Three-Story Duplex with Detached
New
For Sale
$899,000
108 10Th St, Passaic, NJ 07055
Updated three-level duplex includes separate utilities, flexible finished space, driveway parking, and a detached garage.
Property Size3,700 SF
Lot Size0.11 Acres
Price / SF$242.97
Days on Market3
Property Features for 108 10Th St
General Information
Standard status
Active
Size
3,700 SF
Lot size
0.11 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 4BR/1.5BA, 1 x 3BR/1.5BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$14,813
Building Details
Year Built
1939
Buildings
1
Stories
3
Units
2
Listing Agency:
The Agency One Rock-Franklin Lakes
Listed By:
DIANA DIODONET
(973) 413-5771
Source:
Elliman
Added: Sep 10
Last Checked: Sep 11 at 8:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Agency One Rock-Franklin Lakes
Investment Insights
Based on property information with market context.
This legal two-family property in Passaic, New Jersey, offers over 3,700 square feet of living area on a 5,001-square-foot lot. The building spans three finished levels and contains 16 rooms, including eight bedrooms. The main residences provide four- and three-bedroom layouts, while the completed third floor adds a private one-bedroom arrangement with flexible bonus rooms. Separate utilities support the two-family configuration.
Property features include central air conditioning updated in 2022, forced-air heating, a private multi-car driveway, and a detached garage. The residence was built in 1939 and is situated near local transportation, schools, and shopping. The property lies within a designated flood zone, and insurance requirements should be independently verified.
Property features include central air conditioning updated in 2022, forced-air heating, a private multi-car driveway, and a detached garage. The residence was built in 1939 and is situated near local transportation, schools, and shopping. The property lies within a designated flood zone, and insurance requirements should be independently verified.
Key Highlights
- Over 3,700 sq ft of living area on a 5,001 sq ft lot
- Legal two‑family property with 16 rooms and 8 bedrooms
- Three finished levels with flexible third‑floor living space
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
$61,924
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
6.89%
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%
$1,238,480
$1.2M
Cap Rate 7%
$884,629
$884.6K
Cap Rate 9%
$688,044
$688.0K
Market Conditions
NOI Build-Up for 3,700 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
$94.6K $25.56/SF
− Vacancy
−$6.1K −$1.65/SF
EGI
$88.5K $23.91/SF
− OpEx
−$26.5K −$7.17/SF
NOI
$61.9K $16.74/SF
Area
Passaic 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 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%
$1,238,480
Cap Rate 7%
$884,629
Cap Rate 9%
$688,044
Alternative Uses
Best Use
Multifamily LT 5
$884.6K
$774.1K – $1.03M
NOI $61,924 @ 7.0% cap · market cap 6.89%
Second Best
Apartment 5plus
$812.8K
$711.2K – $948.3K
NOI $56,899 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$966.1K
$845.4K – $1.13M
NOI $67,630 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,743
Businesses Nearby
Explore this area
Business Placement
Demographics for 07055, NJ
70,518
Population
21,019
Households
3.4
Avg Household Size
32
Median Age
17%
College-Educated
67%
High-School Grad
3.1 sq mi
ZIP Area
22,748
Density / Sq Mi
$56,780
Median Household Income
$30,935
Median Earnings
$1,392
Median Rent
$406,500
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 - Updated three-level duplex includes separate utilities, flexible finished space, driveway parking, and a detached garage.
Where is this duplex located?
The property is located at 108 10Th St Passaic, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Over 3,700 sq ft of living area on a 5,001 sq ft lot; Legal two‑family property with 16 rooms and 8 bedrooms; Three finished levels with flexible third‑floor living space
