Very gorgeous except it will need a gut renovation of probably $400k

And it won’t be worth $1 million. The highest a single-family has sold for, all finished inside and ready to move in, was $832k last year. With interest rates where they are now, it’ll be a while before any of the corner mansions break that.

So I’m wondering if the ppl buying these homes over $800k are paying cash, and if they’re immune to rising rates. The house on the corner of Ballentine and Lake St just sold for $800k and is in way better shape than the house that sold for $820k on the corner of Delavan and Parker. I don’t have the answer here, but I could see a contractor paying $500-600k for this one and remodeling it.

Look at the brown house on Elwood, it sold at the start of Covid for $350k (total remodel needed); it sat for a year or so and was sold for $600k with no work being completed on it. Interesting to watch!

look at those outlets IN SIDE OF the beautiful decorative molding near the floor in all of the rooms. A dead giveaway that the electrical is original knob and tube and needs to be totally gutted.

That’s it?

I’d really love to see what it could look like in the hands of someone with 800k extra to throw at after purchase. Won’t happen, but damn it could be beautiful.

Yeah, it's a lovely house, but knowing a lady was murdered, stuffed into a suitcase, and encased in a fake concrete slab in the basement would keep me up at night.

Hard pass

Edit: after a bit of research, the house pictured and listed (200 Elmwood) is NOT the house that the poor lady was buried in which was 212-214 Elmwood

Edit 2: this house is so flipping strange. The layout is so convoluted. The basement has two levels to it? The closets have closets? A few dead hallways that lead nowhere.

Can do a 3d tour here https://www.zillow.com/homedetails/200-Elwood-Ave-Newark-NJ-07104/2129926534_zpid/?

It is in complete disarray, has clearly been abandoned for a long time, and needs another 500k minimum put it into it. Might be some of the ornate original interior that's salvageable, but I imagine most of it would have to get trashed, and taken down to the studs.

It almost seems someone saw this as a fixer upper and started to work on it ( a couple of more modern details and finishes) and ran out of money and then just abandoned it.

You'd have to be insane/have very deep pockets to want to take this project on

What!

Sorry it was in the garage, not the basement

https://www.vanityfair.com/news/2004/06/burrough200406

I actually knew of this case before seeing this house listing, after looking at various properties in north Newark.

Edit: totally different house (214 Elmwood)

Although I think you’re right, its possible that it could be BX; I’ve seen both installed in baseboards