6 months on rocket

319 Summer Ave, Newark City, NJ, 07104

$699,000

Home List Price

$8,301*

Closing Credit

11 Bedrooms
4 Full Baths
Multi
Schools Nearby

Location

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319 Summer Ave, Newark$699,000

Buyer Closing Credits

$8,301*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingOn-Street Parking
Year Built9999
HeatingNatural Gas
BasementYes
MLS #3868909
Lot Size0.06 Acres
StatusActive

About 319 Summer Ave

This property is a remarkable investment opportunity for savvy investors! Featuring a total of four units, this income-generating gem offers a diverse range of accommodation options. Each unit is set up with an eat-in kitchen, providing convenience and comfort for tenants. Additionally, all units also offer a living room to enjoy movie night. Unit one boasts 2 bedrooms, unit two offers an impressive 4 bedrooms, unit three provides 2 bedrooms, and unit four is equipped with 3 bedrooms, making a total of 11 bedrooms across the property. Currently, all tenants are on a month-to-month lease, presenting an excellent chance for strategic updates and enhancements to maximize the property's potential. The tenant responsibility for all utilities except water ensures a consistent cash flow for investors.Don't miss out on this golden opportunity to invest in a property with numerous possibilities and strong income potential.

Property Details

Property Features

Property Information:

  • Architectural Style: Fourplex
  • Year Built: 9999

Listing Office:

  • Office Name: COLDWELL BANKER REALTY
  • Office Phone: (973) 694-8000

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Full Bathrooms: 4
  • Total Bedroom Count: 11

Exterior Features

Exterior Information:

  • Exterior: Sidewalk

Parking Information:

  • Parking: On-Street Parking

Lot Features

Lot Information:

  • Lot: Level
  • Lot Size: 0.06 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas

School Info

Assigned Schools Information:

  • Technology High School, Public District Grades 9-12
  • Barringer High School, Public District Grades 9-12
  • Central High School, Public District Grades 9-12
  • Roberto Clemente Elementary School, Public District Grades PK-4

Other

Directions Information:

  • Directions: 2nd Ave to Summer Ave

Price Information

Listing Price Info

Price Summary:

  • List Price: $699,000
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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. List Price

$449.9K

Med. Price/SqFt

$234

Avg. Days On Market

97

# of Sold Homes

24

319 Summer Ave vs Newark

197 DAYS ON ROCKET

+100 Days

$699,000

+$249K More

KEY TAKEAWAY

This property is $249K more than the Median List Price in Newark, NJ.

Based on homes listed in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #3868909

Listing Office:

  • Office Name: COLDWELL BANKER REALTY
  • Office Phone: (973) 694-8000

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: 4/27/2024, 1:55:13 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

$3,556

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$2,162

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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-1066833
2
/10

  • Roberto Clemente Elementary School

  • 257 Summer Ave

  • 0.15 miles

  • Public District Grades PK-4

High School

school-card-donut-1066834
8
/10

  • Technology High School

  • 223 Broadway

  • 0.37 miles

  • Public District Grades 9-12

school-card-donut-1066835
1
/10

  • Barringer High School

  • 90 Parker St

  • 0.74 miles

  • Public District Grades 9-12

school-card-donut-1066836
1
/10

  • Central High School

  • 250 18th Ave

  • 2.59 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 $39,052. The most common annual income of people living in Newark, NJ is between $35k-100k. Residents typically live in single, no kids family. 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›07104›319 Summer Ave

This home is located at 319 Summer Ave in Newark City, NJ and zip code 07104 in the North Ward neighborhood. This home, which was built in 9999, sits on a 0.06 acre lot. Features: 11 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since October 12, 2023 and is currently priced at $699,000.

Between February 2024 and March 2024, Newark, NJ real estate market has seen increase in the number of listings by 31.1%. Listings spent 97 days on the market in March 2024, and had a median list price of $449,995 during the same period.

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

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