New Jersey Realtor Lists Renovated Newark Home for $1 in Social Experiment

A real estate agent in New Jersey has listed a house in Newark for just one dollar, aiming to observe how the housing market responds to such an unconventional listing. The property, a colonial-style residence on Reynolds Place, was purchased by broker Brendan DaSilva for $300,000 and has recently undergone $100,000 worth of renovations.

The house, built in 1945 on a 4,791-square-foot lot, offers three bedrooms, a half-bath, and a fully finished basement designed for additional living space. DaSilva describes it as a high-end, beautifully finished home featuring modern updates, including a brand-new kitchen, with high-quality finishes throughout.

The property boasts a private backyard, an enclosed porch, and parking for six vehicles, including two in an enclosed garage. Despite its current low listing price, records show the home was last sold in April 2025 for $30,000, with prior sales dating back to 1974 for $36,500.

DaSilva, who is affiliated with Keller Williams in nearby Montclair, mentioned that he is just testing the market’s reaction. He stated, “Whoever comes up with the highest bid will be the offer we go forward with.” Bids can start at $1, and interested buyers can view the home during open houses on Saturday and Sunday from 11 a.m. to 1 p.m.