29 Kossuth St
Newark, NJ 07105 • Active North Ironbound 2-family
This is the strongest risk-adjusted forced-equity screen in the pack today. The ask is under $300K, the North Ironbound location supports rent, and the finished-value range can create real BRRRR potential. The legal-use discrepancy must be resolved before the deal is promoted as a clean two-family.
The numbers that matter
| Current ask / basis | $299,999 |
| Recommended max screen | $275K-$285K target; ~$295K ceiling before inspection |
| Value / ARV screen | $475K-$525K |
| Rehab / reserve | $80K-$110K |
| Rent screen | $4,100-$4,500/mo |
| Estimated investor cash | ~$45K-$60K with strong bridge leverage |
| Primary strategy | BRRRR / 2-family hold |
| Street View / block screen | B • dense established urban residential block |
How I would screen the financing
Acquisition + rehab bridge first. Published programs can begin around 600-650 FICO depending on lender and experience. Exit through DSCR once legal use, rent and stabilized value are proven.
Rule: minimum FICO and maximum leverage are not assumed to occur in the same file. Property condition, experience, reserves, DSCR, state and loan amount can materially change the terms.
Block context is part of the underwriting
Street-level context was reviewed. The block is dense and urban with heavy on-street parking and overhead utilities, but surrounding housing appears occupied and reasonably maintained. Walkability and transit access support rental demand.
Deal-breaking diligence
- Garden State MLS calls it a two-family, while another public record feed classifies it as single-family. Verify CO/legal use with Newark.
- Interior condition is not fully documented; $80K-$110K rehab is provisional.
- Verify utilities/meters and basement use.
- Do not underwrite the upper ARV without renovated multifamily comps and appraisal support.
Go back to the source.
The Deal Desk screen is a starting point. Verify current status, property condition, title, taxes, occupancy, legal use, rents, Street View / block context and any auction rules directly from the public source and local professionals.
“A good deal can survive conservative numbers and a street-level reality check.”Dr. Rob • Deal Desk
Want to pursue 29 Kossuth St?
Send the deal through the funding console. I will have the property, strategy, credit range, liquidity and experience in one clean packet.