Wholesale – Coming Soon! (Scroll Down to See Pics Below), Newark, NJ 07105
Property looks to be free and clear. Paid $237,500.00 No central air. Tenants? Jan 9, 2020: 327 New York Ave, Newark, NJ 07105: $590K (3 units; 6 bd, 3 ba, 2776 sqft); Build in 1930 – (53 DOM) October 2019: 76 Vincent St, Newark, NJ 07105: $579K (4 units; 8 bd 4 ba 2,838 sqft); 1.5 miles away (all rented). Time on Zillow: 150 days -Originally listed for $650K. March 2019: 10 Merchant St, NEWARK 07105: $650K (3 units; 10 bd, 5 ba 3,816 sqft): Built in 1897. – Good Comp Factors affecting Price and Days on Market: Property Condition and Cost / Profitability. How many vacant units. How much it's renting for now. Need to assess current state of the property – the vacant one and your Mom's. Are utilities separate? Also, who pays what: Owner pays water; tenants pay utilities? Keep in mind that whatever profit is made, taxes will have to be paid. (Is it free & clear?) What are your goals? Do you want to sell fast? Do you have a goal to cover medical costs? Are you willing to cover the cost of fixing up the property to get a Cert of Occupancy; paying closing costs; cleaning up the vacant units? Doing showings? Will need to do a title search… 6 multi-families done in Newark, NJ week of 2/7/2020: $525.00 (3-5 days) for 15-20 Pages of Commentary: Joe is appraiser Patrick 201-396-0729 Property at 121 Jabez is under contract for higher than the asking price of $725K (13 beds; 7 baths; 3394 sq feet). Property at 18-20 Francis St, Newark – Offer of $750K not accepted by seller (currently listed at $848K). 47-49 Carmen Street; priced at $860k, no much activity; no offers yet; one possible buyer looking into financing; 2 floors; 2nd unit has bath in master bedroom; (2 bathrooms); 1st unit has 2 levels – 3/2 on top 2/2 on bottom; backyard for barbecuing, offstreet parking… quite / dead end street; low traffic. $2000 & $2700 in rent.