NOT LISTED FOR SALE

131 Fairmount Ave Newark, NJ 07103

Fairmount Neighborhood

Estimated Value: $548,000 - $604,164

Studio
-- Bath
3,438 Sq Ft
$169/Sq Ft Est. Value

Sale Details

Date Sold: July 8, 2024

Last sale price $525,000 $153 Per Sq Ft

Est. 10% increase in value since last sale

Current estimated payment $3,775 / mo

38 Days on Market

Highlights

  • Accessibility Features
  • Carpet
  • Radiator
  • Utility Room

About This Home

As of July 2024

Don't miss out on this large 3 family home with serious investment potential! All 3 apartments are 2 bedroom 1 bath units that offer ample and versatile living spaces including an eat-in kitchen, dining / living room (can be converted to 3rd bedroom), pantry, and porch. Separate utilities, owners only pays water and common area lights. Once renovated, this property could yield substantial rental income! This is a unique opportunity for investors to capitalize on a high-demand area. Property is being sold in strictly as-is condition. Buyer is responsible for c/o and fire certificates. Cash offers preferred.

Last Agent to Sell the Property

Jeremy Faberlle

EXP REALTY, LLC Listed on: 01/26/2024

EXP REALTY, LLC

Co-Listed By

Silvio Lavrador

RE/MAX SELECT MAPLEWOOD

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,009

Year Built

  • Built in 1900

Lot Details

  • 2,500 Sq Ft Lot
  • Lot Dimensions are 100.00 x 25.00

Parking

  • On-Street Parking

Home Design

  • Asphalt Roof

Interior Spaces

  • 3,438 Sq Ft Home
  • 3-Story Property
  • Utility Room
  • Carpet
  • Basement Fills Entire Space Under The House

Accessible Home Design

  • Accessibility Features

Utilities

  • No Cooling
  • Radiator
  • Gas Water Heater

Community Details

  • 4 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter

Listing and Financial Details

  • The owner pays for unit 1 owner pays(see remarks), unit 2 owner pays(see remarks), unit 3 owner pays(see remarks)

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,009

Year Built

Built in 1900

Lot Details

2,500 Sq Ft Lot

Listing Details

  • Property Sub Type: 3 Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 0.0574
  • Lot Size: 100.00 x 25.00
  • Co List Office Mls Id: REPR09
  • Ownership: Fee Simple
  • Carport Y N: No
  • Garage Yn: No
  • Building Stories: 3
  • Year Built: 1900
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Stories: 3

Interior Features

  • Appliances: Water Heater(Gas), Unit 1(Range/Oven,Refrigerator), Unit 2(Range/Oven,Refrigerator)
  • Owner Pays: Unit 1 Owner Pays(See Remarks), Unit 2 Owner Pays(See Remarks), Unit 3 Owner Pays(See Remarks)
  • Accessibility Features: Unit 1 Accessibility Features, Unit 2 Accessibility Features, Unit 3 Accessibility Features
  • Has Basement: Full, Utility Room
  • Flooring: Unit 1 Carpet, Unit 2 Carpet, Unit 3 Carpet
  • Interior Amenities: Unit 1(2 Bedrooms,Kitchen,1 Bath,Living Room,Den/Family Room), Unit 2(2 Bedrooms,Kitchen,1 Bath,Living Room,Den/Family Room), Unit 3(2 Bedrooms,1 Bath,Den/Family Room)
  • Living Area: 3438
  • Stories: 3

Exterior Features

  • Lot Features: See Remarks
  • Roof: Asphalt

Garage/Parking

  • Parking Features: On Street

Utilities

  • Gas Company: Natural Gas
  • Cooling: None
  • Heating: Radiators-Steam
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Natural Gas Connected
  • Water Source: Public

Lot Info

  • Lot Size Sq Ft: 2500

Rental Info

  • Lease Term: Unit 1(Month-Month),Unit 2(Month-Month)

Tax Info

  • Tax Annual Amount: 7009
  • Tax Year: 2021

Multi Family

  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 26, 2024
Closed on
Jun 19, 2024
Sold by
Bought by
Seller's Agent
Jeremy Faberlle
EXP REALTY, LLC
List Price
$525,000
Sold Price
$525,000
Views
64
Current Estimated Value
$579,541

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$54,541
Avg. Annual Appreciation
5.01%
Original Mortgage
$472,500
Interest Rate
6.73%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 24, 2006
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$286,900
Interest Rate
6.79%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 23, 2006
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$23,500
Interest Rate
6.16%
Mortgage Type
Stand Alone Second
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$525,000 Westcor Land Title
$302,000 --
$235,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $472,500
Previous Owner $286,900
Previous Owner $23,500
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
07/08/2024 07/08/24 Sold $525,000 0.0% $153 / Sq Ft
01/26/2024 01/26/24 For Sale $525,000 -- $153 / Sq Ft
Source: All Jersey MLS

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2026 $7,506 $187,700 $26,300 $161,400
2025 $7,506 $187,700 $26,300 $161,400
2024 $6,997 $187,700 $26,300 $161,400
2022 $7,012 $187,700 $26,300 $161,400
2021 $7,009 $187,700 $26,300 $161,400
2020 $7,133 $187,700 $26,300 $161,400
2019 $7,059 $187,700 $26,300 $161,400
2018 $6,932 $187,700 $26,300 $161,400
2017 $6,682 $187,700 $26,300 $161,400
2016 $6,457 $187,700 $26,300 $161,400
2015 $6,211 $187,700 $26,300 $161,400
2014 $5,821 $187,700 $26,300 $161,400
Source: Public Records

Agents Affiliated with this Home

  • Jeremy Faberlle

    Seller's Agent in 2024

    Jeremy Faberlle

    EXP REALTY, LLC

    (732) 288-4619

    1 in this area

    21 Total Sales

    Jeremy Faberlle
    Section Image
  • Silvio Lavrador

    Seller Co-Listing Agent in 2024

    Silvio Lavrador

    RE/MAX SELECT MAPLEWOOD

    (908) 591-1433

    9 in this area

    68 Total Sales

    Silvio Lavrador
    Section Image
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Map

Source: All Jersey MLS

MLS Number: 2407550R

All Jersey MLS

APN: 14-00258-0000-00029

New Jersey Essex County Newark 07103 Fairmount

131 Fairmount Ave, Newark, NJ

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