Based on my analysis of NJMLS listings with DOM 0-1 (excluding previously analyzed properties), I found 7 qualifying properties from today's new inventory.
Today's holiday-week inventory reveals aggressive seller pricing across Newark, East Orange, Lyndhurst, and Paterson—all seven properties show negative to barely-positive cash flow for traditional investors. However, Newark's 117 12th Street stands out as the only turnkey option, while East Orange's Brookwood Avenue offers South Orange border proximity./divider
🎯 TOP OPPORTUNITY
🏆 #1: NEWARK — 3 Units — $799,000
117 12th Street | MLS# 25043755 | DOM: 1
The Setup Fully renovated 3-family with 9 bedrooms total (three 3BR/1.5BA units), all vacant and move-in ready. Showcases refinished hardwood floors, prominent bay-window facade, separate utilities including water. Fenced front yard, multi-zone gas heat. Close to transportation, parks, and schools.
The Numbers/Asking: $799,000 Units: 3 $/Unit: $266,333 Year Built: 1900-1939 Lot Size: 2,409 SF Taxes: $6,309/yr Est. Monthly Rent: $6,450 Est. Annual Gross: $77,400 GRM: 10.3 NOI (45% expenses): $42,570 Cap Rate: 5.3% Cash-on-Cash (25% down, 6%): 0.3%
The Angle Turnkey asset with renovation already complete—stainless appliances, refinished floors, neutral walls. At $2,150/unit, achievable given condition. Separate water meters is rare and valuable for cost recovery. Quick possession 0-30 days means immediate rent-up potential.
The Risk Premium price for Newark at $266K/door. Cap rate at 5.3% is thin but breakeven on cash-on-cash. Needs full lease-up, which takes 60-90 days even in strong market. No income during transition.
The Play BUY at $750K or below. Best-in-class condition among the Newark portfolio. If seller needs to move quickly (quick possession suggests motivation), this could hit at $775K and pencil positively.
📊 WATCH LIST
#2: EAST ORANGE — 2 Units — $589,000
132 NE Brookwood Avenue | MLS# 25043797 | DOM: 1
The Setup 2-family near South Orange border with tenant-occupied 3BR unit at $1,800/mo and vacant 4BR unit. Newer roof, updated siding, hardwood floors installed. Partially finished basement with laundry. Fenced backyard, 8 parking spaces.
The Numbers Asking: $589,000 | Units: 2 | $/Unit: $294,500 | Taxes: $9,545/yr | Est. Monthly Rent: $4,100 | Cap Rate: 4.6% | Cash-on-Cash: -6.2%
The Angle South Orange border location is prime—better schools, safer streets, stronger tenant pool. Current 3BR tenant at $1,800 is below market ($2,200-$2,400 achievable). Vacant 4BR could command $2,400-$2,600. Systems updated (roof, siding) reduces capex risk.
Verdict: WATCH — Worth pursuing at $525-540K. South Orange border location carries premium but current ask overshoots. Best location profile of the group.
⛔ PASS LIST
#3: NEWARK — 3 Units — $750,000 (102 S 12th Street) 3-family, fully vacant except basement at $1,850/mo. Cap Rate: 4.9% | CoC: -2.4% Verdict: PASS at ask—needs $650-700K to pencil.
#4: NEWARK — 3 Units — $750,000 (151 Vermont Avenue) Two units occupied at $1,427 and $1,828. Cap Rate: 4.8% | CoC: -3.0% Verdict: WATCH if drops to $675K range.
#5: LYNDHURST — 2 Units — $679,000 (230 New Street) Basement unit needs full renovation, water issues noted. Cap Rate: 3.8% | CoC: -8.9% Verdict: PASS — Taxes at $13,496 destroy returns.
#6: PATERSON — 2 Units — $625,000 (39 Thomas Street) Both units vacant. Cap Rate: 4.1% | CoC: -7.8% Verdict: PASS at ask. Watch if drops to $575K.
#7: EAST ORANGE — 2 Units — $749,000 (189 Oraton Parkway) 13 bedrooms/6 baths across two units. Cap Rate: 5.3% | CoC: -0.5% Verdict: PASS — Verify legal unit count before considering.
🎬 TODAY'S MARKET SNAPSHOT
Today's holiday-week inventory (7 DOM 0-1 listings) reveals a market where sellers haven't adjusted to interest rate reality—all properties show negative to barely-positive cash flow for traditional investors putting 25% down at 6% rates.
The standout insight: Newark's 117 12th Street is the only turnkey option worth pursuing, but needs a $50K price reduction to hit investor-grade returns. East Orange's Brookwood Avenue offers South Orange border premium but requires similar price discovery.
Market remains seller-favorable with compressed cap rates (4-5% range) across all submarkets. Patient capital wins—wait for motivated sellers or distressed opportunities rather than chasing overpriced stabilized assets.