6th Ave W
Newark, NJ 07107

*Rental Value Coming Soon

Overview

This Multi-Family is located at 6th Ave W, Newark, NJ 07107. This listing is NOT an active listing. Updates to this listing have stopped. This listing may be off the market. No further information is available at this time. It has 2 Beds, 1 Bath.
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Status: Inactive

Listing ID: 59949502

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Learn about 6th Ave W in Newark, NJ

This multi-family property is available as a as-is deal at 6th Ave W. Based on our analysis of the current market conditions in Newark for 6th Ave W and comparable listings, the estimated market value is still being calculated. If purchased for rental purposes, this property might present an opportunity to make monthly rental income. The rental value will be updated on this listing soon. Factors considered in this calculation include the property location, condition, status, and convenience. Properties like this one located at 6th Ave W are updated daily along with others in Newark, New Jersey.

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for 6th Ave W in Newark New Jersey

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Property Information

Price: $349,000
Bedrooms: 2
Bathrooms: 1
Full Baths: 1
Lot Size: 0.06 acres
Source ID: 3835197
Day(s) On Site: 69
Property Type: Multi Family Dwelling

As-Is Deal

The property located at 6th Ave W in Newark, NJ is listed as a As-Is Deal

This is an inactive As-Is Deal listing located in Newark, New Jersey. Properties on static.foreclosure.com are typically available for deep discounts that can often reach 50 percent or more!
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First Steps to Buying a Real Estate Deal

Properties that are labeled as "Deals" can be structured in a variety of ways depending upon the condition of the property and its title, and depending upon your own motivation. These properties are not necessarily in a foreclosure, preforeclosure, bankruptcy, etc. and may just be available for sale by the current owner. For the handy person who knows construction and remodeling, purchasing a 'fixer upper' and bringing it up to standards offers terrific potential for profit. Likewise, ‘as is’ properties offer no guarantee as to the condition of the property or its title, but can represent a unique opportunity for the real estate investor willing to make the effort to identify any hidden flaws and factor that into the purchase.

You can shop for properties in the 'as is' category meaning there will be no negotiating the price conditioned upon known or unknown areas needing your attention. This goes for the condition not only of the structural or cosmetic aspects of the property, but also the condition of the title to the property which could have liens, encroachments, or easements. You should research the property carefully so that you can build the mitigation of these issues into your price.
When a property is advertised as a 'fixer upper' you can be certain that work will be needed to bring it up to livable or marketable standards. If you are not handy or knowledgeable about building design or construction, you will need to hire inspectors and contractors, so that you can plug cost estimates for repairs and upgrades into your overall pricing strategy.
Contact the listing broker or seller and ask for an appointment to see it. Do a complete walk through inside an outside so you can see for yourself what condition it is in. Drive around the area to make certain it is a community that is right for you.
Have a qualified appraiser or real estate professional supply a valuation. Money spent on a real estate appraisal in such circumstances is money well spent.
Have an attorney or title company search the title to the property noting any other liens, restrictions, or encumbrances that may exist.
Have your financing lined up so that you know you will be in a position to close when settlement time arrives.
Calculate the cost of repairs that you will have to make and present a reasonably adjusted offer to the listing broker or seller.

In each of these scenarios you still must perform your due diligence. Search for the property that suits you. Make a visual inspection of the property and neighborhood. Contact the person or entity that controls the property: Realtor, property owner, lender, or court appointed receiver. In your offer include all the conditions you need to protect yourself including inspections, appraisal, title search, responsibility for repairs, and satisfactory financing. Read and understand the appraisal, inspection reports, and title report. These items affect your bottom line when the transaction is completed.

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