NOT LISTED FOR SALE

40-42 Silver St Newark, NJ 07106

Lower Vailsburg Neighborhood

Estimated Value: $525,000 - $776,000

8 Beds
3 Baths
-- Sq Ft
1,760 Sq Ft Lot

Last Sold August 14, 2024

Last sale price $620,000

Est. 2% increase in value since last sale

Current estimated payment $3,892/month

65 Days on Market

About This Home

As of August 2024

This is a very rare find: a very large, VACANT 2 family home in the desirable Vailsburg section of Newark! The great layout, plenty of big windows, and tall ceilings are just some of the unique details of this home. Unit 1 includes living / dining room, renovated kitchen with new cabinets, appliances, and quartz countertop. The 2nd floor is a giant 2 floor duplex unit that includes not only the same expansive living / dining and kitchen layout as the first floor, but also offers 5 bedrooms and 2 full renovated baths. The basement is cleaned and painted and has multiple laundry hookups ready to go. Other updates include new plumbing, separate forced air heat, and new retaining wall on the side and front of property. This property has tremendous rental income potential due to it's large apartments and amenities like forced air heat and on site laundry, making it a great opportunity for both investor and owner occupant.

Last Agent to Sell the Property

Silvio Lavrador

RE/MAX SELECT - Montclair Listed on: 05/06/2024

RE/MAX SELECT - Montclair

Last Buyer's Agent

Alex Ruiz

Ruiz Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,271

Lot Details

  • 1,760 Sq Ft Lot

Home Design

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 3 Full Bathrooms

Listing and Financial Details

  • Legal Lot and Block 00003 / 04109

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,271

Lot Details

0

Listing Details

  • Property Type: 2-4 Family
  • Su Prop: 2-4 Family
  • ResoLaundryFeatures: Hook Ups
  • Co List Office Phone: (973) 739-8008
  • MLS Status: Sold - Sold
  • Directions: Sanford ave going north, right on Silver st.
  • Architectural Style: 2 Family
  • Year Built Details: Pre 1900,Build Prior to 1978
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Full Bathrooms: 3
  • Total Bedrooms: 8

Exterior Features

  • Disclosures: Seller's Agent, Seller Disclosure - No

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Sep Heat

Lot Info

  • Lot Size Sq Ft: 1760.0

Tax Info

  • Tax Annual Amount: 5271.0
  • Tax Block: 04109
  • Tax Lot: 00003

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 6, 2024
Closed on
Aug 7, 2024
Sold by
Cmrb Properties Iii Llc
Bought by
40-42 Silver St Llc
Seller's Agent
Silvio Lavrador
RE/MAX SELECT - Montclair
Buyer's Agent
Alex Ruiz
Ruiz Realty
List Price
$589,900
Sold Price
$620,000
Premium/Discount to List
$30,100
5.1%
Views
29
Current Estimated Value
$633,653

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$13,653
Avg. Annual Appreciation
2.20%
Original Mortgage
$500,000
Outstanding Balance
$495,258
Interest Rate
6.89%
Mortgage Type
New Conventional
Estimated Equity
$138,395

Purchase Details

Closed on
Oct 27, 2020
Sold by
Harness Homes Borrower Iii Llc
Bought by
Cmrb Properties Iii Llc

Purchase Details

Closed on
Aug 25, 2016
Sold by
Citimortgage Inc
Bought by
Harness Home Group Llc

Purchase Details

Closed on
Sep 26, 2008
Sold by
Zahir Keyied
Bought by
Gillespie Selmico D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$289,275
Interest Rate
6.41%
Mortgage Type
FHA

Purchase Details

Closed on
Jul 31, 2006
Sold by
Zahiratu Zul Latifatu
Bought by
Zahir Kcyied

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$164,000
Interest Rate
8%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Feb 28, 2001
Sold by
Russo & Petti Llc
Bought by
Zahir Zul Latifatu and Dozier Curtis

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$124,337
Interest Rate
7.15%
Mortgage Type
FHA

Purchase Details

Closed on
May 17, 2000
Sold by
Contimortgage Corp
Bought by
Russo & Petti Llc

Purchase Details

Closed on
Apr 3, 1988
Sold by
Fenelus St Verdieu
Bought by
Prudent Emmanuel
Source: Public Records

Range of Values:

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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

Date Buyer Sale Price Title Company
40-42 Silver St Llc $625,000 Old Republic National Title
Cmrb Properties Iii Llc -- Os National Resware
Harness Home Group Llc $47,500 None Available
Gillespie Selmico D $300,000 Titleworks Inc
Zahir Kcyied $205,000 --
Zahir Zul Latifatu $126,300 --
Russo & Petti Llc $56,000 --
Russo & Petti Llc $56,000 --
Prudent Emmanuel -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 40-42 Silver St Llc $500,000
Previous Owner Gillespie Selmico D $289,275
Previous Owner Zahir Kcyied $164,000
Previous Owner Zahir Zul Latifatu $124,337
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/14/2024 08/14/24 Sold $620,000 +5.1% --
07/10/2024 07/10/24 Pending -- -- --
06/27/2024 06/27/24 For Sale $589,900 0.0% --
06/27/2024 06/27/24 Price Changed $589,900 -1.7% --
05/29/2024 05/29/24 Pending -- -- --
05/06/2024 05/06/24 For Sale $599,900 -- --
Source: New Jersey MLS

Tax History Compared to Growth

Source: Public Records

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 $5,271 $141,400 $16,400 $125,000
2024 $5,271 $141,400 $16,400 $125,000
2022 $5,283 $141,400 $16,400 $125,000
2021 $5,280 $141,400 $16,400 $125,000
2020 $5,373 $141,400 $16,400 $125,000
2019 $5,318 $141,400 $16,400 $125,000
2018 $5,222 $141,400 $16,400 $125,000
2017 $5,034 $141,400 $16,400 $125,000
2016 $4,864 $141,400 $16,400 $125,000
2015 $4,679 $141,400 $16,400 $125,000
2014 $4,385 $141,400 $16,400 $125,000
Source: Public Records

Agents Affiliated with this Home

  • Silvio Lavrador

    Seller's Agent in 2024

    Silvio Lavrador

    RE/MAX

    (908) 591-1433

    5 in this area

    73 Total Sales

    Section Image
  • Alex Ruiz

    Buyer's Agent in 2024

    Alex Ruiz

    Ruiz Realty

    (201) 362-0566

    2 in this area

    16 Total Sales

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Map

Source: New Jersey MLS

MLS Number: 24013868

New Jersey MLS

APN: 14-04109-0000-00003

New Jersey Essex County Newark 07106 Lower Vailsburg

40-42 Silver St, Newark, NJ

This home is located at 40-42 Silver St, Newark, NJ 07106 since 06 May 2024 and is currently estimated at $633,653. 40-42 Silver St is a home located in Essex County with nearby schools including Lincoln Elementary School, Mt. Vernon School, and Hawthorne Avenue Elementary School.

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.

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All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing, Inc.

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