2021 Three-Unit
For Sale
$999,999
784 Bergen Street, Newark, NJ 07108
Residential Income, Newark, NJ
Property Size4,320 SF
Lot Size0.09 Acres
Price / SF$231.48
Days on Market11
Property Features for 784 Bergen Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Buyer Should Verify
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 3, Bathroom 5, Bathroom 1, Dining Room, Bathroom 6, Bathroom 4, Bathroom 2
Parking features
Garage
Interior features
Unit 1(2 Bedrooms, Kitchen, Laundry Hookup, Living Room, 2+ Baths), Unit 2(3 Bedrooms, Kitchen, Laundry Hookup, Living Room, 2+ Baths), Unit 3(Dining Room, 3 Bedrooms, Kitchen, Laundry Hookup, Living Room, 2+ Baths)
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator), Unit 3(Range/Oven, Refrigerator)
Lot features
Easements/ Right of Way, Near Public Transit
Elementary school district
Newark City School District
Middle school district
Newark City School District
High school district
Newark City School District
Standard status
Active
APN
140271200000003502
Size
4,320 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Zoned
Cooling system
Central Air
Water source
Public
Amenities
Central Air
Double Garage
Building Details
Year built
2021
Floors in Building
3
Building materials
Brick Veneer
Listing Agency:
KELLER WILLIAMS ELITE REALTORS · Keller Williams Realty
Listed By:
Kiara Green
(732) 549-1998
Added: Aug 25
Changed: Sep 2
Last Checked: Sep 4 at 2:06AM
MLS# 2703382R
Copyright © 2026 All Jersey MLS. 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.
Built in 2021, this three-unit triplex at 784 Bergen Street contains 4,320 square feet on a 0.0904-acre lot. The property includes three residential units with a combined 8 bedrooms and 6 bathrooms. Unit 1 has two bedrooms, while Units 2 and 3 each offer three bedrooms; all include a kitchen, living room, laundry hookup, and 2+ baths, with Unit 3 also featuring a dining room.
The building has brick-veneer construction, central air, and zoned forced-air heating. Kitchens are equipped with range/ovens and refrigerators, and the property includes gas water heating, public water, public sewer, and a garage. Located in Newark, the property is near public transportation, shopping, parks, restaurants, and everyday conveniences.
The building has brick-veneer construction, central air, and zoned forced-air heating. Kitchens are equipped with range/ovens and refrigerators, and the property includes gas water heating, public water, public sewer, and a garage. Located in Newark, the property is near public transportation, shopping, parks, restaurants, and everyday conveniences.
Key Highlights
- Three‑unit property with 8 bedrooms and 6 bathrooms
- Built in 2021 with 4,320 square feet of property size
- Unit mix includes one 2‑bedroom unit and two 3‑bedroom units
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
$73,207
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
7.32%
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%
$1,464,140
$1.5M
Cap Rate 7%
$1,045,814
$1.0M
Cap Rate 9%
$813,411
$813.4K
Market Conditions
NOI Build-Up for 4,320 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
$109.9K $25.44/SF
− Vacancy
−$5.3K −$1.23/SF
EGI
$104.6K $24.21/SF
− OpEx
−$31.4K −$7.26/SF
NOI
$73.2K $16.95/SF
Area
Newark, NJ
Vacancy
4.84%
Lease Rate
$25.44 /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%
$1,464,140
Cap Rate 7%
$1,045,814
Cap Rate 9%
$813,411
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$915.1K – $1.22M
NOI $73,207 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$954.8K
$835.4K – $1.11M
NOI $66,833 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,145 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,258
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?
Triplex - Modern brick-veneer construction includes central air, zoned forced-air heating, and a double garage.
Where is this triplex located?
The property is located at 784 Bergen Street Newark, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Three‑unit property with 8 bedrooms and 6 bathrooms; Built in 2021 with 4,320 square feet of property size; Unit mix includes one 2‑bedroom unit and two 3‑bedroom units
