NOT LISTED FOR SALE

59 Farley Ave Unit 61 Newark, NJ 07108

Clinton Hill Neighborhood

Estimated Value: $696,000 - $870,534

8 Beds
5 Baths
-- Sq Ft
5,550 Sq Ft Lot

Last Sold January 02, 2024

Last sale price $874,000

Est. 7% decrease in value since last sale

Current estimated payment $5,127/month

68 Days on Market

About This Home

As of January 2024

Unique Opportunity to Own this VACANT RENOVATED HUGE THREE FAMILY HOME nested in the Upper Clinton Hill Section of the Vibrant City of Newark. Magnificent home w/NYC Views from the upper levels offering versatility, modern living while maintaining its beautiful original classic charm. This exquisite property sits on a double lot w/3 detached car garages & plenty of off-street prkg. Offering an ideal blend of comfort & convenience w/its expansive layout, this home boasts a total of 8 BRs & 5 full baths spread across 3 well-appointed units. Unit 1 & 2 comprise of Living Room, Dining Room w/open concept to the modern Kitchen equipped w/stainless steel appliances, quartz counter tops & stylish light fixtures, 3 spacious BRs and 2 full bathrooms. Unit 3 features Living Room open to the modern Kitchen, 2 BRs and 1 full bath. Semi-finished basement w/laundry RM & storage area, central Heat & Cooling, separate utilities, and so much more.

Last Agent to Sell the Property

Jorge Velasquez

RE/MAX Professionals 1 Listed on: 09/27/2023

Last Buyer's Agent

Outside Agent

Outside Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,093

Lot Details

  • 5,550

Parking

  • 3 Car Garage

Home Design

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 5 Full Bathrooms

Additional Features

  • Laundry in Basement
  • 5,550 Sq Ft Lot

Listing and Financial Details

  • Legal Lot and Block 00005 / 03002

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,093

Lot Details

0

Parking

3

Listing Details

  • Property Type: 2-4 Family
  • Su Prop: 2-4 Family
  • ResoLaundryFeatures: In Basement
  • Co List Office Phone: (973) 450-4000
  • MLS Status: Sold - Sold
  • Directions: Madison Ave. to Farley Ave.
  • Architectural Style: 3 Family
  • Year Built Details: 1900-1939,Build Prior to 1978
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Full Bathrooms: 5
  • Total Bedrooms: 8

Exterior Features

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

Garage/Parking

  • Garage Spaces: 3.0

Utilities

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

Lot Info

  • Lot Size Sq Ft: 5550.0

Tax Info

  • Tax Annual Amount: 10093.0
  • Tax Block: 03002
  • Tax Lot: 00005

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 27, 2023
Closed on
Dec 29, 2023
Sold by
Butterfly Investments Llc
Bought by
Hunter Christopher R
Seller's Agent
Jorge Velasquez
RE/MAX Professionals 1
Buyer's Agent
Outside Agent
Outside Office
List Price
$849,000
Sold Price
$874,000
Premium/Discount to List
$25,000
2.94%
Views
12
Current Estimated Value
$808,634

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$65,366
Avg. Annual Appreciation
-4.34%
Original Mortgage
$830,300
Outstanding Balance
$814,811
Interest Rate
6.61%
Mortgage Type
New Conventional
Estimated Equity
-$6,177

Purchase Details

Closed on
Jul 7, 2023
Sold by
61 Farley L Llc
Bought by
Butterfly Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
6.57%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 28, 2016
Sold by
Odom Troy
Bought by
61 Farley Ave L Llc

Purchase Details

Closed on
Sep 15, 2006

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$310,500
Interest Rate
9.69%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Sep 20, 2002
Sold by
Odom Ruth
Bought by
Odom Ruth
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
Hunter Christopher R $874,000 True Value Title
Butterfly Investments Llc $483,198 Kenworth Title
61 Farley Ave L Llc $51,500 Westcor Land Title Insurance
-- -- --
Odom Ruth -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Hunter Christopher R $830,300
Previous Owner Butterfly Investments Llc $500,000
Previous Owner -- $310,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/02/2024 01/02/24 Sold $874,000 +2.9% --
12/04/2023 12/04/23 Pending -- -- --
11/03/2023 11/03/23 For Sale $849,000 0.0% --
10/25/2023 10/25/23 Pending -- -- --
09/27/2023 09/27/23 For Sale $849,000 -- --
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 $10,077 $410,000 $15,000 $395,000
2024 $10,077 $410,000 $15,000 $395,000
2022 $10,098 $270,300 $15,000 $255,300
2021 $10,093 $270,300 $15,000 $255,300
2020 $10,271 $270,300 $15,000 $255,300
2019 $4,908 $130,500 $15,000 $115,500
2018 $4,819 $130,500 $15,000 $115,500
2017 $4,646 $130,500 $15,000 $115,500
2016 $4,489 $130,500 $15,000 $115,500
2015 $4,318 $130,500 $15,000 $115,500
2014 $4,047 $130,500 $15,000 $115,500
Source: Public Records

Agents Affiliated with this Home

  • Jorge Velasquez

    Seller's Agent in 2024

    Jorge Velasquez

    RE/MAX

    (973) 418-0425

    8 in this area

    225 Total Sales

    Jorge Velasquez
    Section Image

  • O

    Buyer's Agent in 2024

    Outside Agent

    Outside Office

See All Agents

Map

Source: New Jersey MLS

MLS Number: 23029923

New Jersey MLS

APN: 14-03002-0000-00005

New Jersey Essex County Newark 07108 Clinton Hill

59 Farley Ave Unit 61, Newark, NJ

This home is located at 59 Farley Ave Unit 61, Newark, NJ 07108 since 27 September 2023 and is currently estimated at $808,634. 59 Farley Ave Unit 61 is a home located in Essex County with nearby schools including Belmont Runyon School, Hawthorne Avenue Elementary School, and Louise A. Spencer 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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