Two-Family Residential Income
189 Scheerer Avenue Newark, NJ 07112
For Sale
$650,000
Two-unit home with 6 bedrooms and 2 full baths, delivered fully vacant for flexible occupancy or investment.
Property Size1,250 SF
Price / SF$520
Days on Market101
Property Features for 189 Scheerer Avenue
General Information
- Standard status
- Active
- Size
- 1,250 SF
- Property subtype
- Multi Family / 3-Three Story
Building Details
- Year Built
- 1922
Listing Agency:
RE/MAX SELECT
(973) 539-6300
Listed By:
NICHOLAS GODWIN · License #308992
(973) 539-6300
Source:
Compass
Added: Apr 15
Changed: Jul 23
Last Checked: Jul 23 at 8:30AM
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 RE/MAX SELECT
Investment Insights
Based on property information with market context.
This two-family residential income property offers a total of 6 bedrooms and 2 full baths. Each unit is configured with 3 bedrooms and 1 full bath, along with spacious living areas and functional layouts. Unit 1 is currently vacant, and Unit 2 is owner-occupied; the property will be delivered fully vacant.
Located in a convenient Newark setting, the home is positioned near shopping, dining, parks, and major roadways, providing easy access to surrounding areas.
With separate unit layouts and a fully vacant delivery, the property is well suited for an owner-occupant looking to move in or an investor planning to reposition both units for rental use.
Located in a convenient Newark setting, the home is positioned near shopping, dining, parks, and major roadways, providing easy access to surrounding areas.
With separate unit layouts and a fully vacant delivery, the property is well suited for an owner-occupant looking to move in or an investor planning to reposition both units for rental use.
Key Highlights
- Two‑family home built in 1922 with 6 bedrooms and 2 full baths
- Each unit includes 3 bedrooms and 1 full bath with separate living areas
- Unit 1 is vacant and Unit 2 is currently owner‑occupied; property will be delivered fully vacant
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.8k | $25.44 |
| − Vacancy | −$1.5k | −$1.23 |
| EGI | $30.3k | $24.21 |
| − OpEx | −$9.1k | −$7.26 |
| NOI | $21.2k | $16.95 |
1,250 SF · lease $25.44/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$302.6K
$264.8K – $353.1K
NOI $21,183 @ 7.0% cap · market cap 3.26%
Second Best
Apartment 5plus
$276.3K
$241.7K – $322.3K
NOI $19,338 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$442.9K
$387.5K – $516.7K
NOI $31,003 @ 7.0% cap · market cap 4.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit home with 6 bedrooms and 2 full baths, delivered fully vacant for flexible occupancy or investment.
Where is this duplex located?
The property is located at 189 Scheerer Avenue Newark, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑family home built in 1922 with 6 bedrooms and 2 full baths; Each unit includes 3 bedrooms and 1 full bath with separate living areas; Unit 1 is vacant and Unit 2 is currently owner‑occupied; property will be delivered fully vacant
