Updated Two-Unit
New
For Sale
$625,000
132 Court Street, Newark, NJ 07103
Multi-Family, Newark, NJ
Property Size2,603 SF
Lot Size0.04 Acres
Price / SF$240.11
Days on Market2
Property Features for 132 Court Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 1, Bathroom 3, Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 3
Elementary school
Ivy Hill
High school
West Side
Directions
Kearny Ave to Cross St
Standard status
Active
APN
14-02507-0000-00061
Size
2,603 SF
Lot size
0.04 Acres
Utilities
Sewer type
Public Sewer
Heating system
Zoned
Water source
Public
Building Details
Year built
1915
Floors in Building
3
Number of units
2
Listing Agency:
RE/MAX On the Move Realty
Listed By:
Ahron Gordon · License #1967620
(732) 901-0701
Added: Oct 15
Last Checked: Oct 16 at 2:06AM
MLS# 22632594
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,603-square-foot duplex contains two units. One has 2 bedrooms and 1 full bathroom; the other has 3 bedrooms and 2 full bathrooms. Both apartments have remodeled kitchens and bathrooms, along with replacement flooring and refreshed paint. Zoned heating serves the property, which was built in 1915 on a 0.04-acre lot.
Public water and public sewer serve the building.
Public water and public sewer serve the building.
Key Highlights
- Two apartments: one with 2 bedrooms and 1 full bathroom, the other with 3 bedrooms and 2 full bathrooms
- 2,603 square feet of building area on a 0.04‑acre lot
- Kitchens, bathrooms, flooring, and paint updated in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,017
Cap Rate
8.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,040,340
$1.0M
Cap Rate 7%
$743,100
$743.1K
Cap Rate 9%
$577,967
$578.0K
Market Conditions
NOI Build-Up for 2,603 SF
Gross rent
$78.1K $30.00/SF
− Vacancy
−$3.8K −$1.45/SF
EGI
$74.3K $28.55/SF
− OpEx
−$22.3K −$8.56/SF
NOI
$52.0K $19.98/SF
Area
ZIP 07103
Vacancy
4.84%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,040,340
Cap Rate 7%
$743,100
Cap Rate 9%
$577,967
Alternative Uses
Best Use
Multifamily LT 5
$743.1K
$650.2K – $867.0K
NOI $52,017 @ 7.0% cap · market cap 8.32%
Second Best
Apartment 5plus
$675.4K
$591.0K – $788.0K
NOI $47,281 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$931.0K
$814.6K – $1.09M
NOI $65,171 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
5,004
Businesses Nearby
Explore this area
Business Placement
Demographics for 07103, NJ
39,439
Population
13,832
Households
2.9
Avg Household Size
30
Median Age
21%
College-Educated
81%
High-School Grad
2.2 sq mi
ZIP Area
17,927
Density / Sq Mi
$42,397
Median Household Income
$34,278
Median Earnings
$1,289
Median Rent
$259,300
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
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct apartment layouts provide a mix of two- and three-bedroom living spaces.
Where is this duplex located?
The property is located at 132 Court Street Newark, NJ.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two apartments: one with 2 bedrooms and 1 full bathroom, the other with 3 bedrooms and 2 full bathrooms; 2,603 square feet of building area on a 0.04‑acre lot; Kitchens, bathrooms, flooring, and paint updated in both units
