9 Spencer St Newark City, 07106

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Newark Investment Opportunity! This residence features 3 bedrooms and 2 full bathrooms, providing ample space for comfort. Nestled in the charming Lower Vailsburg section, this colonial home offers a rare opportunity. As you enter the foyer, you are welcomed by a spacious living room and formal dining room, perfect for hosting gatherings or enjoying quiet evenings. Out the backdoor lies an expansive backyard, ready for your personal touch and TLC. Whether you're planning outdoor gatherings, gardening, or simply seeking a quiet retreat, this space offers endless possibilities.Additional features include a full basement and a detached two-car garage. The home is priced to sell as it was previously under contract for $450K, but the buyer could not perform. It needs some work, but with a few updates, the value can easily exceed $500K with less than $30-50K in renovations. This includes updating the basement, painting, and finishing the attic. There is also potential to add another bedroom on the first floor by repurposing the dining room and opening up the wall into the office to replace the dining room. The home is vacant and ready for its new owner. We are looking for a quick closing! The pictures displayed are from when the home was renovated a couple of years ago. Don't miss out on this opportunity!