10 days on rocket

492 Springfield Ave, Newark City, NJ, 07103

$950,000

Home List Price

$10,000*

Closing Credit

4 Bedrooms
2 Full Baths, 1 Partial
Multi

Location

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492 Springfield Ave, Newark$950,000

Buyer Closing Credits

$10,000*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingOn-Street Parking
Year Built9999
HeatingNatural Gas
CoolingCentral Air
BasementYes
MLS #3937288
Lot Size0.04 Acres
StatusActive

About 492 Springfield Ave

Prime Mixed-Use Opportunity on Springfield AvenueWelcome to 492 Springfield Avenue, Newark, NJ a versatile mixed-use property offering a perfect blend of commercial potential and residential income. This well-positioned building features two spacious apartments, each boasting 3 bedrooms and 1 bath, with separate utilities for convenience and flexibility. The ground-level commercial space is ideal for retail, office, or service businesses, benefiting from high visibility on a bustling thoroughfare in the vibrant West Side neighborhood. With its proximity to public transportation, schools, shops, and other amenities, this property is a magnet for both tenants and customers. Situated in an area of growth and development, it presents a unique opportunity for investors, business owners, or those seeking a live-work space. Don't miss your chance to own a high-potential property in the heart of Newark!

Property Details

Property Features

Property Information:

  • Architectural Style: 3-Three Story, See Remarks
  • Year Built: 9999

Listing Office:

  • Office Name: SIGNATURE REALTY NJ
  • Office Phone: (973) 680-2920

Interior Features

Interior Information:

  • Appliances: Other, Dishwasher
  • Basement: Yes
  • Interior: Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector

Bedroom and Bathroom Information:

  • Partial Bathrooms: 1
  • Full Bathrooms: 2
  • Total Bedroom Count: 4

Exterior Features

Parking Information:

  • Parking: On-Street Parking

Lot Features

Lot Information:

  • Lot: Irregular Lot
  • Lot Size: 0.04 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas
  • Cooling: Central Air

Other

Directions Information:

  • Directions: Springfield ave Corner of Blum

Price Information

Listing Price Info

Price Summary:

  • List Price: $950,000
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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

$400K

Med. Price/SqFt

$220

Avg. Days On Market

14

# of Sold Homes

30

492 Springfield Ave vs Newark

10 DAYS ON ROCKET

-4 Days

$950,000

+$550K More

KEY TAKEAWAY

This property is $550K more than the Median Sold Price in Newark, NJ.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #3937288

Listing Office:

  • Office Name: SIGNATURE REALTY NJ
  • Office Phone: (973) 680-2920

Information deemed reliable but not guaranteed. Copyright © 2024 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: 12/18/2024, 12:55:49 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

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Payment Calculator

$4,809

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,915

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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.

Nearby Schools

school-card-donut-4361281
2
/10

  • Harriet Tubman Elementary School

  • 504 S 10th St

  • 0.18 miles

  • Public District Grades PK-6

school-card-donut-4361282
2
/10

  • Grove Street Elementary School

  • 602 Grove St

  • 0.71 miles

  • Public District Grades PK-5

school-card-donut-4361283
5
/10

  • Sir Isaac Newton Elementary School

  • 150 Newton St

  • 0.78 miles

  • Public District Grades PK-1

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $51,978. Typical income of Newark, NJ residents is between $35k-100k annually. Most families are single, no kids. The majority of residents in this area have high school diploma education.

All data provided by Home Junction and Claritas

Rocket Homes›New Jersey›Essex County›Newark›07103›492 Springfield Ave

This home is located at 492 Springfield Ave in Newark City, NJ and zip code 07103 in the West Ward neighborhood. This home, which was built in 9999, sits on a 0.04 acre lot. Features: 4 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since December 07, 2024 and is currently priced at $950,000.

While more than 22 listings in Newark, NJ in November 2024 were sold above asking price, there were more than 1 listings sold at asking price, and more than 7 were sold below. In November 2024 in Newark, NJ there were 13.5% more homes for sale than in October 2024. Listings spent 14 days on the market in November 2024, and had a median list price of $400,000 during the same period.

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

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