10 days on rocket

129 Carolina Ave, Newark City, NJ, 07106

$650,000

Home List Price

$7,719*

Closing Credit

6 Bedrooms
4 Full Baths
Multi

Location

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129 Carolina Ave, Newark$650,000

Buyer Closing Credits

$7,719*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Parking2 Car Width, Additional Parking, Blacktop, Driveway-Exclusive, Off-Street Parking
Year Built1944
HeatingElectric, Natural Gas
CoolingNone
BasementYes
MLS #3938979
Lot Size0.10 Acres
StatusActive

About 129 Carolina Ave

Well-maintained 4-family investment property offering a total of 6 bedrooms and 4 bathrooms. An impressive floor plan spanning approx 3,990 sqft is extremely spacious allowing for both 1-bedroom units to be easily converted into 2-bedroom units, providing excellent potential for increased rental income. The potential annual rental income for this property is $88,000, with annual taxes amounting to $7,929. This results in a net annual income of $80,071 before utilities and debt servicing charges. Currently, the rent roll is approximately $68,616 annually. Property has hardwood floors throughout and comes with newer roofing, furnace and windows. Basement is full size, standing height and amazing with unlimited potential. This is a commuter's delight, conveniently located near a NYC bus stop, 5 Minutes' drive to NYC train station, 15 minutes from Newark Liberty Airport, and close to major highways and shopping malls. ( Conventional loans only )

Property Details

Property Features

Property Information:

  • Architectural Style: Fourplex
  • Year Built: 1944

Listing Office:

  • Office Name: COLDWELL BANKER REALTY
  • Office Phone: (908) 422-8621

Interior Features

Interior Information:

  • Appliances: Refrigerator
  • Basement: Yes
  • Interior: Fire Extinguisher, High Ceilings, Smoke Detector, Tile Floors, Wood Floors

Bedroom and Bathroom Information:

  • Full Bathrooms: 4
  • Total Bedroom Count: 6

Exterior Features

Exterior Information:

  • Exterior: Curbs, Sidewalk

Parking Information:

  • Parking: 2 Car Width, Additional Parking, Blacktop, Driveway-Exclusive, Off-Street Parking

Lot Features

Lot Information:

  • Lot: Level
  • Lot Size: 0.10 Acres

Utilities

Utilities Information:

  • Heating: Electric, Natural Gas
  • Cooling: None

Other

Directions Information:

  • Directions: Carolina Ave

Price Information

Listing Price Info

Price Summary:

  • List Price: $650,000
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Housing Market Comparison

See how this home compares to others in Newark, NJ.

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Newark, NJ

City

Med. Sold Price

$440K

Med. Price/SqFt

$214

Avg. Days On Market

31

# of Sold Homes

31

129 Carolina Ave vs Newark

10 DAYS ON ROCKET

-21 Days

$650,000

+$210K More

KEY TAKEAWAY

This property is $210K more than the Median Sold Price in Newark, NJ.

Based on homes sold in December 2024

MLS Details

MLS Information:

  • MLS Number: #3938979

Listing Office:

  • Office Name: COLDWELL BANKER REALTY
  • Office Phone: (908) 422-8621

Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.

Disclaimer: The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as an IDX Listing. Information deemed reliable but not guaranteed.

Notice: The dissemination of listings displayed herein does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/7/2025, 12:55:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

We're sorry, we currently don't have sales or tax history data for this listing.

Payment Calculator

$3,312

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,015

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-722373
2
/10

  • University Elementary School

  • 1 University Pl

  • 0.30 miles

  • Public District Grades PK-5

school-card-donut-722374
2
/10

  • Madison Avenue

  • 173 Madison Ave

  • 0.45 miles

  • Public District Grades PK-5

school-card-donut-722375
3
/10

  • Burch Charter School of Excellence

  • 100 Linden Ave

  • 0.58 miles

  • Public Charter Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $46,327. Most Newark, NJ residents have annual incomes less than $35k. Typical family type is single, no kids. Most residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Rocket Homes›New Jersey›Essex County›Newark›07106›129 Carolina Ave

This home is located at 129 Carolina Ave in Newark City, NJ and zip code 07106 in the West Ward neighborhood. This home, which was built in 1944, sits on a 0.10 acre lot. Features: 6 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since December 27, 2024 and is currently priced at $650,000.

In December 2024, from all listings sold in Newark, NJ there were more than 17 sold above asking price, over 8 sold below and more than 6 were sold right at the asked price. The number of listings in Newark, NJ increased by 10.8% between November 2024 and December 2024. In December 2024, listings were on the market for 31 days. During the same period, the median list price in this real estate market was $440,000.

From Rocket Homes Real Estate and based on county public records data.

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