38 Eckert Ave · Newark, NJ 07112

$550,000

6 bd · 3.0 ba · 2,770 sqft · MultiFamily · 44 Days on market

Built 1912 Fair condition 3,484 sqft lot

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Why this score? — see what drove the B- 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 +25.3/30.0
• Appreciation +10.0/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.6/10.0
• Livability +3.4/5.0
• Rent growth +3.2/5.0
• Condition / age +2.2/5.0
• 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 MLS

****IMPORTANT: No open houses on Saturday May 9Th. Do not disturb the residents.*****Welcome to 38-40 Eckert Ave! This 3-family property offers excellent income potential, making it ideal for investors or owner-occupants looking to generate rental income.The first floor features a 2-bedroom, 1-bath unit. The second floor offers 3 bedrooms and 1 bath. The third floor includes a 2-bedroom, 1-bath layout. The property is currently occupied but will be delivered vacant. Giving you flexibility to set your own rents or move in and rent out the other units.Conveniently located near major highways, public transportation, shopping centers and schools.Schedule your appointment today! Disclaimer: Certain photos have been digitally cleaned or modified. Current photos are available upon request.

Key facts

• 3,484 sq ft lot
• 4 parking spots
• Built 1912

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 1×3bd/1ba units multifamily listed at $550k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $419/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• Recommended offer: $534k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 rising (+2.8%/yr); 37 active listings in the ZIP; 3,364 units permitted in Essex County in 2024 (2,551 in 5+ unit buildings).
• At $6,402/mo this rent would consume 132% of the median local household income ($58k/yr) (locally 2148% 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 $59k of equity ($4k loan paydown + $55k appreciation (10.0% local appreciation)).
• Essex County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 2.8% rent growth), your $154k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$95k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($534k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• 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 $533,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1912 — 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. 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: 1.16% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.79%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 2.75% rent growth · sell at horizon

5-year hold

• IRR: 31.3%
• Equity multiple: 3.46×
• Total profit: $378,072
• Equity at exit: $495,484

10-year hold

• IRR: 27.0%
• Equity multiple: 7.80×
• Total profit: $1,047,384
• Equity at exit: $1,068,529

Cash invested: $154,000 (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 07112

• Home prices YoY: 10.7%
• Rents YoY: 2.8%
• Active inventory: 37
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $6,402 high
• Mortgage (P&I): −$2,884
• Tax est. 1.5%: −$688 /mo · $8,250/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,344
• Net cashflow: $1,257

Break-even live

Break-even rent $4,811

Max offer price $550,000

Occupancy floor 75%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,136
1× unit	3	1	$2,265
Total (3 units)			$6,402

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $550,000 Active 44 DOM
2. 2026-06-17
   days on market $550,000 Active 43 DOM
3. 2026-06-16
   days on market $550,000 Active 42 DOM
4. 2026-06-15
   days on market $550,000 Active 41 DOM
5. 2026-06-13
   days on market $550,000 Active 39 DOM
6. 2026-06-13
   days on market $550,000 Active 38 DOM
7. 2026-06-09
   days on market $550,000 Active 35 DOM
8. 2026-06-08
   days on market $550,000 Active 34 DOM
9. 2026-06-07
   days on market $550,000 Active 33 DOM
10. 2026-06-04
    days on market $550,000 Active 30 DOM
11. 2026-06-03
    days on market $550,000 Active 29 DOM
12. 2026-06-02
    days on market $550,000 Active 28 DOM
13. 2026-06-01
    days on market $550,000 Active 27 DOM
14. 2026-05-31
    days on market $550,000 Active 26 DOM
15. 2026-05-05
    listed $550,000 Active 793-char remark

    Show marketing remark (793 chars)

    ****IMPORTANT: No open houses on Saturday May 9Th. Do not disturb the residents.*****Welcome to 38-40 Eckert Ave! This 3-family property offers excellent income potential, making it ideal for investors or owner-occupants looking to generate rental income.The first floor features a 2-bedroom, 1-bath unit. The second floor offers 3 bedrooms and 1 bath. The third floor includes a 2-bedroom, 1-bath layout. The property is currently occupied but will be delivered vacant. Giving you flexibility to set your own rents or move in and rent out the other units.Conveniently located near major highways, public transportation, shopping centers and schools.Schedule your appointment today! Disclaimer: Certain photos have been digitally cleaned or modified. Current photos are available upon request.

16. 2026-04-23
    historical $550,000 793-char remark

    Show marketing remark (793 chars)

    ****IMPORTANT: No open houses on Saturday May 9Th. Do not disturb the residents.*****Welcome to 38-40 Eckert Ave! This 3-family property offers excellent income potential, making it ideal for investors or owner-occupants looking to generate rental income.The first floor features a 2-bedroom, 1-bath unit. The second floor offers 3 bedrooms and 1 bath. The third floor includes a 2-bedroom, 1-bath layout. The property is currently occupied but will be delivered vacant. Giving you flexibility to set your own rents or move in and rent out the other units.Conveniently located near major highways, public transportation, shopping centers and schools.Schedule your appointment today! Disclaimer: Certain photos have been digitally cleaned or modified. Current photos are available upon request.

ⓘ 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 · 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: $76,824
• − Mortgage interest: −$30,809
• − Property taxes: −$8,250
• − Insurance: −$2,750
• − Repairs & maintenance: −$6,146
• − Management: −$6,146
• − Depreciation: −$16,000
• Taxable income: $6,724
• Est. tax owed @ 24.0%: −$1,614
• After-tax cash flow: $13,466/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 · 13 photos

Fair 45/100 Moderate rehab

This 3-family property requires moderate renovations to improve its curb appeal and interior condition, with a focus on exterior painting and landscaping.

Repairs flagged

• Major siding — Significant wear and tear
• Major landscaping — Overgrown and unkempt
• Major exterior paint — Peeling and faded

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both landscape and maintain — Improves curb appeal and value
• Both paint interior walls — Enhances interior appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
landscaping · Overgrown and unkempt	Major	$15,000–50,000
exterior paint · Peeling and faded	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both landscape and maintain — Improves curb appeal and value ↑
• Both paint interior walls — Enhances interior appearance and 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
• County: Essex County · 825,405 people
• City population: 310,602
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 29,456
• Household income: $58,200
• Rent vs Own: 70.9% rent · 29.1% own
• Severe rent burden: 2148.0

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 (85%)
• Race & ethnicity: Black 85% Hispanic / Latino 9% Two or more races 5% White 1%
• Hispanic origin (detail): Puerto Rican 3% Dominican 2%
• Common ancestry: Swiss 1% Hispanic 1% Italian 1%
• Foreign-born: 24% · Canada, China, United Kingdom
• Languages at home: 78% English-only · Spanish 9% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▲ 40.64%
• Current HPI: 422.0928
• Rent YoY: ▲ 2.75%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-05 Listed $550,000 GSMLS
• 2026-04-23 Coming Soon $550,000 GSMLS