11-Bedroom
114-116 2nd St, Newark, NJ 07107
For Sale
New
$899,000
Each level has its own living room, with nearby transit, schools, shopping, and local services.
Property Size4,000 SF
Price / SF$224.75
Days on Market4
Property Features for 114-116 2nd St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
Gas-Natural
5
6
1
2
3
11
See Remarks
4
2.0
Bedrooms,Eat-In Kitchen,Living Room
No
Public Water
3380 SF
0.08
4000
Aluminum Siding
Building Details
Building Size
Listing Agency:
(732) 853-1896
Listed By:
Roger Souaid
Source:
Orangekeyrealty
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 8 at 5:30PM
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 Roger Souaid
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Investment Insights
Based on property information with market context.
At 114-116 2nd St in Newark, this three-family property contains 17 rooms, including 11 bedrooms and 3 full bathrooms. A separate living room on each level provides distinct shared space within the building.
KIPP SPARK Academy and KIPP Justice Academy are directly across the street. Orange Street Station, public transportation, schools, shopping, and local amenities are nearby.
KIPP SPARK Academy and KIPP Justice Academy are directly across the street. Orange Street Station, public transportation, schools, shopping, and local amenities are nearby.
Key Highlights
- Three‑family property with 17 rooms, including 11 bedrooms and 3 full bathrooms
- A living room is provided on each level
- Directly across from KIPP SPARK Academy and KIPP Justice Academy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,267
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,365,340
$1.4M
Cap Rate 7%
$975,243
$975.2K
Cap Rate 9%
$758,522
$758.5K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$103.2K $25.80/SF
− Vacancy
−$5.7K −$1.42/SF
EGI
$97.5K $24.38/SF
− OpEx
−$29.3K −$7.31/SF
NOI
$68.3K $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 Rate 5%
$1,365,340
Cap Rate 7%
$975,243
Cap Rate 9%
$758,522
Alternative Uses
Best Use
Multifamily LT 5
$975.2K
$853.3K – $1.14M
NOI $68,267 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$876.0K
$766.5K – $1.02M
NOI $61,317 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$1.56M
$1.37M – $1.83M
NOI $109,536 @ 7.0% cap · market cap 12.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,740
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
$353,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Newark, NJ
Properties on Market for Triplexes in Newark
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each level has its own living room, with nearby transit, schools, shopping, and local services.
Where is this triplex located?
The property is located at 114-116 2nd St Newark, 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: Three‑family property with 17 rooms, including 11 bedrooms and 3 full bathrooms; A living room is provided on each level; Directly across from KIPP SPARK Academy and KIPP Justice Academy
