Two-Family Income Property with
For Sale
$499,000
Pending
177 Linden Avenue, Irvington, NJ 07111
Well-maintained two-family home with separate entrances for both units and off-street parking for up to four vehicles.
Property Size999 SF
Days on Market119
Property Features for 177 Linden Avenue
General Information
Standard status
Pending
Size
999 SF
Total Parking Spaces
6
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,699
Amenities
10
3
3.0
20
Aluminum Siding
Building Details
Year Built
1953
Listing Agency:
PREMIER HOMES
Listed By:
BRUNO SILVA · License #409206
(908) 245-6767
Source:
Compass
Added: May 12
Changed: Aug 8
Last Checked: Jul 24 at 2:52PM
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 PREMIER HOMES
Investment Insights
Based on property information with market context.
This well-maintained two-family home offers separate, privately accessed living areas in a flexible residential income configuration. Unit 1 includes four bedrooms and one full bath with its own private entrance. Unit 2 provides four bedrooms and one full bath with a private entrance, plus a separately accessible attic level featuring two additional bedrooms and a full bath for expanded living options. The property is described as move-in ready, and there is also noted potential to finish a basement unit with a full bathroom.
Outside, the home includes a private driveway accommodating up to four vehicles and two detached garages. The property is located near multiple NJ Transit bus lines and the Irvington Bus Terminal, with easy access to Newark, NYC, and major highways.
From a practical setup standpoint, the home’s separate entrances and attic-level accessibility support independent use while allowing flexibility in how the upper space can function.
Outside, the home includes a private driveway accommodating up to four vehicles and two detached garages. The property is located near multiple NJ Transit bus lines and the Irvington Bus Terminal, with easy access to Newark, NYC, and major highways.
From a practical setup standpoint, the home’s separate entrances and attic-level accessibility support independent use while allowing flexibility in how the upper space can function.
Key Highlights
- Well‑maintained 1953 two‑family home with separate private entrances for both units
- Unit 1: 4 bedrooms and 1 full bath with private entrance
- Unit 2: 4 bedrooms and 1 full bath with private entrance, plus separately accessible attic level with 2 additional bedrooms and a full bath
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
$16,719
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
3.35%
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%
$334,380
$334.4K
Cap Rate 7%
$238,843
$238.8K
Cap Rate 9%
$185,767
$185.8K
Market Conditions
NOI Build-Up for 999 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
$25.5K $25.56/SF
− Vacancy
−$1.6K −$1.65/SF
EGI
$23.9K $23.91/SF
− OpEx
−$7.2K −$7.17/SF
NOI
$16.7K $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%
$334,380
Cap Rate 7%
$238,843
Cap Rate 9%
$185,767
Alternative Uses
Best Use
Multifamily LT 5
$238.8K
$209.0K – $278.7K
NOI $16,719 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$219.5K
$192.0K – $256.1K
NOI $15,363 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$260.9K
$228.3K – $304.3K
NOI $18,260 @ 7.0% cap · market cap 3.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,081
Businesses Nearby
Explore this area
Business Placement
Demographics for 07111, NJ
61,176
Population
24,176
Households
2.5
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
21,095
Density / Sq Mi
$59,232
Median Household Income
$37,640
Median Earnings
$1,324
Median Rent
$291,500
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 - Well-maintained two-family home with separate entrances for both units and off-street parking for up to four vehicles.
Where is this duplex located?
The property is located at 177 Linden Avenue Irvington, NJ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Well‑maintained 1953 two‑family home with separate private entrances for both units; Unit 1: 4 bedrooms and 1 full bath with private entrance; Unit 2: 4 bedrooms and 1 full bath with private entrance, plus separately accessible attic level with 2 additional bedrooms and a full bath
