Turnkey Two-Family
For Sale
$649,000
18 Girard Avenue, East Orange, NJ 07017
Fully occupied two-family home with recent major renovations and strong existing tenants, offered for sale.
Property Size1,500 SF
Price / SF$432.67
Days on Market86
Property Features for 18 Girard Avenue
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi Family / 1-One Story
Occupancy
100%
Net Operating Income
$51,000
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,795
Amenities
Yes
Asphalt Shingle
Unfinished
Deck
Vinyl Siding
Building Details
Year Built
1900
Listing Agency:
NATIONWIDE HOMES REALTY LLC
(203) 482-0102
Listed By:
ISAAC DEUTSCH · License #308018
(203) 482-0102
Source:
Compass
Added: May 19
Changed: Aug 8
Last Checked: Jul 23 at 2:39AM
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 NATIONWIDE HOMES REALTY LLC
Investment Insights
Based on property information with market context.
This fully occupied two-family residence is well maintained throughout and has undergone major renovations within the last five years. The property is presented as a turnkey investment, with strong existing tenants currently in place.
Located at 18 Girard Avenue in East Orange, New Jersey, the home offers an income-producing setup with rental revenue from both units. For buyers seeking owner occupancy later, the configuration also supports an end-user option to occupy one unit while continuing to collect rental income from the other.
Overall, this is a renovated, income-producing duplex-style property offered for sale with tenants in place.
Located at 18 Girard Avenue in East Orange, New Jersey, the home offers an income-producing setup with rental revenue from both units. For buyers seeking owner occupancy later, the configuration also supports an end-user option to occupy one unit while continuing to collect rental income from the other.
Overall, this is a renovated, income-producing duplex-style property offered for sale with tenants in place.
Key Highlights
- Fully occupied 2‑family home in East Orange with strong existing tenants
- Major renovations completed within the last 5 years
- Basement with unfinished layout
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
$25,104
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
3.87%
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%
$502,080
$502.1K
Cap Rate 7%
$358,629
$358.6K
Cap Rate 9%
$278,933
$278.9K
Market Conditions
NOI Build-Up for 1,500 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
$38.3K $25.56/SF
− Vacancy
−$2.5K −$1.65/SF
EGI
$35.9K $23.91/SF
− OpEx
−$10.8K −$7.17/SF
NOI
$25.1K $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 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%
$502,080
Cap Rate 7%
$358,629
Cap Rate 9%
$278,933
Alternative Uses
Best Use
Multifamily LT 5
$358.6K
$313.8K – $418.4K
NOI $25,104 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$329.5K
$288.3K – $384.5K
NOI $23,067 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$391.7K
$342.7K – $457.0K
NOI $27,418 @ 7.0% cap · market cap 4.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
656
Businesses Nearby
Explore this area
Business Placement
Demographics for 07017, NJ
39,054
Population
16,770
Households
2.3
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
2.3 sq mi
ZIP Area
16,980
Density / Sq Mi
$61,552
Median Household Income
$39,847
Median Earnings
$1,346
Median Rent
$316,700
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 - Fully occupied two-family home with recent major renovations and strong existing tenants, offered for sale.
Where is this duplex located?
The property is located at 18 Girard Avenue East Orange, NJ.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Fully occupied 2‑family home in East Orange with strong existing tenants; Major renovations completed within the last 5 years; Basement with unfinished layout
