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    Three-Story Legal Three-Family Home Title is generated by Realmo AI

    130 Milford Ave, Newark, NJ 07108

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    Claim this Listing
    New
    For Sale
    $750,000

    3-Three Story, Multi-Family - Newark City, NJ

    Lot size:
    0.05 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 5:06 am

    Property Features for 130 Milford Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    9
    Bathrooms
    3
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Living Room
    Security features
    Security System
    Interior features
    Carbon Monoxide Detector, Fire Extinguisher, Security System, Smoke Detector, Tile Floors, Wood Floors
    Exterior features
    Curbs, Partially Fenced
    Fencing
    Fenced, Partial
    Basement Y/N
    1
    Appliances
    Microwave, Oven - Gas, Range
    Standard status
    Active
    Lot size
    0.05 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    11173

    Utilities

    Heating system
    Hot Water (Heating), Radiant
    Cooling system
    None (Cooling)

    Building Details

    Year built
    1902
    Number of units
    3
    Building materials
    Vinyl Siding
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

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    Listing Contact
    CAMILLE HAYNES

    Listing agent CAMILLE HAYNES

    Listing office EXP REALTY, LLC 28 VALLEY ROAD, Montclair, NJ

    Listing date Jun 3, 2026

    MLS# 4032062 Listing URL

    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.

    HighLights

    • Legal 3‑family home with three separate units, each offering 3 bedrooms and 1 full bathroom
    • 1st and 3rd floor units reportedly updated, with the 2nd floor renovated about a year ago
    • Built in 1902 with vinyl siding, asphalt shingle roof, and tile and wood flooring
    • Basement included with an unfinished basement offering additional storage and future possibilities
    • Heating includes hot water (heating) and radiant heat; no cooling systems reported
    • Security and safety features include security system, smoke detectors, and carbon monoxide detector

    Overview

    130 Milford Avenue is a legal three-family, three-story home offering three separate residential units. Each unit includes three spacious bedrooms and one full bathroom, with layouts distributed across the floors. The first- and third-floor units have been updated, while the second-floor unit was renovated about a year ago. The property also includes an unfinished basement that can provide additional storage and possible future use depending on a buyer’s needs.

    The home is located in Newark, with convenient access to major roadways, public transportation, schools, parks, shopping, and local restaurants. The property is well-suited to buyers considering either owner-occupancy or rental income use, given the separate unit structure and practical, livable floor plans.

    From an operating standpoint, the configuration supports flexible occupancy, including the option to live in one unit while renting the others. The top-floor unit is described as having a long-term tenant, which may appeal to buyers looking for existing rental continuity. Overall, this is a straightforward three-unit residential income property with documented updates on two floors and a second-floor renovation completed within the past year.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.19118
    Latitude
    40.71805

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    FAQs

    What type of property is this?
    Triplex - Legal 3-family with three bedrooms and one full bath per unit, with updated finishes on multiple floors.
    Where is this triplex located?
    The property is located at 130 Milford Ave Newark, NJ.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Legal 3‑family home with three separate units, each offering 3 bedrooms and 1 full bathroom; 1st and 3rd floor units reportedly updated, with the 2nd floor renovated about a year ago; Built in 1902 with vinyl siding, asphalt shingle roof, and tile and wood flooring
    (866) 201-6210
    We can help!
    Listing Contact
    CAMILLE HAYNES
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    130 Milford Ave, Newark City, NJ 07108-2727
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