86 Chancellor, Newark City, NJ 07112

$330,000 Asking Price

3 beds
Built in 1940

Welcome to this beautiful ranch style single-family home that presents an exceptional investment opportunity! Located near Weequahic Park, this residence boasts with potential 3/4 bedrooms, 2.5-3 bathrooms, spread over 2 floors including the basement. This property offers endless possibilities for customization and enhancement with low taxes and a prime location. Upon entry, you'll be greeted by an inviting open-plan concept. The first floor features a spacious master bedroom with an the opportunity to create an additional 2/3 bedrooms. Estimated rehab work is $125k-$150k The current owners lender estimated after-repair value of $500K+. A renovated basement adds further value, providing additional recreational space and elevating the after-repair value. Located near all modes of public transportation and just minutes from NJ Turnpike, providing an easy commute to NY. Direct end buyers only; no wholesalers pls.

Features & Amenities

Interior

Kitchen:
See Remarks
Appliances:
See Remarks
Basement:
Unfinished
A/C:
None
Heating:
1 Unit, Gas-Natural
Fireplace:
Fireplaces: 0

Exterior

General:
Brick
Style:
Ranch

Construction

Roofing:
Asphalt Shingle

Location

County:
Essex

Lot

Driveway:
None
Zoning:
RES-1, 1614-03690-0000-00010-0000-

Utilities

Utilities:
Electric
Water:
Public Water
Sewer:
Public Sewer

This listing courtesy of:
EXP REALTY, LLC

About Newark, NJ

Housing

Number of Units
118,077
Median Home Value
$265,182
Median Rent
$950

77.07% of housing units are renter occupied.

7.98% are vacant.

Commute

Car
57.07%
Public Transportation
23.37%
Walk to Work
5.03%
Work from Home
9.54%
Other
4.78%

The median travel time to work is 33 minutes.

People

Population
301,767
Median Age
34.80
Median Household Size
2.65

Education

High School
36.16%
Associate’s Degree
5.90%
Bachelor’s Degree
11.53%
Graduate Degree
4.80%

Disclaimer: Community and Demographic information uses data from the U.S. Census Bureau but is not endorsed or certified by the Census Bureau.

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