222 Park Ave · East Orange, NJ 07050-4146

$999,000

8 bd · 4.0 ba · 3,200 sqft · MultiFamily · 90 Days on market

Built 1905 9,583 sqft 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 +12.9/30.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Multi-family units

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

Listing remarks

This 4-family property, is perfect for investors or savvy buyers looking to live in one unit while generating rental income from the others. With strong rental potential, on-site dedicated parking and a prime location, this property is a smart addition to any portfolio.

Key facts

• Prime location
• 9,583 sq ft lot
• 8 parking spots

Tags

• ON-SITE DEDICATED PARKING
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $999k.

Deal economics

• At list price, monthly cash flow is $-72 ($-863/yr) — negative. Per door: $-18/mo.
• To cash-flow at today's rent, offer at most $989k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $865k (13.4% below list).
• Recommended offer: $865k (13.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.0% in East Orange — 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 73/100 on livability (#189 in NJ) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A, housing A-; Watch: crime D-, amenities F, cost of living D-.
• Orange Board Of Education School District (suburban): math 10% / reading 32% proficiency, ranked #432 of 472 in NJ (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Park Avenue Elementary School (math 7% / reading 23%, grade F, #1,116 of 1,303 statewide, top 86%, 387 students, 60% FRL); Orange High School (math 12% / reading 10%, grade F, #393 of 399 statewide, top 98%, 1,265 students, 70% FRL).
• 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 $37k of equity ($7k loan paydown + $30k 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 $280k cash investment doubles in ~7 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($939k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $864,800 (13.4% 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 90 days. Have you received any prior offers? Is the seller open to a 13% 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. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is D 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. 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?
10. 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.
11. 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.
12. 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: 0.87% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.31%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $614,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
92 Cleveland St	0.29mi	7/4.0 (-1)	3,117 (-3%)	6mo	$599,000	$192	72

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: 7.2%
• Equity multiple: 1.41×
• Total profit: $115,893
• Equity at exit: $449,194

10-year hold

• IRR: 10.0%
• Equity multiple: 2.50×
• Total profit: $419,323
• Equity at exit: $692,261

Cash invested: $279,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 21 Tenant-Leaning
• State New Jersey: 21 Tenant-Leaning · D+6
• County: — inherits STATE
• City: — inherits STATE

Anti-eviction Act requires just-cause statewide; rent control in 100+ municipalities; one of the most tenant-friendly states.

Methodology + full state rankings →

ZIP-level market 07050-4146

• Active inventory: 1
• Price-to-rent: 38.5×

Monthly cashflow live

• Estimated rent: $8,648 high
• Mortgage (P&I): −$5,239
• Tax est. 1.5%: −$1,249 /mo · $14,985/yr
• Insurance: −$416
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,816
• Net cashflow: $-72

Break-even live

Break-even rent $8,739

Max offer price $988,589

Occupancy floor 96%

Sensitivity live

Price	-10% $618	-5% $273	+0% $-72	+5% $-417	+10% $-762
Rent	-10% $-755	-5% $-414	+0% $-72	+5% $270	+10% $611
Rate	-1.0pp $431	-0.5pp $182	base $-72	+0.5pp $-331	+1.0pp $-594

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,648
Total (4 units)			$8,648

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: $249,750
• Closing costs: $29,970
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2025-12-24
   status Under Contract
2. 2025-10-30
   status Active
3. 2025-10-17
   historical
4. 2025-09-10
   listed $999,000 Active

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

Taxation est. · year 1

• Rental income: $103,776
• − Mortgage interest: −$55,960
• − Property taxes: −$14,985
• − Insurance: −$4,995
• − Repairs & maintenance: −$8,302
• − Management: −$8,302
• − Depreciation: −$29,062
• Taxable loss: −$17,830
• Est. tax savings @ 24.0%: +$4,279
• After-tax cash flow: $3,416/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: Orange Board Of Education School District
• NCES district ID: 3412270
• Math proficiency: 10% ▼ -18.00%
• Reading proficiency: 32% ▼ -7.00%
• Median HH income: $37,178
• Composite: 17.43/100
• National rank: #9065
• State rank: #432 of 472 in NJ

Livability — East Orange

• Score: 73/100
• State rank: #189
• US rank: #5261

Category grades

Amenities F Commute A+ Cost of living D- Crime D- Employment C Housing A- Health & safety A User ratings B

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

4 events — show timeline

• 2025-12-24 Pending — GSMLS
• 2025-10-30 Relisted — GSMLS
• 2025-10-17 Delisted — GSMLS
• 2025-09-10 Listed $999,000 GSMLS