NOT LISTED FOR SALE

406 Summer Ave Newark, NJ 07104

Mount Pleasant-Lower Broadway Neighborhood

Estimated Value: $374,230 - $503,000

Studio
-- Bath
-- Sq Ft
1,742 Sq Ft Lot

Last Sold August 28, 2024

Last sale price $440,000

Current estimated payment $2,633/month

40 Days on Market

About This Home

As of August 2024

This home is located at 406 Summer Ave, Newark, NJ 07104 since 17 July 2024 and is currently estimated at $440,058. This property was built in 1880. 406 Summer Ave is a home located in Essex County with nearby schools including Rafael Hernandez School, Elliott Street Elementary School, and Ridge Street Elementary School.

Last Agent to Sell the Property

Jorge Velasquez

RE/MAX PROFESSIONALS I Brokerage Phone: 973-450-4000 Listed on: 07/17/2024

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1880

Lot Details

  • 1,742 Sq Ft Lot

Property Details

Home Type

Multi-Family

Year Built

Built in 1880

Lot Details

0

Listing Details

  • Year Built: 1880
  • County Name: Essex
  • I D: 5301298
  • Attribution Contact: 973-450-4000
  • MLS Status: Sold
  • Special Features: None
  • Property Sub Type: MultiFamily

Lot Info

  • Lot Size: 17.1X100
  • Total Acres: 0.04

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 17, 2024
Closed on
Aug 12, 2024
Sold by
Fannie Mae and Federal National Mortgage Association
Bought by
Fred Justin
Seller's Agent
Jorge Velasquez
RE/MAX PROFESSIONALS I
List Price
$443,500
Sold Price
$440,000
Premium/Discount to List
-$3,500
-0.79%
Views
29
Current Estimated Value
$440,058

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$58
Avg. Annual Appreciation
0.01%
Original Mortgage
$432,030
Outstanding Balance
$426,092
Interest Rate
6.63%
Mortgage Type
New Conventional
Estimated Equity
$13,966

Purchase Details

Listed on
Apr 28, 2022
Closed on
Jun 22, 2022
Sold by
Acosta Juan A and Acosta Celia R
Bought by
Gunga Jagdesh
Seller's Agent
Angel Suarez
DIAS & ASSOCIATES REALTY
Buyer's Agent
TREVOR THOMAS
KELLER WILLIAMS CITY LIFE REALTY
List Price
$259,000
Sold Price
$290,000
Premium/Discount to List
$31,000
11.97%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
21.07%
Original Mortgage
$281,300
Interest Rate
5.1%
Mortgage Type
New Conventional

Purchase Details

Listed on
Apr 28, 2022
Closed on
Apr 26, 2022
Sold by
Mr Cooper
Bought by
Federal National Mortgage Association
Seller's Agent
Angel Suarez
DIAS & ASSOCIATES REALTY
Buyer's Agent
TREVOR THOMAS
KELLER WILLIAMS CITY LIFE REALTY
List Price
$259,000
Sold Price
$290,000
Premium/Discount to List
$31,000
11.97%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$281,300
Interest Rate
5.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 15, 2007
Sold by
Guevara Juan
Bought by
Salgado Jose

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$228,000
Interest Rate
6.48%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 24, 2005
Sold by
Michaelbarsoum
Bought by
Guevara Juan
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

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ICE

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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
Fred Justin $440,000 None Listed On Document
Fred Justin $440,000 None Listed On Document
Gunga Jagdesh $290,000 Foundation Title
Gunga Jagdesh $290,000 Foundation Title
Federal National Mortgage Association -- Stead Jennifer
Federal National Mortgage Association -- Stead Jennifer
Salgado Jose $240,000 Multiple
Salgado Jose $240,000 Multiple
Guevara Juan $145,000 --
Guevara Juan $145,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Fred Justin $432,030
Previous Owner Gunga Jagdesh $281,300
Previous Owner Salgado Jose $228,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/28/2024 08/28/24 Sold $440,000 -0.8% --
08/26/2024 08/26/24 Pending -- -- --
07/17/2024 07/17/24 For Sale $443,500 +52.9% --
06/23/2022 06/23/22 Sold $290,000 +12.0% -- View Prior Sale
05/12/2022 05/12/22 Pending -- -- --
04/28/2022 04/28/22 For Sale $259,000 -- --
Source: Garden State MLS

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 $3,575 $95,900 $18,500 $77,400
2024 $3,575 $95,900 $18,500 $77,400
2022 $3,583 $95,900 $18,500 $77,400
2021 $3,581 $95,900 $18,500 $77,400
2020 $3,644 $95,900 $18,500 $77,400
2019 $3,607 $95,900 $18,500 $77,400
2018 $3,542 $95,900 $18,500 $77,400
2017 $3,414 $95,900 $18,500 $77,400
2016 $3,299 $95,900 $18,500 $77,400
2015 $3,173 $95,900 $18,500 $77,400
2014 $2,974 $95,900 $18,500 $77,400
Source: Public Records

Agents Affiliated with this Home

  • Jorge Velasquez

    Seller's Agent in 2024

    Jorge Velasquez

    RE/MAX

    (973) 418-0425

    4 in this area

    216 Total Sales

    Jorge Velasquez
    Section Image
  • Angel Suarez

    Seller's Agent in 2022

    Angel Suarez

    DIAS & ASSOCIATES REALTY

    (973) 759-7700

    2 in this area

    15 Total Sales

    Angel Suarez
    Section Image

  • T

    Buyer's Agent in 2022

    TREVOR THOMAS

    KELLER WILLIAMS CITY LIFE REALTY

See All Agents

Map

Source: Garden State MLS

MLS Number: 3913861

Garden State MLS

APN: 14-00626-01-00038

New Jersey Essex County Newark 07104 Mount Pleasant-Lower Broadway

406 Summer Ave, Newark, NJ

Not Listed for Sale

MultiFamily

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