← Back to Sold Properties

SOLD 260309

22-24 FERRY ST

Newark, NJ

$1,550,000

Commercial

Property Type

Tax Assessment Analysis

Sale Price

$1,550,000

Total Assessed

$586,200

Sale vs. Assessed

+$963,800 (+164.4%)

Land Value

$225,000

Building Value

$361,200

Newark Market Overview

$520,000

Median Price

2,013

Total Sales

-5.5%

Year over Year

Buyer's

Market Type

📊 Investment Analysis

$10,850

Est. Monthly Rent

$11,439

Est. Mortgage

7.03% · 20% down

-$589

Monthly Cash Flow

8.4%

Cap Rate

-2.3%

Cash-on-Cash Return

Estimates based on 0.7% rent rule, 7.03% interest rate, 20% down payment. For illustrative purposes only.

🏘 Newark Neighborhood Guide

Walk Score

Very Walkable

Min to NYC

Direct train

Newark Penn Station

Train Station

Northeast Corridor + PATH

Neighborhoods in Newark

Ironbound (Down Neck) $560,000 to $1,200,000

Best for: First time buyers, food lovers, young professionals

Forest Hills $500,000 to $850,000

Best for: Affluent families, historic home lovers

Vailsburg $300,000 to $500,000

Best for: Families, middle income buyers

University Heights $300,000 to $450,000

Best for: Students, young professionals, renters

Roseville $240,000 to $550,000

Best for: First time buyers, value seekers, investors

North Ward $200,000 to $500,000

Best for: Families, Italian heritage seekers

Weequahic (South Ward) $190,000 to $670,000

Best for: Investors, families, golf enthusiasts

Downtown (Central Ward) $400,000 to $835,000

Best for: Young professionals, culture seekers

East Ward $250,000 to $600,000

Best for: Investors, first time buyers

West Ward $75,000 to $500,000

Best for: Budget buyers, families, renovation investors

Newark is the largest city in New Jersey with over 317,000 residents and one of the most dramatic turnaround stories in American real estate. Founded in 1666, it is older than the nation itself. After decades of decline following the 1967 civil unrest, Newark has roared back with over $4 billion in ...

Explore Newark →