Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    384-386 4th W Ave, Unit 386 Newark, NJ 07107-1753
    Back to Search
    Property profile & analytics

    384-386 4th W Ave, Unit 386, Newark, NJ 07107-1753

    View on Map
    • Residential income homes
    • 0.11 lot acres
    Off-Market
    Property ID
    US59-1502228
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 384-386 4th W Ave

    Construction
    BRICK
    Lot size
    0.11 lot acres
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    14 01936-0000-00072
    APU
    1401936000000072

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 26, 2018 $750,000 384 4th Ave LLC Nelly Rodriguez Deed —
    Nov 26, 2018 — Nelly Rodriguez Cruz,nicholas & Nicholas JR Grant Deed · related —
    Oct 5, 2010 — Nelly Rodriguez Cruz,nicolas Quit Claim Deed · related —
    Jun 12, 2008 — Nicolas Cruz Espaillat,franklin Quit Claim Deed · related —
    May 21, 2007 — Franklin Espaillat Herrick,gerald S Quit Claim Deed · related —
    — — 384 4th Ave LLC — Deed Of Trust · related $563k · Boiling Sprgs Svcs Bk

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1871
    Latitude
    40.7615
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $14,010
    $120,000
    $255,000
    $375,000
    -
    $120,000
    $255,000
    $375,000

    Comparable in this City

    • Value Estimation by Request
      0.08 Acres

      62 Davenport Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      62 Davenport Ave, Newark, NJ 07107
      View Details
    • Value Estimation
      $680,000
      3,840 SF

      375 11th St

      APARTMENT HOUSE (UNDER 5 UNITS)
      375 11th St, Newark, NJ 07107-1835
      View Details
    • Value Estimation by Request
      0.06 Acres

      136-138 12th Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      136-138 12th Ave, Newark, NJ 07107-3043
      View Details
    • Value Estimation by Request
      0.07 Acres

      529-531 4th St, Unit 531

      APARTMENT HOUSE (UNDER 5 UNITS)
      529-531 4th St, Newark, NJ 07107-2415
      View Details
    • Value Estimation by Request
      0.09 Acres

      605 5th St

      APARTMENT HOUSE (UNDER 5 UNITS)
      605 5th St, Newark, NJ 07107-2663
      View Details
    • Value Estimation
      $525,000
      0.08 Acres

      646-648 6th St

      APARTMENT HOUSE (UNDER 5 UNITS)
      646-648 6th St, Newark, NJ 07107
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Spacious Top-Floor Newark Condominium

      Well-maintained two-bedroom condo near Branch Brook Park.
      776 N 6Th St, Newark, NJ 07107
      View Details
    • $599,000
      Pending

      Newark Multi-Family Investment Opportunity

      Spacious multi-family property in Newark with strong rental potential.
      323 N 7Th St, Newark, NJ 07107
      View Details
    • $2,500,000
      Pending

      Eleven-Unit Apartment Building Investment

      Eleven-unit apartment building with development potential in North Newark.
      577 N 6Th St, Newark, NJ 07107
      View Details
    • $2,500,000
      12,000 SF

      Eleven-Unit Apartment Building For Sale

      Investment opportunity: 11-unit apartment building with development potential.
      577 N 6Th St, Newark, NJ 07107
      View Details
    • $350,000
      5,500 SF

      Newark Mixed-Use Redevelopment Opportunity

      Mixed-use building in Newark's Fairmount neighborhood, ready for repositioning.
      524 Central Ave, Newark, NJ 07107
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr

      North Newark Apartment with Balcony

      Spacious 3-bedroom apartment with modern amenities and private balcony.
      175 N 7Th St, Newark, NJ 07107
      View Details
    • $12 SF/Yr

      Renovated Apartment in Upper Roseville

      Renovated 2BR/1BA apartment with modern finishes and convenient location.
      586 N 11Th St, Newark, NJ 07107
      View Details
    • Contact for pricing

      New Construction Three-Bedroom Apartment

      New construction 3-bedroom apartment with modern amenities for rent.
      216 12Th Ave, Newark, NJ 07107
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    384-386 4th W Ave, Unit 386
    Newark, NJ 07107-1753
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    384-386 4th W Ave, Newark, NJ, 07107
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!