Renovated Triplex with
New
For Sale
$699,000
18 Winfield St, West Orange, NJ 07052
Multi-Family, 3-Three Story, West Orange Twp., NJ
Property Size2,832 SF
Lot Size0.09 Acres
Price / SF$246.82
Days on Market5
Property Features for 18 Winfield St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Basement, Bathroom 3
Parking
2
Directions
Kirk St. to Winfield St.
Standard status
Active
Size
2,832 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13804
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Amenities
storage
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
REAL
(855) 450-0442
Listed By:
MICHAEL WILCHES
Added: Aug 18
Changed: Aug 22
Last Checked: Aug 22 at 4:06PM
MLS# 4047556
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.
Investment Insights
Based on property information with market context.
This three-unit residential property contains 2,832 square feet and was built in 1920. The first unit has two bedrooms, one full bathroom, a spacious living area, and a renovated kitchen with granite counters, stainless steel appliances, refreshed cabinetry, and updated finishes. Its bathroom includes porcelain flooring. The second unit has one bedroom and a month-to-month tenant, while the third unit provides one bedroom, quartz countertops, updated cabinetry, and a renovated bathroom with porcelain flooring.
The property includes three separate boilers, an unfinished basement for storage, a driveway sized for up to five vehicles, and a detached two-car garage. A new sewer line has been installed, with public water and public sewer serving the property. The 0.09-acre site is located in West Orange Township, with a bus stop across the street and access to parks, shopping, dining, and NYC transportation. Eagle Rock Reservation is nearby, and Montclair’s Bloomfield Avenue is approximately four minutes away.
The property includes three separate boilers, an unfinished basement for storage, a driveway sized for up to five vehicles, and a detached two-car garage. A new sewer line has been installed, with public water and public sewer serving the property. The 0.09-acre site is located in West Orange Township, with a bus stop across the street and access to parks, shopping, dining, and NYC transportation. Eagle Rock Reservation is nearby, and Montclair’s Bloomfield Avenue is approximately four minutes away.
Key Highlights
- Three‑unit property with 2,832 square feet on a 0.09‑acre lot
- Unit mix includes one two‑bedroom unit and two one‑bedroom units
- First unit to be delivered vacant; second unit has a month‑to‑month tenant
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
$47,397
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
6.78%
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%
$947,940
$947.9K
Cap Rate 7%
$677,100
$677.1K
Cap Rate 9%
$526,633
$526.6K
Market Conditions
NOI Build-Up for 2,832 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
$72.4K $25.56/SF
− Vacancy
−$4.7K −$1.65/SF
EGI
$67.7K $23.91/SF
− OpEx
−$20.3K −$7.17/SF
NOI
$47.4K $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%
$947,940
Cap Rate 7%
$677,100
Cap Rate 9%
$526,633
Alternative Uses
Best Use
Multifamily LT 5
$677.1K
$592.5K – $790.0K
NOI $47,397 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$622.1K
$544.4K – $725.8K
NOI $43,550 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$739.5K
$647.1K – $862.7K
NOI $51,764 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 07052, NJ
48,867
Population
18,300
Households
2.7
Avg Household Size
42
Median Age
53%
College-Educated
92%
High-School Grad
12.0 sq mi
ZIP Area
4,072
Density / Sq Mi
$131,456
Median Household Income
$63,458
Median Earnings
$1,791
Median Rent
$527,200
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?
Triplex - Three-unit property with updated interiors, separate heating systems, and convenient public transportation access.
Where is this triplex located?
The property is located at 18 Winfield St West Orange, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three‑unit property with 2,832 square feet on a 0.09‑acre lot; Unit mix includes one two‑bedroom unit and two one‑bedroom units; First unit to be delivered vacant; second unit has a month‑to‑month tenant
