Newark Triplex For
For Sale
$539,900
16 Monticello Avenue, Newark, NJ 07106
Triplex property available in Newark, New Jersey.
Property Size1,000 SF
Price / SF$539.90
Days on Market261
Property Features for 16 Monticello Avenue
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Multi Family / 3-Three Story
Taxes and HOA fees
Annual Taxes
$7,849
Amenities
Yes
No
Asphalt Shingle
Finished-Partially
Vinyl Siding
Building Details
Year Built
1930
Listing Agency:
KELLER WILLIAMS - NJ METRO GROUP
Listed By:
JAMES EDGERTON · License #407500
(973) 783-7400
Source:
Compass
Added: Dec 15, 2025
Changed: Sep 2
Last Checked: Jul 21 at 6:50AM
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 KELLER WILLIAMS - NJ METRO GROUP
Investment Insights
Based on property information with market context.
A multifamily property is available for sale. This property is a triplex located in Newark, New Jersey. The property has a size of 1000 square feet and is intended for use as a residential income property.
Key Highlights
- Triplex property - Ideal for investment or multi‑generational living.
- Located in Newark, New Jersey.
- Partially finished basement offers potential for additional living space or storage.
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
$17,279
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
3.20%
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%
$345,580
$345.6K
Cap Rate 7%
$246,843
$246.8K
Cap Rate 9%
$191,989
$192.0K
Market Conditions
NOI Build-Up for 1,000 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
$26.4K $26.40/SF
− Vacancy
−$1.7K −$1.72/SF
EGI
$24.7K $24.68/SF
− OpEx
−$7.4K −$7.41/SF
NOI
$17.3K $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%
$345,580
Cap Rate 7%
$246,843
Cap Rate 9%
$191,989
Alternative Uses
Best Use
Multifamily LT 5
$246.8K
$216.0K – $288.0K
NOI $17,279 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$215.8K
$188.8K – $251.8K
NOI $15,106 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$391.2K
$342.3K – $456.4K
NOI $27,384 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,245
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Triplex property available in Newark, New Jersey.
Where is this triplex located?
The property is located at 16 Monticello Avenue Newark, NJ.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Triplex property - Ideal for investment or multi‑generational living.; Located in Newark, New Jersey.; Partially finished basement offers potential for additional living space or storage.
