Newark Two-Family Home For
111 Ridgewood Avenue Newark, NJ 07108
111 Ridgewood Avenue, Newark, NJ, 07108
$599,000
For Sale
$599,000
Income-producing two-family home with upside potential in Newark.
Property Size999 SF
Price / SF$599.60
Days on Market179
Property Features for 111 Ridgewood Avenue
General Information
- Standard status
- Active
- Size
- 999 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1890
Listing Agency
EXIT PLATINUM REALTY
(973) 746-4777
Listed by
PATRICK GRANDISON · License #307063
(973) 746-4777
Source
Compass
Added: Jan 23 Updated: Jul 10 at 12:15 pm Checked: Jul 20 at 3:30 am
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 EXIT PLATINUM REALTY
Investment Insights
Based on property information with market context.
This income-producing two-family home in Newark offers upside potential. The property includes two 3-bedroom units, each with separate utilities and access to a private backyard. Unit 1 features 3 bedrooms and 2 full bathrooms, with one bathroom located on the first floor and the second in the finished basement. The first floor also includes a living room and eat-in kitchen. The finished basement provides a second kitchen, two bonus rooms, and direct access to the backyard. Unit 2, situated on the second floor, offers 3 bedrooms, 1 full bathroom, a living room, and an eat-in kitchen. Additional features include separate utilities, baseboard heating systems, street parking, and backyard space. The property size is 999 square feet.
Key Highlights
- Income‑producing two‑family home with upside potential.
- Two spacious 3‑bedroom units.
- Unit 1: Features 3 bedrooms, 2 full bathrooms (one in finished basement), second kitchen, two bonus rooms, and backyard access.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.4k | $25.44 |
| − Vacancy | −$1.2k | −$1.23 |
| EGI | $24.2k | $24.21 |
| − OpEx | −$7.3k | −$7.26 |
| NOI | $16.9k | $16.95 |
999 SF · lease $25.44/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$241.8K
$211.6K – $282.2K
NOI $16,929 @ 7.0% cap · market cap 2.83%
Second Best
Apartment 5plus
$220.8K
$193.2K – $257.6K
NOI $15,455 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$354.0K
$309.7K – $413.0K
NOI $24,777 @ 7.0% cap · market cap 4.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Income-producing two-family home with upside potential in Newark.
Where is this duplex located?
The property is located at 111 Ridgewood Avenue Newark, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Income‑producing two‑family home with upside potential.; Two spacious 3‑bedroom units.; Unit 1: Features 3 bedrooms, 2 full bathrooms (one in finished basement), second kitchen, two bonus rooms, and backyard access.
