Duplex with Finished Walkout
For Sale
$524,999
Pending
144 Steuben St, East Orange, NJ 07018
MULTI_FAMILY - East Orange City, NJ
Property Size2,282 SF
Lot Size0.06 Acres
Days on Market19
Property Features for 144 Steuben St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 4, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 6, Bathroom 1, Basement
Subdivision
Greenwood section
Directions
Please use GPS
Standard status
Pending
Size
2,282 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12289
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Steam
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS VILLAGE SQUARE · Keller Williams Realty
(201) 445-4300
Listed By:
LEONARDO TATIS · License #2294805
(201) 445-4300
Added: Jul 23
Changed: Aug 1
Last Checked: Aug 10 at 1:06AM
MLS# 4042744
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.
This legal two-family duplex offers a spacious interior with 2,282 square feet of living space plus a fully finished walkout basement bonus level. The basement includes 2 bedrooms and 1 full bath and features a separate walkout entrance.
The first-floor unit is laid out with 2 bedrooms and 1.5 bathrooms. The second-floor unit spans two floors and includes 4 bedrooms and 2 full bathrooms, including a primary suite with its own en-suite full bath. Both units include in-unit washer/dryer.
Additional property details include steam heating, a shingle roof, public water service, and public sewer. The property was built in 1910 and sits on a 0.06-acre lot. Located in East Orange’s Greenwood section, the home is near Central Avenue shopping, grocery stores, restaurants, houses of worship, parks, and NJ Transit service, with easy access to Newark, major highways, and New York City.
The first-floor unit is laid out with 2 bedrooms and 1.5 bathrooms. The second-floor unit spans two floors and includes 4 bedrooms and 2 full bathrooms, including a primary suite with its own en-suite full bath. Both units include in-unit washer/dryer.
Additional property details include steam heating, a shingle roof, public water service, and public sewer. The property was built in 1910 and sits on a 0.06-acre lot. Located in East Orange’s Greenwood section, the home is near Central Avenue shopping, grocery stores, restaurants, houses of worship, parks, and NJ Transit service, with easy access to Newark, major highways, and New York City.
Key Highlights
- 0.06‑acre lot with a legal two‑family duplex
- 2,282 sq ft of living space plus a fully finished walkout basement
- Walkout basement includes 2 bedrooms and 1 full bath with a separate entrance
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
$38,192
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
7.27%
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%
$763,840
$763.8K
Cap Rate 7%
$545,600
$545.6K
Cap Rate 9%
$424,356
$424.4K
Market Conditions
NOI Build-Up for 2,282 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
$58.3K $25.56/SF
− Vacancy
−$3.8K −$1.65/SF
EGI
$54.6K $23.91/SF
− OpEx
−$16.4K −$7.17/SF
NOI
$38.2K $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%
$763,840
Cap Rate 7%
$545,600
Cap Rate 9%
$424,356
Alternative Uses
Best Use
Multifamily LT 5
$545.6K
$477.4K – $636.5K
NOI $38,192 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$501.3K
$438.7K – $584.9K
NOI $35,093 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$595.9K
$521.4K – $695.2K
NOI $41,711 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,309
Businesses Nearby
Explore this area
Business Placement
Demographics for 07018, NJ
30,429
Population
13,107
Households
2.3
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
1.7 sq mi
ZIP Area
17,899
Density / Sq Mi
$59,039
Median Household Income
$39,630
Median Earnings
$1,410
Median Rent
$314,100
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 - Legal two-family duplex with fully finished walkout basement and in-unit washer/dryer in each unit.
Where is this duplex located?
The property is located at 144 Steuben St East Orange, NJ.
What is the asking price?
The asking price for this property is $524,999.
What are key features of this property?
This property features: 0.06‑acre lot with a legal two‑family duplex; 2,282 sq ft of living space plus a fully finished walkout basement; Walkout basement includes 2 bedrooms and 1 full bath with a separate entrance
