Renovated Two-Unit Duplex with
For Sale
$789,000
1321 Clinton Ave, Irvington, NJ 07111
MULTI_FAMILY - Irvington Twp., NJ
Property Size2,260 SF
Lot Size0.09 Acres
Price / SF$349.12
Days on Market32
Property Features for 1321 Clinton Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 5, Bedroom 7, Bedroom 2, Bedroom 1, Bedroom 8, Bedroom 3, Bedroom 6, Basement, Bathroom 2, Bedroom 4
Interior features
Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Wood Floors
Exterior features
Metal Fence, Wood Fence
Fencing
Fenced, Wood
Elementary school
UNIVERSITY
Middle school
UNION
High school
IRVINGTON
Directions
Located on Clinton Ave between Stuyvesant Ave and Hillside Terrace
Standard status
Active
Size
2,260 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14593
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central air
garage
Building Details
Year built
1923
Floors in Building
2
Number of units
2
Roof type
Shingle, Rubber
Architectural style
Other
Listing Agency:
COMPASS NEW JERSEY, LLC
(973) 315-8180
Listed By:
CARLOS TAM
(973) 315-8180
Added: Jul 30
Changed: Aug 18
Last Checked: Aug 30 at 9:06AM
MLS# 4043815
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.
1321 Clinton Ave is a renovated legal two-family duplex with a finished lower level that adds flexibility and extra living space. Each residence features four bedrooms and one full bathroom, along with an open-concept living and dining area, an updated kitchen, modern finishes, recessed lighting, and updated flooring. Central air and forced-air heating are included for comfort.
The property includes a finished lower level with three additional bonus rooms and a full bath, supporting a range of home-office, recreation, gym, media, or hobby uses. Interior features also include wood floors, smoke detectors, and a fire extinguisher. Exterior features include metal and wood fencing.
Set on a corner location on a 0.09-acre lot, the home is served by public water and public sewer. The building was constructed in 1923 and has shingle and rubber roofing, with a garage on site. It is located in Irvington Twp., Essex County, near South Orange, approximately 10 minutes from Seton Hall University, with access to transportation, shopping, and major roadways.
The property includes a finished lower level with three additional bonus rooms and a full bath, supporting a range of home-office, recreation, gym, media, or hobby uses. Interior features also include wood floors, smoke detectors, and a fire extinguisher. Exterior features include metal and wood fencing.
Set on a corner location on a 0.09-acre lot, the home is served by public water and public sewer. The building was constructed in 1923 and has shingle and rubber roofing, with a garage on site. It is located in Irvington Twp., Essex County, near South Orange, approximately 10 minutes from Seton Hall University, with access to transportation, shopping, and major roadways.
Key Highlights
- Legal 2‑family duplex with finished lower level plus 3 bonus rooms and a full bath
- Each unit has 4 bedrooms and 1 full bath with updated kitchen and recessed lighting
- Central air and forced‑air heating
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
$37,824
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
4.79%
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%
$756,480
$756.5K
Cap Rate 7%
$540,343
$540.3K
Cap Rate 9%
$420,267
$420.3K
Market Conditions
NOI Build-Up for 2,260 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
$57.8K $25.56/SF
− Vacancy
−$3.7K −$1.65/SF
EGI
$54.0K $23.91/SF
− OpEx
−$16.2K −$7.17/SF
NOI
$37.8K $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%
$756,480
Cap Rate 7%
$540,343
Cap Rate 9%
$420,267
Alternative Uses
Best Use
Multifamily LT 5
$540.3K
$472.8K – $630.4K
NOI $37,824 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$496.5K
$434.4K – $579.2K
NOI $34,754 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$590.1K
$516.4K – $688.5K
NOI $41,309 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,999
Businesses Nearby
Explore this area
Business Placement
Demographics for 07111, NJ
61,176
Population
24,176
Households
2.5
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
21,095
Density / Sq Mi
$59,232
Median Household Income
$37,640
Median Earnings
$1,324
Median Rent
$291,500
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 - Renovated legal two-family duplex with central air, forced-air heat, and a garage on a corner lot.
Where is this duplex located?
The property is located at 1321 Clinton Ave Irvington, NJ.
What is the asking price?
The asking price for this property is $789,000.
What are key features of this property?
This property features: Legal 2‑family duplex with finished lower level plus 3 bonus rooms and a full bath; Each unit has 4 bedrooms and 1 full bath with updated kitchen and recessed lighting; Central air and forced‑air heating
