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Backup Offers

874 S 16th St, Newark City, NJ, 07108

$555,000

Home List Price

$6,591*

Closing Credit

7 Bedrooms
5 Full Baths
Multi

Location

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874 S 16th St, Newark$555,000

Buyer Closing Credits

$6,591*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
Parking1 Car Width, Driveway-Shared, On-Street Parking
Year Built1906
HeatingNatural Gas
CoolingNone
BasementYes
MLS #3933690
Lot Size0.07 Acres
StatusAccepting Backup Offers
(Under Contract Cont. to Show)

About 874 S 16th St

Are you looking for an incredible investment opportunity or a multi-family home with income potential? Look no further! This well-maintained, 3-family property in the heart of Newark offers the perfect balance of convenience, space, and value. Whether you're an investor or looking to live in one unit while renting out the others, this property has endless possibilities. Property Features:3 separate, spacious units with great layouts- Large living rooms, well-sized bedrooms, and plenty of closet space. Fully equipped kitchens with modern appliances, separate utilities for each unit ? easy management and cost savings. Shared driveway with 2 car garage, plus off-street parking with ample space. Well-kept interior & exterior with a welcoming front porch. Easy access to major highways, including I-78, NJ Turnpike, and Garden State Parkway. This property offers strong rental potential, with steady demand for quality rental units in the area. Whether you're expanding your real estate portfolio or looking for a new place to call home, this is an opportunity you don't want to miss!

Property Details

Property Features

Property Information:

  • Architectural Style: 3-Three Story
  • Year Built: 1906

Listing Office:

  • Office Name: JEANIUS REALTY
  • Office Phone: (908) 349-8770

Interior Features

Interior Information:

  • Appliances: Refrigerator
  • Basement: Yes

Bedroom and Bathroom Information:

  • Full Bathrooms: 5
  • Total Bedroom Count: 7

Exterior Features

Parking Information:

  • Parking: 1 Car Width, Driveway-Shared, On-Street Parking

Lot Features

Lot Information:

  • Lot Size: 0.07 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas
  • Cooling: None

Other

Directions Information:

  • Directions: South Orange Avenue, to S17th to S18th.

Price Information

Listing Price Info

Price Summary:

  • List Price: $555,000
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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

$396.1K

Med. Price/SqFt

$204

Avg. Days On Market

75

# of Sold Homes

34

874 S 16th St vs Newark

12 DAYS ON ROCKET

-63 Days

$555,000

+$158.8K More

KEY TAKEAWAY

This property is $158.8K more than the Median Sold Price in Newark, NJ.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #3933690

Listing Office:

  • Office Name: JEANIUS REALTY
  • Office Phone: (908) 349-8770

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: 11/22/2024, 12:55:46 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

$2,837

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,730

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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-540955
4
/10

  • Thurgood Marshall Elementary School

  • 141 Montgomery Ave # 181

  • 0.33 miles

  • Public District Grades PK-5

school-card-donut-540956
3
/10

  • Berkeley Terrace Elementary School

  • 787 Grove St

  • 0.55 miles

  • Public District Grades PK-5

school-card-donut-540957
2
/10

  • Grove Street Elementary School

  • 602 Grove St

  • 0.82 miles

  • Public District Grades PK-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $27,391. Residents of Newark, NJ typically earn less than $35k each year. The most common type of family is single, no kids. The most common level of education of people living in this area is high school diploma.

All data provided by Home Junction and Claritas

Rocket Homes›New Jersey›Essex County›Newark›07108›874 S 16th St

This home is located at 874 S 16th St in Newark City, NJ and zip code 07108 in the South Ward neighborhood. This home, which was built in 1906, sits on a 0.07 acre lot. Features: 7 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since November 10, 2024 and is currently priced at $555,000.

While more than 24 listings in Newark, NJ in October 2024 were sold above asking price, there were more than 3 listings sold at asking price, and more than 7 were sold below. The number of homes for sale in Newark, NJ increased by 25.4% between September 2024 and October 2024. While the average time on the market in October 2024 was 75 days, the median list price was $396,125.

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

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