Two-Family Duplex with Off-Street
New
For Sale
$500,000
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$277.78
Days on Market6
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: Aug 16
Changed: Aug 20
Last Checked: Aug 20 at 6:46AM
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 = 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
$30,125
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
6.02%
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%
$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
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
$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 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%
$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 6.02%
Second Best
Apartment 5plus
$395.4K
$346.0K – $461.3K
NOI $27,680 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$470.0K
$411.3K – $548.4K
NOI $32,901 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
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 - 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 $500,000.
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
