There are a lot of little shops and restaurants on Broadway, so its a convenient place to live. But the main draw of the area is its affordability and proximity to transportation. In addition to buses and Light Rail to Newark Penn Station, you are also close to Route 21 which will take you to Route 3, 280, and from there the Parkway and Turnpike.
If you're really interested in moving to this area I would advise you to visit the neighborhood and see it for yourself. You can also find additional information on the following websites:
Coldwell Banker Franklin Realty