Duplex with Detached
170 Summit Avenue, Bloomfield, NJ 07003
For Sale
New
$579,999
Multi-Family, Bloomfield, NJ
Property Size1,608 SF
Lot Size0.09 Acres
Price / SF$360.70
Days on Market3
Property Features for 170 Summit Avenue
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Basement
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Amenities
enclosed front porch
basement
backyard
Building Details
Year built
Floors in Building
Number of units
Buildings
Listing Agency:
RE/MAX Revolution
Listed By:
Michael Balsamo · License #2075835
(732) 724-9018
Added: Nov 5
Last Checked: Nov 7 at 1:06AM
MLS# 22635065
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 1,608-square-foot duplex in Bloomfield contains two distinct living areas, each equipped with a kitchen. The property also includes a basement with storage space, an enclosed front porch, and a detached garage with capacity for two cars. An existing toilet is located in the basement. The home was built in 1927 and is served by public sewer.
The parcel measures 0.09 acres and includes a backyard. Located at 170 Summit Avenue in Bloomfield, the property is offered for sale.
The parcel measures 0.09 acres and includes a backyard. Located at 170 Summit Avenue in Bloomfield, the property is offered for sale.
Key Highlights
- Two separate living areas, each with its own kitchen
- 1,608 square feet of building area
- Detached two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,912
Cap Rate
4.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$538,240
$538.2K
Cap Rate 7%
$384,457
$384.5K
Cap Rate 9%
$299,022
$299.0K
Market Conditions
NOI Build-Up for 1,608 SF
Gross rent
$41.1K $25.56/SF
− Vacancy
−$2.7K −$1.65/SF
EGI
$38.4K $23.91/SF
− OpEx
−$11.5K −$7.17/SF
NOI
$26.9K $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%
$538,240
Cap Rate 7%
$384,457
Cap Rate 9%
$299,022
Alternative Uses
Best Use
Multifamily LT 5
$384.5K
$336.4K – $448.5K
NOI $26,912 @ 7.0% cap · market cap 4.64%
Second Best
Apartment 5plus
$353.3K
$309.1K – $412.1K
NOI $24,728 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$419.9K
$367.4K – $489.9K
NOI $29,392 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
639
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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Market
Properties on Market for Duplexes in Bloomfield
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two independent living areas, each with its own kitchen, provide a flexible residential configuration.
Where is this duplex located?
The property is located at 170 Summit Avenue Bloomfield, NJ.
What is the asking price?
The asking price for this property is $579,999.
What are key features of this property?
This property features: Two separate living areas, each with its own kitchen; 1,608 square feet of building area; Detached two‑car garage
