69-71 Stockman Pl · Newark, NJ 07111-2764

$785,000

8 bd · 4.0 ba · 4,936 sqft · MultiFamily · 15 Days on market

Built 1926 Fair condition 4,791 sqft lot Est $721k · 9% over

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Why this score? — see what drove the C- 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 +21.2/30.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Appreciation +5.0/10.0
• ARV discount +3.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.1/10.0

Multi-family units

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

Listing remarks

Rare Investment Opportunity: Massive 10-Bedroom 4-Family Powerhouse!Welcome to a significant addition to any investment portfolio. This sprawling 4-family property, built in the early 1900s, offers an incredible scale rarely found in the Northern New Jersey market. Located in the heart of Irvington, this turn-of-the-century multi-family home features a staggering 10 bedrooms and 4 bathrooms across four distinct units, providing immediate high-capacity rental potential. Highlights:Unit Configuration: 4 residential units designed for optimized rental income and utility. Sleeping Quarters: Total of 10 bedrooms, offering rare versatility in the Essex County market. Historic Character: Features

Key facts

• Historic character
• Prime location
• 4,791 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• OPTIMIZED RENTAL INCOME
• HISTORIC CHARACTER
• PRIME LOCATION
• EASY ACCESS TO TRANSPORTATION

Property features AI

Finance

• Financial info: 4 total units; Reported net operating income and gross operating income listed (see listing for details); Operating expenses reported (see listing for details); Unit rents: Unit 1 $1,600; Unit 2 $1,900; Unit 3 $1,900; Unit 4 $2,400; Security deposits: Unit 1 $2,400; Unit 2 $2,850; Unit 3 $2,850; Unit 4 $3,600; Tenant/owner utility responsibilities: Units 1–3 tenants pay electric and gas; Unit 4 owner pays electric and gas

Exterior

• Parking: Four parking spaces; One-car-width blacktop driveway (shared); On-street parking available
• Utilities: Public sewer; Public water; Utilities: see remarks
• Home design: Two-story building; Fourplex
• Construction: Standing construction date (year built listed as 'Standing')
• Exterior features: Aluminum siding; Brick exterior; Asphalt shingle roof

Interior

• Kitchen: Each unit includes a refrigerator
• Bedrooms: Unit 1: 2 bedrooms; Unit 2: 2 bedrooms; Unit 3: 2 bedrooms; Unit 4: 4 bedrooms
• Bathrooms: Four full bathrooms (one per unit)
• Heating & cooling: Radiant electric heating; Wall A/C units
• Interior features: Finished basement; Gas water heater; Radiant electric heating; Wall A/C units
• Laundry & utility: Tenant/owner utility responsibilities vary by unit (see unit details)

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $785k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $284/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $785k).
• Recommended offer: $773k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% 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.
• 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 $29k of equity ($5k loan paydown + $24k 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 $220k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($773k) 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 1926 — 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 $773,225 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1926 — 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. 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.
9. 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.
10. 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: 1.06% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.20%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $720,656
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26-28 Unity Ave	0.56mi	8/4.0	4,306 (-13%)	24mo	$630,000	$146	33

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: 13.3%
• Equity multiple: 1.76×
• Total profit: $167,042
• Equity at exit: $352,970

10-year hold

• IRR: 15.2%
• Equity multiple: 3.25×
• Total profit: $493,550
• Equity at exit: $543,969

Cash invested: $219,800 (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 07111-2764

• Active inventory: 1
• Price-to-rent: 31.5×

Monthly cashflow live

• Estimated rent: $8,305 high
• Mortgage (P&I): −$4,117
• Tax est. 1.5%: −$981 /mo · $11,775/yr
• Insurance: −$327
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,744
• Net cashflow: $1,136

Break-even live

Break-even rent $6,867

Max offer price $785,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,304
Total (4 units)			$8,305

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: $196,250
• Closing costs: $23,550
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $785,000 Active 15 DOM
2. 2026-06-17
   days on market $785,000 Active 14 DOM
3. 2026-06-16
   days on market $785,000 Active 13 DOM
4. 2026-06-15
   days on market $785,000 Active 12 DOM
5. 2026-06-13
   days on market $785,000 Active 10 DOM
6. 2026-06-09
   days on market $785,000 Active 6 DOM
7. 2026-06-08
   days on market $785,000 Active 5 DOM
8. 2026-06-07
   days on market $785,000 Active 4 DOM
9. 2026-06-04
   remarks 699-char remark
10. 2026-06-04
    listed $785,000 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 ≥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: $99,660
• − Mortgage interest: −$43,972
• − Property taxes: −$11,775
• − Insurance: −$3,925
• − Repairs & maintenance: −$7,973
• − Management: −$7,973
• − Depreciation: −$22,836
• Taxable income: $1,206
• Est. tax owed @ 24.0%: −$289
• After-tax cash flow: $13,342/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 multi-family property requires significant repairs and maintenance, particularly to the roof and exterior siding, to improve its condition and value.

Repairs flagged

• Major roof — Significant damage and wear visible.
• Major exterior siding — Severe discoloration and wear.
• Minor kitchen and bathroom clutter — Items on countertops and floors need to be cleared.

Value-add opportunities

• Both Paint the exterior siding — Fresh paint can significantly improve curb appeal and property value.
• Both Clean and organize the kitchen and bathrooms — A clean and organized space is more appealing to potential buyers and renters.
• Both Repair the roof — A repaired roof will prevent further damage and improve the property's overall condition.
• Both Prune and maintain the landscaping — Well-maintained landscaping can enhance the property's curb appeal and attract more potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage and wear visible.	Major	$15,000–50,000
exterior siding · Severe discoloration and wear.	Major	$15,000–50,000
kitchen and bathroom clutter · Items on countertops and floors need to be cleared.	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both Paint the exterior siding — Fresh paint can significantly improve curb appeal and property value. ↑
• Both Clean and organize the kitchen and bathrooms — A clean and organized space is more appealing to potential buyers and renters. ↑
• Both Repair the roof — A repaired roof will prevent further damage and improve the property's overall condition. ↑
• Both Prune and maintain the landscaping — Well-maintained landscaping can enhance the property's curb appeal and attract more potential buyers and renters. ↑

ⓘ 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

+0.0% since first listed

2 events — show timeline

• 2026-06-03 Listed $785,000 HCMLS
• 2026-06-03 Listed $785,000 GSMLS