Duplex With Separate Gas and
For Sale
$595,000
24 Johnson Ave, Newark, NJ 07108
MULTI_FAMILY - Newark City, NJ
Property Size2,346 SF
Lot Size0.10 Acres
Price / SF$253.62
Days on Market98
Property Features for 24 Johnson Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 2, Bathroom 1
Parking
2
Directions
Google Map
Standard status
Active
Size
2,346 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7318
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2002
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
SU ZHENG · License #2078658
(866) 201-6210
Added: May 1
Changed: Aug 3
Last Checked: Aug 6 at 7:06AM
MLS# 4024608
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.
Duplex-style property built in 2002, offered for sale “as is.” The home is designed for flexible living and tenancy, with separate gas and electric utilities to support an owner-occupant setup (live in one unit and rent the other). Forced-air heating and central air conditioning are in place.
The property is connected to public water and public sewer, with a shingle roof. It includes rooms described as five bedrooms and two bathrooms across the home’s layout.
Outside, the site is listed at 0.1 acres. The house can be delivered vacant. Information is provided with an on-site address at 24 Johnson Ave, Newark City, NJ 07108-2867.
The property is connected to public water and public sewer, with a shingle roof. It includes rooms described as five bedrooms and two bathrooms across the home’s layout.
Outside, the site is listed at 0.1 acres. The house can be delivered vacant. Information is provided with an on-site address at 24 Johnson Ave, Newark City, NJ 07108-2867.
Key Highlights
- Duplex‑style property built in 2002
- Separate gas and electric utilities for each unit
- Forced air heating and central air conditioning
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.7k | $25.44 |
| − Vacancy | −$2.9k | −$1.23 |
| EGI | $56.8k | $24.21 |
| − OpEx | −$17.0k | −$7.26 |
| NOI | $39.8k | $16.95 |
2,346 SF · lease $25.44/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$567.9K
$497.0K – $662.6K
NOI $39,756 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$518.5K
$453.7K – $604.9K
NOI $36,294 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$831.2K
$727.3K – $969.8K
NOI $58,186 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 07108, NJ
28,715
Population
12,862
Households
2.2
Avg Household Size
32
Median Age
17%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
20,511
Density / Sq Mi
$33,960
Median Household Income
$30,336
Median Earnings
$1,098
Median Rent
$326,900
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 - Duplex-style home with separate gas and electric utilities, forced-air heat, and central air on a small lot.
Where is this duplex located?
The property is located at 24 Johnson Ave Newark, NJ.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Duplex‑style property built in 2002; Separate gas and electric utilities for each unit; Forced air heating and central air conditioning
