Located at 581 S 17th St, Newark, NJ, this well-positioned 2-family home offers a powerful opportunity for both investors and owner-occupants. Each unit features an identical 3-bedroom, 1-bath layout with spacious living areas and strong rental appeal, making it ideal for consistent income and long-term value. The property is fully… Read More occupied on month-to-month leases, with tenants currently being assisted through professional relocation creating flexibility for a new owner to move in, set market rents, or both. For an owner-occupant, this is a prime house-hacking opportunity; live in one unit while the other helps offset your mortgage and build equity faster. Located in a commuter-friendly area with access to major highways, public transit, shopping, and dining, this property checks both lifestyle and investment boxes. From a market standpoint, multifamily demand in Newark and Essex County continues to rise, with home values increasing approximately 57% year-over-year and strong rental demand supporting long-term growth. This positions the property as a smart buy in a market trending upward.Whether you're looking to live strategically or invest intelligently, this is an opportunity to do both while securing a foothold in one of North Jersey's most active real estate markets! Read Less
Courtesy of COOPER MCKELVEY REAL ESTATE CO..
Listing Snapshot
Days Online
16
Last Updated
Property Type
Other
Beds
6
Lot Size
0.08 Acres
Year Built
1907
MLS Number
4021638
30 Days Snapshot Of 07103
$400k
+7%
(avg) sold price
8
+100%
homes sold
82
-7%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Unfinished, Yes
Building
Built in 1907, Renovated in 2018
Cooling
None
Exterior Features
Aluminum Siding
Water Features
Public Water
Heating
Gas-Natural, Forced Hot Air
Lot
Approximate Lot Size: 33X100, 0.08 acres
Parking
1 parking space, 1 Car Width
Property
2 units, FHA Age Restricted: No
Roof
Asphalt Shingle
Sewer
Public Sewer
Taxes
Annual Tax Amount: $5,286, Tax Rate: 3.999
Unit One
1 bathroom, 3 bathrooms, Handicap Accessibility: No, CookGas, Microwav, SeeRem
Unit Two
1 bathroom, 3 bathrooms, Handicap Accessibility: No, CookGas, Microwav, SeeRem
Utilities
All Underground, Electric, Gas-Natural
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All information contained herein deemed reliable but not guaranteed. Buyers should personally verify all information. GSMLS Data provided via Home Junction, Inc.
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