Renovated Two-Family
For Sale
$590,000
183 Norman Rd, Newark, NJ 07106
Multi-Family, 2-Two Story, Newark City, NJ
Property Size3,312 SF
Lot Size0.08 Acres
Price / SF$178.14
Days on Market35
Property Features for 183 Norman Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Basement, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3
Parking
2
Interior features
Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Tile Floors, Wood Floors
Directions
Irvington Avenue to Norman Road
Standard status
Active
Size
3,312 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5662
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
washer/dryer in basement
Building Details
Year built
1947
Floors in Building
2
Number of units
2
Roof type
Shingle, Flat
Architectural style
Other
Listing Agency:
BHHS JORDAN BARIS REALTY
(973) 763-7700
Listed By:
PAMELA TAYLOR · License #279259
(973) 736-1600
Added: Sep 2
Changed: Sep 12
Last Checked: Oct 6 at 9:06PM
MLS# 4050185
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 Newark City duplex contains two residential apartments, each arranged with two bedrooms and one full bathroom. The first-floor unit has been renovated with a new kitchen featuring stainless steel refrigerator, stove, granite countertop, and microwave, along with an updated bathroom. Wood and tile flooring, forced-air heating, a basement, and a two-car garage add to the property's functional layout. A washer and dryer are located in the basement.
Built in 1947, the property includes 3,312 square feet on a 0.08-acre lot. Public water and public sewer serve the building, with cable available. The address is in Newark's Ivy Hill section and provides access to neighborhood shopping, services, and major roadways. Buyer is responsible for required city certifications.
Built in 1947, the property includes 3,312 square feet on a 0.08-acre lot. Public water and public sewer serve the building, with cable available. The address is in Newark's Ivy Hill section and provides access to neighborhood shopping, services, and major roadways. Buyer is responsible for required city certifications.
Key Highlights
- Two‑family duplex with 3,312 square feet on a 0.08‑acre lot
- Each apartment includes 2 bedrooms and 1 full bathroom
- Renovated first‑floor kitchen with stainless steel appliances and granite countertop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,030
Cap Rate
8.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,000,600
$1.0M
Cap Rate 7%
$714,714
$714.7K
Cap Rate 9%
$555,889
$555.9K
Market Conditions
NOI Build-Up for 3,312 SF
Gross rent
$97.0K $29.28/SF
− Vacancy
−$6.0K −$1.82/SF
EGI
$91.0K $27.46/SF
− OpEx
−$40.9K −$12.36/SF
NOI
$50.0K $15.11/SF
Area
ZIP 07106
Vacancy
6.20%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,000,600
Cap Rate 7%
$714,714
Cap Rate 9%
$555,889
Alternative Uses
Best Use
Multifamily LT 5
$817.5K
$715.3K – $953.8K
NOI $57,227 @ 7.0% cap · market cap 9.70%
Second Best
Apartment 5plus
$714.7K
$625.4K – $833.8K
NOI $50,030 @ 7.0% cap · market cap 8.48%
Theoretical Best
Office A
$1.30M
$1.13M – $1.51M
NOI $90,696 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,089
Businesses Nearby
Explore this area
Business Placement
Demographics for 07106, NJ
34,596
Population
13,633
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
24,711
Density / Sq Mi
$48,105
Median Household Income
$34,820
Median Earnings
$1,221
Median Rent
$321,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer separate two-bedroom, one-bath layouts with a renovated first-floor apartment.
Where is this duplex located?
The property is located at 183 Norman Rd Newark, NJ.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Two‑family duplex with 3,312 square feet on a 0.08‑acre lot; Each apartment includes 2 bedrooms and 1 full bathroom; Renovated first‑floor kitchen with stainless steel appliances and granite countertop
