Two-Unit Duplex with
New
For Sale
$615,000
151 N 16Th St, Bloomfield, NJ 07003
Multi-Family, 2-Two Story, Under/Over, Bloomfield Twp., NJ
Property Size1,679 SF
Lot Size0.08 Acres
Price / SF$366.29
Days on Market1
Property Features for 151 N 16Th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2, Basement
Parking
3
Exterior features
Metal Fence
Fencing
Fenced
Lot features
Level Lot
High school
BLOOMFIELD
Directions
From S Oraton Pkwy. Take N Grove St and 1st Ave to N 16th St in Bloomfield. Property will be on the left.
Standard status
Active
Size
1,679 SF
Lot size
0.08 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11150
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Water source
Public
Amenities
shared laundry area
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Roof type
Composition
Architectural style
Other
Buildings
1
Listing Agency:
EXP REALTY, LLC
Listed By:
ABISH SADHWANI
(866) 201-6210
Added: Oct 28
Last Checked: Oct 28 at 10:06PM
MLS# 4061630
Copyright © 2026 Garden State MLS, LLC. 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 1,679-square-foot duplex, built in 1928, contains two apartments: one with three bedrooms and one bath, and another with one bedroom, one full bath, a dining room, kitchen, and living room. The three-bedroom apartment is vacant; the smaller unit has a month-to-month tenant. A basement adds a living area and full bathroom, along with shared laundry equipment. Heating is divided into three zones, one for each floor.
The 0.08-acre property has a two-car garage and driveway parking. Public water and sewer serve the property, which also has a fenced yard and composition roof.
The 0.08-acre property has a two-car garage and driveway parking. Public water and sewer serve the property, which also has a fenced yard and composition roof.
Key Highlights
- Two apartments: one with 3 bedrooms and 1 bath; the other with 1 bedroom and 1 full bath
- 1,679 square feet; built in 1928
- One apartment vacant; the other occupied by a month‑to‑month tenant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,100
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,000
$562.0K
Cap Rate 7%
$401,429
$401.4K
Cap Rate 9%
$312,222
$312.2K
Market Conditions
NOI Build-Up for 1,679 SF
Gross rent
$42.9K $25.56/SF
− Vacancy
−$2.8K −$1.65/SF
EGI
$40.1K $23.91/SF
− OpEx
−$12.0K −$7.17/SF
NOI
$28.1K $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 Rate 5%
$562,000
Cap Rate 7%
$401,429
Cap Rate 9%
$312,222
Alternative Uses
Best Use
Multifamily LT 5
$401.4K
$351.3K – $468.3K
NOI $28,100 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$368.9K
$322.8K – $430.3K
NOI $25,820 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$438.4K
$383.6K – $511.5K
NOI $30,689 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,435
Businesses Nearby
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Business Placement
Demographics for 07003, NJ
52,955
Population
21,692
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
9,992
Density / Sq Mi
$98,805
Median Household Income
$56,465
Median Earnings
$1,775
Median Rent
$447,600
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 - Separate apartments include a vacant three-bedroom unit and an occupied one-bedroom unit with month-to-month tenancy.
Where is this duplex located?
The property is located at 151 N 16Th St Bloomfield, NJ.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Two apartments: one with 3 bedrooms and 1 bath; the other with 1 bedroom and 1 full bath; 1,679 square feet; built in 1928; One apartment vacant; the other occupied by a month‑to‑month tenant
