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Newark 07105 North Ironbound
7 Downing Street
$385,000
● House - Off Market

7 Downing Street

Newark, NJ 07105
bedrooms
3 Beds
bathrooms
1 Bath
square feet
844 Ft²
$377,832
RealtyHop Estimate
-0.04%
Since Nov 1, 2023
NY-New York
Primary Model

About This Property

New beginnings start in this charming 3-bedroom, 1-bathroom house located in the Ironbound neighborhood. A well-designed layout that maximizes space and functionality. The partially finished basement, offers additional living space that can be customized to your preferences - whether you envision a home office, entertainment room, or a gym, the possibilities are endless. Close proximity to restaurants, shopping, PATH  train, NJ Transit, Red Bull Arena & the Prudential Center. Call today, don't miss your chance to make this your new home!
Unit Size
844 Ft²
Days on Market
-
Land Size
0.02 acres
Price per sqft
$448
Property Type
House
Property Taxes
$293
HOA Dues
-
Year Built
1917

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 3 years ago (MOMLS #22321160)

Price History

Date / Event Date Event Price
Oct 12, 2023 Sold
Premium
Sold
Aug 2, 2023 Listed by RE/MAX New Beginnings Realty-Toms River $377,999
Listed by RE/MAX New Beginnings Realty-Toms River
Aug 14, 2020 No longer available -
No longer available
Jul 21, 2020 Price Decreased $234,900
↓ $12K (4.9%)
Price Decreased
Jul 16, 2020 Relisted $247,000
Relisted
Show More

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1917
  • Effective Year Built: 1917
  • Bedroom Count: 0
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 0
  • Exterior Walls Type: 0
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • Roof Cover Type: 0
  • Floor Count: 200
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 736
  • Lot Size Depth Feet: 350
  • Lot Size Frontage Feet: 210
  • Total Building Area: 844
  • Building Area: 844
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 0
  • Heated Square Feet: 844
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000017
  • Standard Land Use Code: 1001
  • County Land Use Code: 2

Neighborhood

  • School District Name: Newark City School District
  • Census Tract: 007900

Geography

  • Assessors Map Reference: TAX MAP 53
  • District: 14
  • Parcel: 14 00174-0000-00023
  • Block: 174
  • Lot: 23
  • Municipality: NEWARK CITY
  • Latitude: 40.7313
  • Longitude: -74.1596

    Address

  • Full Address: 7 Downing St
  • Address - House Number: 7
  • Address - Street Name: Downing
  • Address - Suffix Type: St
  • State: NJ
  • City Name: Newark
  • Carrier Code: C054
  • 4-Digit Zip Code: 2205
  • Zip Code: 07105

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $351,558

    Appraisal Valuation

  • Standard Deviation: 0.1065
  • Valuation Date: Nov 29, 2023
  • Confidence Score: 89
  • Final Value: 396,476
  • High Value: 438,719
  • Low Value: 354,234

    Market Valuation

  • Market Total Value: $94,100
  • Market Land Value: $34,300
  • Market Improvement Value: $59,800

    Assessments Valuation

  • Assessed Year: 2022
  • Assessed Total Value: $94,100
  • Assessed Land Value: $34,300
  • Assessed Improvements Value: $59,800

    Sales

  • Current Sale Contract Date: Oct 12, 2023
  • Current Sale Recording Date: Oct 30, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Current Sale Input Document Number: 65143
  • Previous Sale Recording Date: Oct 29, 2020
  • Previous Sale Contract Date: Oct 13, 2020
  • Previous Sale Amount: $195,000
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About North Ironbound

Stats & Trends

Median Asking:

$549,999

Sale Price/ft²

$299

Below Asking

0.02%

Average Days on Market

86

Average Home Size

503 ft²

Average Home Age

-

Currently For Sale

55 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 44 1/2 3rd, Newark, NJ, 07107

$2,600 /mo

  • 3 Beds
  • 2 Baths
44 1/2 3rd, Newark, NJ, 07107 Listing by Corey Jones
Unit for rent at 448 - 452 Orange, Newark, NJ, 07103

$2,400 /mo

  • 2 Beds
  • 1 Bath
448 - 452 Orange, Newark, NJ, 07103 Listing by Grisela Flores

Rentals Near You

Click here to view more rentals in the neighborhood.
MOMMLS

Listed by: Christopher Acevedo, RE/MAX New Beginnings Realty-Toms River
Last Updated: 3 years ago
Data Source: MOMMLS, MLS# 22321160
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.

Frequently Asked Questions

When was property at 7 Downing Street built and last sold?
The property at 7 Downing Street was built in 1917 and last sold on Oct 12, 2023 for $385,000.
How much is this home worth?
The estimated value of the home located at 7 Downing Street is $0.
What are some comparable homes to 7 Downing Street?
There are currently no comparable homes to 7 Downing Street.
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