Two-Unit Duplex with
New
For Sale
$540,000
388 N 6Th St, Newark, NJ 07107
Multi-Family, 2-Two Story, Newark City, NJ
Property Size1,703 SF
Lot Size0.07 Acres
Price / SF$317.09
Days on Market4
Property Features for 388 N 6Th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2
Patio and Porch features
Patio
Exterior features
Patio, Sidewalk
Directions
3rd Ave west to N. 6th st
Standard status
Active
Size
1,703 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8677
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
laundry room
Building Details
Year built
1917
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX HERITAGE PROPERTIES · RE/MAX International
(908) 879-4700
Listed By:
STEPHANIE N. MANCILLA
(973) 598-1700
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 12 at 3:06PM
MLS# 4051497
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 1,703-square-foot duplex, built in 1917, contains two residential units arranged across two stories. Each unit includes two bedrooms, a kitchen, dining room, living room, and full bathroom. The second-floor unit also has an extra room, while the partially finished basement provides a walkout, laundry room, utility area, and additional tenant-use space.
The property occupies 0.07 acres at 388 N 6th St in Newark City, NJ 07107-2314. Exterior features include a patio and sidewalk. Public water and public sewer serve the property, and the roof is shingle. An underground oil tank was removed in 2020.
The property occupies 0.07 acres at 388 N 6th St in Newark City, NJ 07107-2314. Exterior features include a patio and sidewalk. Public water and public sewer serve the property, and the roof is shingle. An underground oil tank was removed in 2020.
Key Highlights
- Two‑unit duplex with 1,703 square feet of property size
- Each unit offers 2 bedrooms, kitchen, dining room, living room, and full bath
- Partially finished basement with walkout and laundry room
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
$29,065
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
5.38%
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%
$581,300
$581.3K
Cap Rate 7%
$415,214
$415.2K
Cap Rate 9%
$322,944
$322.9K
Market Conditions
NOI Build-Up for 1,703 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
$43.9K $25.80/SF
− Vacancy
−$2.4K −$1.42/SF
EGI
$41.5K $24.38/SF
− OpEx
−$12.5K −$7.31/SF
NOI
$29.1K $17.07/SF
Area
ZIP 07107
Vacancy
5.50%
Lease Rate
$25.80 /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%
$581,300
Cap Rate 7%
$415,214
Cap Rate 9%
$322,944
Alternative Uses
Best Use
Multifamily LT 5
$415.2K
$363.3K – $484.4K
NOI $29,065 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$372.9K
$326.3K – $435.1K
NOI $26,106 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$666.2K
$582.9K – $777.3K
NOI $46,635 @ 7.0% cap · market cap 8.64%
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
1,430
Businesses Nearby
Explore this area
Business Placement
Demographics for 07107, NJ
41,627
Population
16,084
Households
2.6
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
1.6 sq mi
ZIP Area
26,017
Density / Sq Mi
$49,892
Median Household Income
$35,700
Median Earnings
$1,259
Median Rent
$353,300
Median Home Value
Check the figures for this property
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 - Two-story residential income property with separate living areas, shared laundry, patio, and public utilities.
Where is this duplex located?
The property is located at 388 N 6Th St Newark, NJ.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,703 square feet of property size; Each unit offers 2 bedrooms, kitchen, dining room, living room, and full bath; Partially finished basement with walkout and laundry room
