Finished Duplex with Central
For Sale
$865,000
59 Sunset Ave, Newark, NJ 07106
A fully finished duplex offering two residences with central air, forced air heat, and updated finishes ready for occupancy.
Property Size3,819 SF
Price / SF$226.50
Days on Market45
Property Features for 59 Sunset Ave
General Information
Standard status
Active
Size
3,819 SF
Property subtype
Multi Family
Building Details
Year Built
2026
Stories
3
Units
2
Listing Agency:
ROSA AGENCY
Listed By:
SHAWN ROSA · License #274328
(973) 751-1000
Source:
Elliman
Added: Jul 20
Changed: Aug 24
Last Checked: Sep 1 at 6:26PM
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
Investment Insights
Based on property information with market context.
This 100% finished duplex is ready for immediate occupancy. The owner’s unit spans the first and second levels with three bedrooms and 2.5 bathrooms, along with a living room, dining room, eat-in kitchen, and a large recreation room behind a 2-car built-in garage. The second unit is located on the third level and includes three bedrooms and two full bathrooms, plus a living room, dining room, and eat-in kitchen.
Interior finishes include premium oak hardwood and ceramic tile flooring throughout, with granite counters in all kitchens and bathrooms. Both kitchens include a four-piece stainless steel appliance package. The home is equipped with central air conditioning and forced air heat on all levels.
The property is eligible for a 5-year property tax abatement, and the floor plan and virtual tour are available in the media section. Located in the Vailsburg section of Newark’s west ward.
Interior finishes include premium oak hardwood and ceramic tile flooring throughout, with granite counters in all kitchens and bathrooms. Both kitchens include a four-piece stainless steel appliance package. The home is equipped with central air conditioning and forced air heat on all levels.
The property is eligible for a 5-year property tax abatement, and the floor plan and virtual tour are available in the media section. Located in the Vailsburg section of Newark’s west ward.
Key Highlights
- Brand‑new 100% finished Aiden‑model duplex, ready for immediate occupancy (Year built: 2026).
- Owner’s unit spans the first and second levels with 3 bedrooms and 2.5 bathrooms plus a recreation room behind the 2‑car built‑in garage.
- Third‑level unit offers 3 bedrooms and 2 full bathrooms with living room, dining room, and eat‑in kitchen.
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
$65,988
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
7.63%
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%
$1,319,760
$1.3M
Cap Rate 7%
$942,686
$942.7K
Cap Rate 9%
$733,200
$733.2K
Market Conditions
NOI Build-Up for 3,819 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
$100.8K $26.40/SF
− Vacancy
−$6.6K −$1.72/SF
EGI
$94.3K $24.68/SF
− OpEx
−$28.3K −$7.41/SF
NOI
$66.0K $17.28/SF
Area
ZIP 07106
Vacancy
6.50%
Lease Rate
$26.40 /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%
$1,319,760
Cap Rate 7%
$942,686
Cap Rate 9%
$733,200
Alternative Uses
Best Use
Multifamily LT 5
$942.7K
$824.9K – $1.10M
NOI $65,988 @ 7.0% cap · market cap 7.63%
Second Best
Apartment 5plus
$824.1K
$721.1K – $961.5K
NOI $57,688 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$1.49M
$1.31M – $1.74M
NOI $104,579 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,247
Businesses Nearby
Explore this area
Business Placement
Demographics for 07106, NJ
34,596
Population
13,633
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
24,711
Density / Sq Mi
$48,105
Median Household Income
$34,820
Median Earnings
$1,221
Median Rent
$321,400
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 - A fully finished duplex offering two residences with central air, forced air heat, and updated finishes ready for occupancy.
Where is this duplex located?
The property is located at 59 Sunset Ave Newark, NJ.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Brand‑new 100% finished Aiden‑model duplex, ready for immediate occupancy (Year built: 2026).; Owner’s unit spans the first and second levels with 3 bedrooms and 2.5 bathrooms plus a recreation room behind the 2‑car built‑in garage.; Third‑level unit offers 3 bedrooms and 2 full bathrooms with living room, dining room, and eat‑in kitchen.
