Renovated Duplex With Finished
For Sale
$749,999
15 Winthrop Terrace, East Orange, NJ 07018
Two residential units feature updated interiors, separate utilities, and flexible finished lower-level space.
Property Size1,300 SF
Price / SF$576.92
Days on Market249
Property Features for 15 Winthrop Terrace
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 6BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$22,000
Amenities
finished basement
bonus rooms
driveway
3.1
Yes
No
Asphalt Shingle
Fire Extinguisher, High Ceilings, Smoke Detector, Vinyl-Linoleum Floors, Walk-In Closet
Bilco-Style Door, Finished, Full, Walkout
Deck
Aluminum Siding
Building Details
Year Built
1920
Listing Agency:
GROUP TWENTY SIX LLC
(201) 969-2626
Listed By:
MICHAEL PERSONETTE · License #295075
(201) 969-2626
Source:
Compass
Added: Dec 25, 2025
Changed: Aug 30
Last Checked: Aug 30 at 5:22PM
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 GROUP TWENTY SIX LLC
Investment Insights
Based on property information with market context.
This fully renovated duplex includes two residential units totaling 9 bedrooms and 3.5 bathrooms, with a finished full basement that adds bonus rooms and walkout access. The first-floor residence offers 3 bedrooms, 1.5 bathrooms, an updated kitchen with new appliances, and access to the lower level. A separate upper residence spans the second and third floors with 6 bedrooms and 2 full bathrooms.
The property has separate utility systems, including 2 boilers, 2 gas meters, and 2 electric meters. Exterior features include aluminum siding, an asphalt-shingle roof, and a deck. Built in 1920, the home is near parks, schools, shopping, and public transportation at 15 Winthrop Terrace in East Orange, New Jersey.
The property has separate utility systems, including 2 boilers, 2 gas meters, and 2 electric meters. Exterior features include aluminum siding, an asphalt-shingle roof, and a deck. Built in 1920, the home is near parks, schools, shopping, and public transportation at 15 Winthrop Terrace in East Orange, New Jersey.
Key Highlights
- Fully renovated duplex with 9 bedrooms and 3.5 bathrooms
- Finished full basement with left and right bonus rooms and walkout access
- First‑floor unit includes 3 bedrooms, 1.5 bathrooms, and an updated 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
$21,757
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
2.90%
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%
$435,140
$435.1K
Cap Rate 7%
$310,814
$310.8K
Cap Rate 9%
$241,744
$241.7K
Market Conditions
NOI Build-Up for 1,300 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
$33.2K $25.56/SF
− Vacancy
−$2.1K −$1.65/SF
EGI
$31.1K $23.91/SF
− OpEx
−$9.3K −$7.17/SF
NOI
$21.8K $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%
$435,140
Cap Rate 7%
$310,814
Cap Rate 9%
$241,744
Alternative Uses
Best Use
Multifamily LT 5
$310.8K
$272.0K – $362.6K
NOI $21,757 @ 7.0% cap · market cap 2.90%
Second Best
Apartment 5plus
$285.6K
$249.9K – $333.2K
NOI $19,991 @ 7.0% cap · market cap 2.67%
Theoretical Best
Office A
$339.5K
$297.0K – $396.0K
NOI $23,762 @ 7.0% cap · market cap 3.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,366
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 - Two residential units feature updated interiors, separate utilities, and flexible finished lower-level space.
Where is this duplex located?
The property is located at 15 Winthrop Terrace East Orange, NJ.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Fully renovated duplex with 9 bedrooms and 3.5 bathrooms; Finished full basement with left and right bonus rooms and walkout access; First‑floor unit includes 3 bedrooms, 1.5 bathrooms, and an updated kitchen
