DOM
6. 2026-06-13
   days on market $675,000 Active 43 DOM
7. 2026-06-13
   days on market $675,000 Active 42 DOM
8. 2026-06-09
   days on market $675,000 Active 39 DOM
9. 2026-06-08
   days on market $675,000 Active 38 DOM
10. 2026-06-07
    days on market $675,000 Active 37 DOM
11. 2026-06-04
    days on market $675,000 Active 34 DOM
12. 2026-06-03
    days on market $675,000 Active 33 DOM
13. 2026-06-02
    days on market $675,000 Active 32 DOM
14. 2026-06-01
    days on market $675,000 Active 31 DOM
15. 2026-05-31
    days on market $675,000 Active 30 DOM
16. 2026-05-01
    listed $675,000 Active 1282-char remark
17. 2025-02-20
    soldstatus $585,000 Sold
18. 2024-11-20
    historical Under Contract Cont. to Show
19. 2024-11-09
    listed $555,000 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 6/10 Major 6 d/yr ≥101°F today · 13 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: $80,448
• − Mortgage interest: −$37,810
• − Property taxes: −$10,125
• − Insurance: −$3,375
• − Repairs & maintenance: −$6,436
• − Management: −$6,436
• − Depreciation: −$19,636
• Taxable loss: −$3,371
• Est. tax savings @ 24.0%: +$809
• After-tax cash flow: $8,386/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 · 12 photos

Good 80/100 Cosmetic rehab

This fully renovated, income-producing three-family home offers modern upgrades, functional layouts, and strong investment potential. The property is move-in ready with updated finishes and a clean exterior.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace old appliances with energy-efficient models — Modern appliances improve energy efficiency and appeal
• Both Install smart home devices — Smart home devices increase convenience and add value
• Both Add smart thermostat — Smart thermostat improves energy efficiency and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace old appliances with energy-efficient models — Modern appliances improve energy efficiency and appeal ↑
• Both Install smart home devices — Smart home devices increase convenience and add value ↑
• Both Add smart thermostat — Smart thermostat improves energy efficiency and adds value ↑

ⓘ 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

+21.6% since first listed

4 events — show timeline

• 2026-05-01 Listed $675,000 GSMLS
• 2025-02-20 Sold (MLS) $585,000 GSMLS
• 2024-11-20 Contingent — GSMLS
• 2024-11-09 Listed $555,000 GSMLS