Two-Family Duplex with Off-Street
For Sale
$475,000
115 Tremont Avenue, East Orange, NJ 07018
Built in 1940, the property provides separate front and side entrances for both residential units.
Property Size1,800 SF
Price / SF$263.89
Days on Market70
Property Features for 115 Tremont Avenue
General Information
Standard status
Active
Size
1,800 SF
Total Parking Spaces
2
Property subtype
Multi-family
Property Condition
Severity
Repairs Needed
Evidence
needs TLC
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1940
Listing Agency:
BLUEXOMES
Listed By:
ELMER D. ARROYO
(833) 740-1234
Source:
Actionplusrealty
Added: Jul 29
Changed: Oct 6
Last Checked: Oct 5 at 8:57PM
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 BLUEXOMES
Investment Insights
Based on property information with market context.
This 1,800-square-foot duplex contains two residential units, including a one-bedroom apartment and a separate two-bedroom apartment with additional space. Both units offer front and side entry points. The property was built in 1940 and requires updates, providing a clear renovation scope for an owner seeking to improve the existing layout. Rear off-street parking accommodates two vehicles, and the property shares a driveway.
The home is situated near the Garden State Parkway, Seton Hall University, and a range of shops and services. Its two-unit configuration, bedroom mix, access arrangement, and parking provide the core physical features of a small multifamily property, while the existing condition allows future improvements to be tailored to the owner's plans.
The home is situated near the Garden State Parkway, Seton Hall University, and a range of shops and services. Its two-unit configuration, bedroom mix, access arrangement, and parking provide the core physical features of a small multifamily property, while the existing condition allows future improvements to be tailored to the owner's plans.
Key Highlights
- Two‑unit duplex with a one‑bedroom unit and a two‑bedroom unit
- 1,800 square feet of total property size
- Built in 1940
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,125
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,500
$602.5K
Cap Rate 7%
$430,357
$430.4K
Cap Rate 9%
$334,722
$334.7K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$46.0K $25.56/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$43.0K $23.91/SF
− OpEx
−$12.9K −$7.17/SF
NOI
$30.1K $16.74/SF
Area
Essex 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 Rate 5%
$602,500
Cap Rate 7%
$430,357
Cap Rate 9%
$334,722
Alternative Uses
Best Use
Multifamily LT 5
$430.4K
$376.6K – $502.1K
NOI $30,125 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$395.4K
$346.0K – $461.3K
NOI $27,680 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$470.0K
$411.3K – $548.4K
NOI $32,901 @ 7.0% cap · market cap 6.93%
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
1,526
Businesses Nearby
Explore this area
Business Placement
Demographics for 07018, NJ
30,429
Population
13,107
Households
2.3
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
1.7 sq mi
ZIP Area
17,899
Density / Sq Mi
$59,039
Median Household Income
$39,630
Median Earnings
$1,410
Median Rent
$314,100
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 - Built in 1940, the property provides separate front and side entrances for both residential units.
Where is this duplex located?
The property is located at 115 Tremont Avenue East Orange, NJ.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑unit duplex with a one‑bedroom unit and a two‑bedroom unit; 1,800 square feet of total property size; Built in 1940
