You have some wonderful points.
I know Newark pretty well. I’ve been working in the area for the past 15 years. I’ve seen it appreciate quite substantially.
I will say the prices here are quite inflated and there are still inherent issues in the area. Crime is still a major issues. A flip we did a fews years ago was vandalized 3 times until we hired a local resident full time to stay in the property and keep an eye on it. We had wired the whole house, that night it got all cut out. Same went for plumbing and the electric the second time.
If investors are looking to start here, just be weary of the unexpected. Have a built in cushion.
just because it’s cheap, doesn’t mean it’s worth it. The areas you described are indeed the best areas to buy in Newark. But it’s a street by street area. You could be in a wonderful little area, then round the corner and it’s very rough. I’ve been in the middle of a literal shoot out 2 times while working down in Newark. Granted that was at night in the worst areas, there is still lots of crime. Some of it is also towards real estate investors because we are looked at by the residents that we are ruining the area.
With all that said, I love Newark. I would love to invest more and more here. I’d love to see more investors come to this area and raise up Newark how it used to be. There’s so much old architecture here and so much potential. With all the colleges ever expanding, it’s always a solid investment to buy near the schools.
Ironbound is fantastic. It’s also very tight knit. And IMO can be very overpriced. I suggest areas around broad st between mulberry and e Kinney.
and I suggest areas along Bloomfield Ave close to clifton Ave. If anyone has other questions about the area I’ll always answer them!
