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492 Springfield Ave, Newark, NJ, 07103

$950,000

Home List Price

$10,000*

Closing Credit

6 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
MLS #24038454
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

Listing Office:

  • Office Name: Signature Realty NJ LLC
  • Office Phone: (973) 921-1111
  • Listing Agent: Claudia Brombauer

Interior Features

Bedroom and Bathroom Information:

  • Partial Bathrooms: 1
  • Full Bathrooms: 2
  • Total Bedroom Count: 6

Price Information

Listing Price Info

Price Summary:

  • List Price: $950,000

Tax Information:

  • Annual Amount: $5,579
  • 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

$400K

Med. Price/SqFt

$220

Avg. Days On Market

14

# of Sold Homes

30

492 Springfield Ave vs Newark

1 DAY ON ROCKET

-13 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: #24038454

Listing Office:

  • Office Name: Signature Realty NJ LLC
  • Office Phone: (973) 921-1111
  • Listing Agent: Claudia Brombauer

IDXDisclaimer: The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Rocket Homes Real Estate, LLC are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing Service, Inc. Copyright© 2024 New Jersey Multiple Listing Service, Inc. All rights reserved.

Rocket Homes Real Estate, 701 Griswold St, Suite 21, Detroit, MI 48226

Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 12/17/2024, 11:56:04 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Mar 09, 2018Home Sold
$160,000
Mar 14, 2006Home Sold
$417,000

Tax History

YEARPROP. TAXASSESSMENT
2020$5,579$218,500
2019$8,069$218,500
2018$7,779$218,500
2017$7,779$218,500

History based on county public records data.

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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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-4281051
2
/10

  • Harriet Tubman Elementary School

  • 504 S 10th St

  • 0.18 miles

  • Public District Grades PK-6

school-card-donut-4281052
2
/10

  • Grove Street Elementary School

  • 602 Grove St

  • 0.71 miles

  • Public District Grades PK-5

school-card-donut-4281053
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. Most 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, NJ and zip code 07103 in the West Ward neighborhood. Features: 6 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since December 16, 2024 and is currently priced at $950,000.

In November 2024, from all listings sold in Newark, NJ there were more than 22 sold above asking price, over 7 sold below and more than 1 were sold right at the asked price. The number of homes for sale in Newark, NJ increased by 13.5% between October 2024 and November 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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