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    31 Read St Newark, NJ 07105

    For Sale
    $650,000

    Legal two-family home with potential for improvements and tenant income.

    Lot size:
    0.05 Acres

    Property Features for 31 Read St

    General Information

    Lot size
    0.05 Acres

    Building Details

    Year built
    1900

    Source: C-21 SEMIAO AND ASSOCIATES Agent DIVA B DASILVA

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Well-Maintained Legal Two-Family Newark Home

    This well-maintained legal two-family property presents an opportunity for improvement. The first-floor apartment features 3 bedrooms and 1.5 bathrooms. The second-floor apartment includes 3 bedrooms, an office, and 1 bathroom. A third-floor apartment contains 1 bedroom and 1 bathroom. The full finished basement provides additional space for tenants, with 2 kitchens and a full bath. The property includes a well-maintained yard with a shed. Tenants are currently on month-to-month lease terms. According to Newark zoning, this is a legal two-family dwelling, although city tax records indicate it was previously a three-family dwelling. The property is sold as is.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.149123
    Latitude
    40.7315602

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    FAQs

    What type of property is this?
    Duplex - Legal two-family home with potential for improvements and tenant income.
    Where is this duplex located?
    The property is located at 31 Read St Newark, NJ.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: - Legal 2-family dwelling (potentially convertible back to 3-family with zoning considerations).; - Full finished basement with 2 kitchens and a full bath, offering additional tenant space.; - Well-maintained property, indicating pride of ownership.
    (201) 460-8000
    Request Owner's contact information
    31 Read St Newark, NJ 07105
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    Newark, NJ 07105
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    31 Read St Newark, NJ 07105
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