9 months on rocket

161-167 N 7th St, Newark, NJ, 07107

$1,575,000

Home List Price

$10,000*

Closing Credit

14 Bedrooms
8 Full Baths
9,370 SqFt
$168/SqFt
Multi

Location

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161-167 N 7th St, Newark$1,575,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingOther
Year Built1910
CoolingOther
BasementYes
MLS #22401627
Lot Size0.21 Acres
StatusActive

About 161-167 N 7th St

Amazing INVESTMENT opportunity!!! Own your own SRO building in an excellent suburban Newark area, there are very few SRO's left in the area and the demand is GREAT for these money making buildings! This home has been built with strong stone foundation, in the early 19th century as a stunning mansion, with time the property obtained a single occupancy license that can accommodate twenty people/couples. They have a shared kitchen on every floor and some 5 units have their own baths. With creative TLC you can upgrade this home to 20th century vibes. As a bonus owner has drawn up an extension of over 40 additional studio units using the attached vacant lot and the back. BONUS: Vacant buildable lot attached!

Property Details

Property Features

Property Information:

  • Year Built: 1910
  • Living Area: 9,370 SqFt

Listing Office:

  • Office Name: Silvera Realty Co.
  • Listing Agent: Rachel Aviv

Interior Features

Interior Information:

  • Basement: Yes
  • Flooring Type: Other

Bedroom and Bathroom Information:

  • Full Bathrooms: 8
  • Total Bedroom Count: 14

Exterior Features

Exterior Information:

  • Exterior: Patio, Storm Door(s)

Parking Information:

  • Attached Garage: No
  • Parking: Other

Lot Features

Lot Information:

  • Lot Size: 0.21 Acres

Utilities

Utilities Information:

  • Cooling: Other

School Info

Assigned Schools Information:

  • Barringer High School, Public District Grades 9-12
  • Technology High School, Public District Grades 9-12
  • Central High School, Public District Grades 9-12
  • Sussex Avenue Elementary School, Public District Grades PK-8

Price Information

Listing Price Info

Price Summary:

  • List Price: $1,575,000
  • Price Per SqFt: $168/SqFt

Tax Information:

  • Annual Amount: $9,880
  • Tax Year: 2020
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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

$396.1K

Med. Price/SqFt

$204

Avg. Days On Market

75

# of Sold Homes

34

161-167 N 7th St vs Newark

291 DAYS ON ROCKET

+216 Days

$1,575,000

+$1.1M More

$168/SqFt

-$36 Less

KEY TAKEAWAY

This property is $1.1M more than the Median Sold Price and $36/SqFt less than other homes in Newark, NJ.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: MOREMLS (Monmouth Ocean Regional REALTORS®)
  • MLS Number: #22401627

Listing Office:

  • Office Name: Silvera Realty Co.
  • Listing Agent: Rachel Aviv

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information 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. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/5/2024, 8:20:55 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Oct 05, 2007Home Sold
$245,000
Apr 15, 2004Home Sold
$255,000

Tax History

YEARPROP. TAXASSESSMENT
2020$9,880$262,700
2019$8,981$262,700
2018$8,658$243,200
2017$8,658$243,200

History based on county public records data.

Payment Calculator

$7,928

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$4,788

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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.

Elementary School

school-card-donut-1990008
2
/10

  • Sussex Avenue Elementary School

  • 307 Sussex Ave

  • 0.21 miles

  • Public District Grades PK-8

High School

school-card-donut-1990009
1
/10

  • Barringer High School

  • 90 Parker St

  • 0.80 miles

  • Public District Grades 9-12

school-card-donut-1990010
8
/10

  • Technology High School

  • 223 Broadway

  • 1.36 miles

  • Public District Grades 9-12

school-card-donut-1990011
1
/10

  • Central High School

  • 250 18th Ave

  • 1.40 miles

  • Public District Grades 9-12

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $33,590. Most Newark, NJ residents have annual incomes less than $35k. Typical family type is single, no kids. The majority of residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Rocket Homes›New Jersey›Essex County›Newark›07107›161-167 N 7th St

This home is located at 161-167 N 7th St in Newark, NJ and zip code 07107 in the West Ward neighborhood. This 9,370 square foot home, which was built in 1910, sits on a 0.21 acre lot. Features: 14 bedrooms, 8 bathrooms. It has been listed on Rocket Homes since January 18, 2024 and is currently priced at $1,575,000.

In October 2024, from all listings sold in Newark, NJ there were more than 24 sold above asking price, over 7 sold below and more than 3 were sold right at the asked price. The number of homes for sale in Newark, NJ increased by 25.4% between September 2024 and October 2024. In October 2024 median list price was $396,125 and the average listing age was 75 days.

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

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