Duplex with Finished Basement and Separate
For Sale
$849,900
Pending
113 Harrison St, Bloomfield, NJ 07003
MULTI_FAMILY - Bloomfield Twp., NJ
Property Size2,276 SF
Lot Size0.17 Acres
Days on Market74
Property Features for 113 Harrison St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 6, Bedroom 1, Bedroom 4, Bedroom 5, Bathroom 2, Bedroom 7, Bedroom 8, Bathroom 1, Basement, Bedroom 3, Bedroom 2
Parking
6
Directions
Franklin St & Newark Ave
Standard status
Pending
Size
2,276 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13889
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1923
Floors in Building
3
Number of units
2
Roof type
Composition
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY
(908) 233-8502
Listed By:
CARLO FLORES
(908) 233-8502
Added: May 29
Changed: Aug 8
Last Checked: Aug 10 at 3:06AM
MLS# 4030950
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Owner-occupied two-family duplex with a finished basement and direct, flexible living space. The first-floor unit offers 2 bedrooms plus an office, with direct access to a fully finished basement that functions as an extension of the living area. The basement includes 2 additional rooms, a recreation room, a full bathroom, and a separate exterior entrance. The second-floor unit provides 4 bedrooms, plus a finished attic with an additional bedroom and sitting area. The home totals 3 full bathrooms, and the property is described as having 6 bedrooms (listed as 8 for search visibility).
Additional on-site amenities include a detached 3-car garage and an extended driveway for off-street parking. The property sits on a 0.17-acre lot and has 2,276 square feet. Heating is Hot Water with Baseboard, and utilities include public water and public sewer. The roof is composition.
Built in 1923, the duplex is described as well maintained with semi-updates throughout, supporting both owner-occupant use and multi-family leasing needs.
Additional on-site amenities include a detached 3-car garage and an extended driveway for off-street parking. The property sits on a 0.17-acre lot and has 2,276 square feet. Heating is Hot Water with Baseboard, and utilities include public water and public sewer. The roof is composition.
Built in 1923, the duplex is described as well maintained with semi-updates throughout, supporting both owner-occupant use and multi-family leasing needs.
Key Highlights
- Detached 3‑car garage plus extended driveway for off‑street parking
- Finished basement with separate exterior entrance and full bathroom
- Two‑family layout: first‑floor 2 bedrooms plus office; second‑floor 4 bedrooms with finished attic
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,092
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$761,840
$761.8K
Cap Rate 7%
$544,171
$544.2K
Cap Rate 9%
$423,244
$423.2K
Market Conditions
NOI Build-Up for 2,276 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.2K $25.56/SF
− Vacancy
−$3.8K −$1.65/SF
EGI
$54.4K $23.91/SF
− OpEx
−$16.3K −$7.17/SF
NOI
$38.1K $16.74/SF
Area
Essex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$761,840
Cap Rate 7%
$544,171
Cap Rate 9%
$423,244
Alternative Uses
Best Use
Multifamily LT 5
$544.2K
$476.2K – $634.9K
NOI $38,092 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$500.0K
$437.5K – $583.3K
NOI $35,000 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$594.3K
$520.0K – $693.4K
NOI $41,602 @ 7.0% cap · market cap 4.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,729
Businesses Nearby
Explore this area
Business Placement
Demographics for 07003, NJ
52,955
Population
21,692
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
9,992
Density / Sq Mi
$98,805
Median Household Income
$56,465
Median Earnings
$1,775
Median Rent
$447,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Owner-occupied two-family with a finished basement and separate exterior entrance, 3 full baths, and 6 bedrooms total.
Where is this duplex located?
The property is located at 113 Harrison St Bloomfield, NJ.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Detached 3‑car garage plus extended driveway for off‑street parking; Finished basement with separate exterior entrance and full bathroom; Two‑family layout: first‑floor 2 bedrooms plus office; second‑floor 4 bedrooms with finished attic
