Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Spacious Newark Apartment for Rent Title is generated by Realmo AI

    159 Lafayette St 3, Newark, NJ 07105

    View on Map
    Claim this Listing
    For Lease
    $12 SF/Yr

    2-bedroom, 1-bath apartment with hardwood floors and central air.

    Type:Multi Family
    Added:
    Apr 15, 2026
    Days on Market:
    52
    Last Refresh:
    Mar 31 at 4:19 am

    Property Features for 159 Lafayette St 3

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    VANESSA SOARES

    Listing agent CARLA FERREIRA

    Listing office ROSA AGENCY

    Listing date Apr 15, 2026

    Source Elliman

    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 ROSA AGENCY

    HighLights

    • Walker's Paradise: Enjoy exceptional walkability with a Walk Score of 93.
    • Excellent Transit: Convenient access to public transportation with a Transit Score of 83.
    • Central Air Conditioning: Provides year‑round comfort.
    • Hardwood Floors: Offers a classic and desirable aesthetic.
    • Convenient Location: Close to shopping, restaurants, and major highways.
    • On‑site Laundry: Laundry facilities located in the basement.

    Overview

    This spacious 2-bedroom, 1-bath apartment is located on the 3rd floor of a well-maintained building in Newark. The unit features hardwood floors throughout and central air for year-round comfort. The apartment offers a bright and functional layout with plenty of natural light. Laundry facilities are available in the basement. The location is near shopping, restaurants, public transportation, and major highways. The bike score is 55, indicating it is bikeable. The walk score is 93, designating it as a walker's paradise. The transit score is 83, indicating excellent transit options.
    Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Real Estate Agency Spa & Massage Center Restaurant Dental Office Law Firm Hair Salon Gym & Fitness Center Building Supply Nail Salon Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.1661022
    Latitude
    40.7307034

    Nearby Similar for Lease

    • $3,000/Mo
      150,050 SF

      Retail Space in Newark City

      1500 sq ft retail space in high-traffic Newark location.
      650 Mount Prospect Ave, Newark City, NJ 07104-5908
      View Details
    • $1,900/Mo

      Commercial Property in Newark's Ironbound

      Commercial property in Newark's Ironbound, suitable for various business uses.
      43 Merchant St, Newark City, NJ 07105-2814
      View Details
    • $1,000/Mo

      Commercial Property in Newark's Ironbound

      Commercial property in Newark's Ironbound section, suitable for various businesses.
      43 Merchant St, Newark City, NJ 07105-2814
      View Details
    • $1,250/Mo

      Prime Commercial Space in Newark

      Commercial property in Newark's Ironbound, flexible options for businesses.
      43 Merchant St, Newark City, NJ 07105-2814
      View Details
    • $2,500/Mo
      19,256 SF

      Newark City Commercial Units For Rent

      Four commercial units available for rent in Newark City, NJ.
      536-540 Central Ave, Newark City, NJ 07107-1420
      View Details
    • $4,000/Mo
      1,500 SF

      Renovated Commercial Space, Newark City

      1,500 sq ft renovated commercial space for lease.
      654 Mount Prospect Ave, Newark City, NJ 07104-3110
      View Details
    • $1,350/Mo
      1,400 SF

      Prime Newark City Commercial Space

      Versatile 1,400 sq ft commercial space in high-growth Newark neighborhood.
      402 Hawthorne Ave, Newark City, NJ 07112-1643
      View Details
    • $4,000/Mo
      19,256 SF

      Newark City Commercial Units For Rent

      Four commercial units available for rent in Newark City, NJ.
      536-540 Central Ave, Newark City, NJ 07107-1420
      View Details
    • $1,650/Mo

      Newark City Commercial Space Available

      Commercial space in a dynamic, walkable Newark City location.
      15 Warren St, Newark City, NJ 07102-3088
      View Details
    • $3,500/Mo

      Renovated Commercial Space in Newark

      Move-in-ready commercial storefront in a growing Newark neighborhood.
      81 Tremont Ave, Newark City, NJ 07106-1229
      View Details
    • $16,750/Mo
      22,024 SF

      Newark Industrial Space For Lease

      Versatile industrial facility in Newark's Ironbound section, ideal for various operations.
      370 -376 Adams St, Newark City, NJ 07114-2902
      View Details
    • $1,800/Mo
      1,000 SF

      Newark City Office Space Available

      New construction office space for rent in Newark City.
      76 Pacific St, Newark City, NJ 07105-1604
      View Details

    FAQs

    What type of property is this?
    Residential income property - 2-bedroom, 1-bath apartment with hardwood floors and central air.
    Where is this residential income property located?
    The property is located at 159 Lafayette St 3 Newark, NJ.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Walker's Paradise: Enjoy exceptional walkability with a Walk Score of 93.; Excellent Transit: Convenient access to public transportation with a Transit Score of 83.; Central Air Conditioning: Provides year‑round comfort.
    (973) 589-7550
    We can help!
    Listing Contact
    VANESSA SOARES
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    159 Lafayette St 3, Newark, NJ 07105-1992
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!