86-88 Chancellor Avenue
Newark, NJ 07112
- 3 beds
- 2 baths
- 1940 build
- – on site
Welcome to this beautiful ranch style single-family home that presents an exceptional investment opportunity! Located near Weequahic Park, this residence boasts with potential 3/4 bedrooms, 2.5-3 bathrooms, spread over 2 floors including the basement. This property offers endless possibilities for customization and enhancement with low taxes and a prime location. Upon entry, you'll be greeted by an inviting open-plan concept. The first floor features a spacious master bedroom with an the opportunity to create an additional 2/3 bedrooms. Estimated rehab work is $125k-$150k The current owners lender estimated after-repair value of $500K+. A renovated basement adds further value, providing additional recreational space and elevating the after-repair value. Located near all modes of public transportation and just minutes from NJ Turnpike, providing an easy commute to NY. Direct end buyers only; no wholesalers pls.
Last checked:
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Last updated Apr 14, 2025
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MLS# 24032900 —
The Building
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Year Built:1940's
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Sub Style:Raised
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Ext Finish:Brick
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Basement:Full
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Misc:Central Vac
Interior
-
Fireplace:None
The Property
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Lot Description:Regular
-
Views/Exposure:None
Listing Agent
- Contact info:
- Agent phone:
- (862) 283-1281
- Office phone:
- (866) 201-6210
Beds
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Bedrooms:3
Baths
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Total Baths:3
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Full Baths:1
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Half Baths:2
The Listing
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Flood Plain:None
Heating & Cooling
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Heat:Gas
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Cooling:Central Air
The Community
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Association:None
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Pool Type:None
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Pool:No
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Waterfront:None
Parking
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Garage/Parking:None
Monthly cost estimate
Asking price
$340,000
| Expense | Monthly cost |
|---|---|
|
Mortgage
This calculator is intended for planning and education purposes only. It relies on assumptions and information provided by you regarding your goals, expectations and financial situation, and should not be used as your sole source of information. The output of the tool is not a loan offer or solicitation, nor is it financial or legal advice. |
$1,820
|
| Taxes | N/A |
| Insurance | $93 |
| Utilities | N/A |
| Total | $1,913/mo.* |
| *This is an estimate |
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/4/25
Mar 4, 2025
|
Relisted | NJMLS | $340,000 | |
|
1/28/25
Jan 28, 2025
|
Pending | NJMLS | $340,000 | 21.9% (6.8% / YR) |
|
11/19/21
Nov 19, 2021
|
NJMLS | $279,000 |
67% of nearby similar homes sold for over asking price
Similar homes that sold in bidding wars went $20k above asking price on average, but some went as high as $120k over asking price.
