Real Estate Investing in Essex Fells, New Jersey (07021)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 07021 (Essex Fells, NJ)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.0% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 48.2 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Essex Fells, NJ (07021)?
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Market Analysis: 07021 Essex Fells
This part of Essex County is not an easy win. The 07021 ZIP reflects softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $2,565/mo on a $1.5M basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 07021 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 07021 among NJ's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 07021 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The right play in 07021 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Essex Fells:
Market Trends
Home Value History (with trend line)
📊 How Does 07021 Compare?
| Metric | 07021 | Essex Fells | New Jersey |
|---|---|---|---|
| Home Value | $1,482,341 | $1,482,341 | $559,826 |
| 5-Year CAGR | 8.3% | 8.3% | 8.4% |
| Avg Rent | $2,565 | $2,565 | - |
| Cap Rate | 1.4% | 1.4% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 07021 (Essex Fells, NJ). Anonymous, moderated, never written by AI.
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Property managers serving Essex County
Manage rentals here? List your business →Associa Community Management Corporation of New Jersey is an HOA property management company serving Northern and Central New Jersey. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,482,341 |
| Monthly Rent | $2,565 |
| Price-to-Rent | 48.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.1% |
| Cap Rate | 1.4% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +10.5% ▲ |
| 3-Year CAGR | +9.3% ▲ |
| 5-Year CAGR | +8.3% ▲ |
| 10-Year CAGR | +6.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.4%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 07021
Population: 2,320
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 07021
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Edison Middle School
Essex County West Caldwell Tech
Gregory Elementary School
Grover Cleveland Middle School
Hazel Avenue Elementary School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 3,024 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What kind of vacancy should I budget for in Essex Fells, NJ?
Essex Fells, NJ vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What is the average home sale price in Essex Fells, NJ?
Typical homes in Essex Fells, NJ go for around $1.5M. The 5-year CAGR of 0.0% even-keeled price movement.
What is the typical rental rate in Essex Fells, NJ?
The typical rental in Essex Fells, NJ commands about $2,565/mo monthly. That rent profile predictable cash flow against the $1.5M purchase basis.
Is Essex Fells, NJ suited for a house hack?
For house hackers, Essex Fells, NJ is a tougher. The $2,565/mo rent on a unit helps defray the mortgage on a $1.5M property.
What is the best play in Essex Fells, NJ?
For Essex Fells, NJ, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 07021 now. You don’t know where it ranks.
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How 07021 ranks in New York-Newark-Jersey City, NY-NJ-PA
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