Three-Unit Multifamily
For Sale
$990,000
19 Halleck St, Newark, NJ 07104
Built in 2001 with three-bedroom units, garage parking, and additional off-street parking.
Property Size5,000 SF
Price / SF$198
Days on Market82
Property Features for 19 Halleck St
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1BA, 2 x 3BR/2BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$17,259
Building Details
Year Built
2001
Listing Agency:
KELLER WILLIAMS REALTY
(201) 628-6025
Listed By:
JOHN MARTINS
(201) 628-6025
Source:
Exprealty
Added: May 20
Changed: Aug 7
Last Checked: Aug 9 at 12:00PM
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 KELLER WILLIAMS REALTY
Investment Insights
Based on property information with market context.
This three-unit residential property in Newark’s North Broadway section was built in 2001 and provides approximately 5,000+ square feet of living space. Each apartment contains three bedrooms. Unit 1 has one full bathroom, while Units 2 and 3 each include two full bathrooms. The layouts feature generously sized rooms, and the property includes a two-car garage plus additional off-street parking.
The property is near major highways, public transportation, schools, and shopping. Its three-apartment configuration supports both an owner-occupant arrangement and a fully rented setup, with the option to occupy one unit while leasing the remaining residences.
The property is near major highways, public transportation, schools, and shopping. Its three-apartment configuration supports both an owner-occupant arrangement and a fully rented setup, with the option to occupy one unit while leasing the remaining residences.
Key Highlights
- Three‑family property with approximately 5,000+ sq ft of living space
- Built in 2001
- Each unit includes 3 bedrooms
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
$85,130
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
8.60%
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%
$1,702,600
$1.7M
Cap Rate 7%
$1,216,143
$1.2M
Cap Rate 9%
$945,889
$945.9K
Market Conditions
NOI Build-Up for 5,000 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
$127.8K $25.56/SF
− Vacancy
−$6.2K −$1.24/SF
EGI
$121.6K $24.32/SF
− OpEx
−$36.5K −$7.30/SF
NOI
$85.1K $17.03/SF
Area
ZIP 07104
Vacancy
4.84%
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%
$1,702,600
Cap Rate 7%
$1,216,143
Cap Rate 9%
$945,889
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.06M – $1.42M
NOI $85,130 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$1.12M
$978.7K – $1.30M
NOI $78,293 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$1.58M
$1.38M – $1.85M
NOI $110,710 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,265
Businesses Nearby
Explore this area
Business Placement
Demographics for 07104, NJ
54,051
Population
21,762
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
2.5 sq mi
ZIP Area
21,620
Density / Sq Mi
$51,199
Median Household Income
$36,139
Median Earnings
$1,343
Median Rent
$337,400
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 - Built in 2001 with three-bedroom units, garage parking, and additional off-street parking.
Where is this triplex located?
The property is located at 19 Halleck St Newark, NJ.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: Three‑family property with approximately 5,000+ sq ft of living space; Built in 2001; Each unit includes 3 bedrooms
