Updated Three-Level Duplex with
For Sale
$699,000
Pending
908 S 16Th St, Newark, NJ 07108
Multi-Family, 3-Three Story, Newark City, NJ
Property Size3,156 SF
Lot Size0.11 Acres
Days on Market109
Property Features for 908 S 16Th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 3, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 8, Bathroom 2, Basement, Bathroom 1, Bedroom 7, Bedroom 2
Parking
4
Security features
Security System
Interior features
Carbon Monoxide Detector, High Ceilings, Security System, Smoke Detector, Walk-In Closet, Wood Floors
Exterior features
Metal Fence, Sidewalk, Storm Window(s)
Fencing
Fenced
Subdivision
Upper Clinton Hill
Lot features
Level Lot
Directions
Conveniently located just off I-78, take the Fabyan Place exit , continue to Clinton Ave and make a left onto S. 16th Street.
Standard status
Pending
Size
3,156 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6930
Utilities
Sewer type
Public Sewer
Heating system
Steam, Other (Heating)
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1915
Floors in Building
3
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS METROPOLITAN · Keller Williams Realty
(973) 539-1120
Listed By:
EMMANUELLE FLEURINOR · License #1754066
(201) 825-1266
Added: Jun 16
Changed: Sep 13
Last Checked: Oct 2 at 1:06PM
MLS# 4034782
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 legal two-family duplex provides 3,156 square feet across three levels and was updated in 2023. The property includes two spacious units with large rooms, wood floors, high ceilings, walk-in closets, and abundant natural light. A finished basement adds flexible bonus space, while a private driveway and detached two car garage support convenient daily use. The 0.11-acre lot also features vinyl siding, metal fencing, sidewalks, storm windows, and public water and sewer service.
The property is located in Newark City near Route 22, I-78, the Garden State Parkway, Newark Liberty International Airport, NJ Transit, shopping, dining, parks, and downtown Newark. Its access to regional transportation includes connections toward New York City.
The property is located in Newark City near Route 22, I-78, the Garden State Parkway, Newark Liberty International Airport, NJ Transit, shopping, dining, parks, and downtown Newark. Its access to regional transportation includes connections toward New York City.
Key Highlights
- Legal two‑family duplex with 3,156 square feet across three levels
- Updated in 2023 with vinyl siding and storm windows
- Detached two car garage, private driveway, and fenced lot
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
$53,482
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
7.65%
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%
$1,069,640
$1.1M
Cap Rate 7%
$764,029
$764.0K
Cap Rate 9%
$594,244
$594.2K
Market Conditions
NOI Build-Up for 3,156 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
$80.3K $25.44/SF
− Vacancy
−$3.9K −$1.23/SF
EGI
$76.4K $24.21/SF
− OpEx
−$22.9K −$7.26/SF
NOI
$53.5K $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%
$1,069,640
Cap Rate 7%
$764,029
Cap Rate 9%
$594,244
Alternative Uses
Best Use
Multifamily LT 5
$764.0K
$668.5K – $891.4K
NOI $53,482 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$697.5K
$610.3K – $813.8K
NOI $48,825 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$1.12M
$978.4K – $1.30M
NOI $78,275 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,484
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Legal two-family layout includes a finished basement, private driveway, and detached two-car garage.
Where is this duplex located?
The property is located at 908 S 16Th St Newark, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Legal two‑family duplex with 3,156 square feet across three levels; Updated in 2023 with vinyl siding and storm windows; Detached two car garage, private driveway, and fenced lot
