199 Summer Ave, Newark, NJ, 07104
About This Home
Exceptional mixed-use investment opportunity in North Newark! This well-maintained two-unit property offers strong, stable cash flow with long-term tenancy in place and significant upside for investors seeking a turnkey asset.The ground-floor commercial space is occupied by a successful neighborhood grocery store with 12 years remaining on the lease, providing reliable income and built-in 3% annual rent increases. The business is NOT for sale.The second-floor residential unit features 4 bedrooms, 1 full bathroom, den/office and is currently rented on a month-to-month basis, offering flexibility for future rent adjustments or owner-user possibilities.Current rental income: Commercial Unit: $3,550/month (12 years remaining, 3% annual escalations) Residential Unit: $2,420.50/month (month-to-month)With low annual taxes of just $9,573.61 and a desirable mixed-use configuration, this property delivers excellent cash flow potential and long-term income growth. Conveniently located on a busy street with strong visibility, consistent foot traffic, and easy access to major highways, public transportation, shopping, and local amenities.
Getting Around
Walker's Paradise
Good Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1920
Materials
- Roof: Flat
- Construction materials: Aluminum Siding
Notable Dates
- Major remodel year: 2018
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Microwave Oven,Range/Oven - Gas,Refrigerator,Gas Water Heater
Basement
- Has basement: Yes
- Basement: Yes,Bilco-Style Door
Bedrooms & Bathrooms
- Bedrooms: 4
- Bathrooms: 1.1
- Full bathrooms: 1
- 1/2 bathrooms: 1
Features
- See Remarks,Bedrooms,Dining Room,Living Room,Storage
Heating & Cooling
- Heating features: 1 Unit,Baseboard - Hotwater,Natural Gas
- Cooling features: 1 Unit,Window Unit(s)
Interior Area
- Total structure area: 0
Property
Details
- Parcel number: 1614005250000000040000
Features
- Levels: Two
- Stories: 2
Lot
- Lot size: 2,613 sqft
- Lot size dimensions: 25 x 100
Parking
- Parking features: None,On Street
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Heat Wave
- Inland Flooding
- Coastal Flooding
- Cold Wave
- Strong Wind
- Winter Weather
How This Home’s Risks Compare
FEMA Declared Disasters Across New Jersey Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $3,284 | $39,408 |
| Home Insurance * | $426 | $5,112 |
| Property Taxes | $1,136 | $13,632 |
| Electricity | $193 | $2,318 |
| Total | $5,039 | $60,468 |
Income You'd Need if You Spent...
New Jersey FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-06-08 | Listed for sale | $649,500 |
| 2017-12-17 | Listing removed | $1,600 |
| 2017-10-09 | Listed for rent | $1,600 |
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