Seller's Agent in 2024
Brendan Da Silva
Keller Williams Realty - NJ Metro Group
(201) 926-1190
19 in this area
302 Total Sales
316 16th Ave Newark, NJ 07103
West Side NeighborhoodEstimated Value: $561,000 - $726,069
8
Beds
5
Baths
--
Sq Ft
2,500
Sq Ft Lot
About This Home
As of May 2024Welcome to 316 16th Ave, Newark, NJ 07103 is an excellent investment opportunity in the University section of Newark. This new construction-style home offers modern amenities and a prime location, with 8 bedrooms, 5 bathrooms, and a bonus ground level. It also features a 1-car garage, providing ample parking options. The property is being sold with tenants in place, offering a lucrative opportunity for investors. The University section of Newark offers the amenities and vibrancy of city living, with easy access to educational and cultural institutions. The property is currently livable but requires some work, offering an opportunity for improvement and value appreciation. This rare investor special presents a rare opportunity to invest in one of Newark's most sought-after areas, offering a property with great potential and the convenience of being near transportation and the University section of the city.Come turn this house into your home before someone else does!!
Last Agent to Sell the Property
Keller Williams Realty - NJ Metro Group Listed on: 02/07/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $8,293
Lot Details
- 2,500
Parking
- 1 Car Garage
Home Design
Bedrooms and Bathrooms
- 8 Bedrooms
- 5 Full Bathrooms
Additional Features
- Laundry in Basement
- 2,500 Sq Ft Lot
Listing and Financial Details
- Legal Lot and Block 00006 / 00339
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 7, 2024
Closed on
Mar 15, 2024
Sold by
Samake Yacouba and Ndiaye Sadio
Bought by
Olawepo Rasheed Akono and Adeoye Kuburat Bola
Seller's Agent
Brendan Da Silva
Keller Williams Realty - NJ Metro Group
Buyer's Agent
Christopher Lugo-Marrero
Keller Williams Realty - NJ Metro Group
List Price
$525,000
Sold Price
$550,000
Premium/Discount to List
$25,000
4.76%
Views
1106
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$69,017
Avg. Annual Appreciation
8.94%
Original Mortgage
$539,275
Interest Rate
6.87%
Mortgage Type
FHA
Purchase Details
Closed on
Aug 15, 2012
Sold by
Cts Financial Llc
Bought by
Samake Yacouba and Ndiaye Sadio
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$114,750
Interest Rate
3.59%
Mortgage Type
New Conventional
Purchase Details
Closed on
Nov 15, 2011
Sold by
Kone Souleymane
Bought by
Cts Financial Llc
Purchase Details
Closed on
Jul 12, 2007
Sold by
Ajiboye Christiana
Bought by
Kone Souleymane
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$66,000
Interest Rate
6.25%
Mortgage Type
Stand Alone Second
Purchase Details
Closed on
Mar 14, 2005
Sold by
Agbim Mathias
Bought by
Ajiboye Christiana
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$327,750
Interest Rate
7.3%
Mortgage Type
Adjustable Rate Mortgage/ARM
Purchase Details
Closed on
Aug 25, 2004
Sold by
Fe Din Inc
Bought by
Vanegas Manuel Humberto
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,000
Interest Rate
5.64%
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Olawepo Rasheed Akono | $525,000 | Old Republic National Title | |
| Olawepo Rasheed Akono | $525,000 | Old Republic National Title | |
| Samake Yacouba | $153,000 | First American Title Ins Co | |
| Cts Financial Llc | $115,000 | None Available | |
| Kone Souleymane | $440,000 | None Available | |
| Ajiboye Christiana | $345,000 | -- | |
| Vanegas Manuel Humberto | $160,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Olawepo Rasheed Akono | $539,275 | |
| Previous Owner | Samake Yacouba | $114,750 | |
| Previous Owner | Kone Souleymane | $66,000 | |
| Previous Owner | Kone Souleymane | $352,000 | |
| Previous Owner | Agbim Mathias | $279,000 | |
| Previous Owner | Ajiboye Christiana | $327,750 | |
| Previous Owner | Vanegas Manuel Humberto | $140,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/01/2024 05/01/24 | Sold | $550,000 | +4.8% | -- |
| 03/04/2024 03/04/24 | Pending | -- | -- | -- |
| 02/07/2024 02/07/24 | For Sale | $525,000 | -- | -- |
Source: New Jersey MLS
Tax History Compared to Growth
Tax History
| 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 |
|---|---|---|---|---|
| 2025 | $8,276 | $222,000 | $31,300 | $190,700 |
| 2024 | $8,276 | $222,000 | $31,300 | $190,700 |
| 2022 | $8,294 | $222,000 | $31,300 | $190,700 |
| 2021 | $8,289 | $222,000 | $31,300 | $190,700 |
| 2020 | $8,436 | $222,000 | $31,300 | $190,700 |
| 2019 | $8,349 | $222,000 | $31,300 | $190,700 |
| 2018 | $8,198 | $222,000 | $31,300 | $190,700 |
| 2017 | $7,903 | $222,000 | $31,300 | $190,700 |
| 2016 | $7,637 | $222,000 | $31,300 | $190,700 |
| 2015 | $7,346 | $222,000 | $31,300 | $190,700 |
| 2014 | $6,884 | $222,000 | $31,300 | $190,700 |
Source: Public Records
Agents Affiliated with this Home
-
Brendan Da Silva
-
Christopher Lugo-Marrero
C
Buyer's Agent in 2024
Christopher Lugo-Marrero
Keller Williams Realty - NJ Metro Group
(973) 783-7400
2 in this area
16 Total Sales
Map
Source: New Jersey MLS
MLS Number: 24003848
APN: 14-00339-0000-00006
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Ten-X are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.
All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing, Inc.
© 2025 New Jersey Multiple Listing Service Inc. All rights reserved.
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