Three-Story Duplex with Finished
For Sale
$769,000
37 Prospect St, Bloomfield, NJ 07003
Multi-Family, 3-Three Story, Bloomfield Twp., NJ
Property Size2,224 SF
Lot Size0.08 Acres
Price / SF$345.77
Days on Market43
Property Features for 37 Prospect St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 5, Bedroom 6, Basement, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 7, Bathroom 2
Directions
Willow St to Prospect St
Standard status
Active
Size
2,224 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11252
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Other (Heating)
Water source
Public
Amenities
granite countertops
finished attic
laundry hookups
Building Details
Year built
1931
Floors in Building
3
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX CENTRAL · Realty Executives International
(732) 972-1000
Listed By:
RUT OLIVERA · License #395083
(908) 223-5306
Added: Aug 26
Changed: Sep 28
Last Checked: Oct 7 at 3:06AM
MLS# 4049033
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 three-story duplex contains two residential units with three bedrooms apiece within 2,224 square feet. The property was built in 1931 and renovated in 2022, with upgrades to the roof, electrical system, and plumbing. Granite countertops are included in both units, while the finished attic adds usable interior space. A full basement provides additional storage or utility area and includes laundry hookups.
The 0.08-acre property is located 0.6 miles from the train station, with shopping, dining, transportation, and local amenities nearby. Public water and public sewer serve the property. The building is offered as-is.
The 0.08-acre property is located 0.6 miles from the train station, with shopping, dining, transportation, and local amenities nearby. Public water and public sewer serve the property. The building is offered as-is.
Key Highlights
- Two‑family duplex with 3 bedrooms in each unit
- 2,224 square feet across a three‑story layout
- 2022 renovation included roof, electrical, and plumbing upgrades
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,221
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$744,420
$744.4K
Cap Rate 7%
$531,729
$531.7K
Cap Rate 9%
$413,567
$413.6K
Market Conditions
NOI Build-Up for 2,224 SF
Gross rent
$56.8K $25.56/SF
− Vacancy
−$3.7K −$1.65/SF
EGI
$53.2K $23.91/SF
− OpEx
−$16.0K −$7.17/SF
NOI
$37.2K $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 Rate 5%
$744,420
Cap Rate 7%
$531,729
Cap Rate 9%
$413,567
Alternative Uses
Best Use
Multifamily LT 5
$531.7K
$465.3K – $620.4K
NOI $37,221 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$488.6K
$427.5K – $570.0K
NOI $34,201 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$580.7K
$508.1K – $677.5K
NOI $40,651 @ 7.0% cap · market cap 5.29%
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
1,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 07003, NJ
52,955
Population
21,692
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
9,992
Density / Sq Mi
$98,805
Median Household Income
$56,465
Median Earnings
$1,775
Median Rent
$447,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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 - Renovated two-family property with finished attic space, full basement, and convenient rail access.
Where is this duplex located?
The property is located at 37 Prospect St Bloomfield, NJ.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: Two‑family duplex with 3 bedrooms in each unit; 2,224 square feet across a three‑story layout; 2022 renovation included roof, electrical, and plumbing upgrades
