Duplex with Finished
For Sale
$825,000
19 Montrose St, South Orange, NJ 07079
Two occupied units are complemented by finished basement space, an attic, and a vacant third-floor bonus unit.
Property Size3,268 SF
Price / SF$252.45
Days on Market49
Property Features for 19 Montrose St
General Information
Standard status
Active
Size
3,268 SF
Property subtype
Multi Family Home
Net Operating Income
$36,593
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Building Size
3,268 SF
Year Built
1923
Units
2
Listing Agency:
Re/Max Select
(973) 539-6300
Listed By:
Nicholas Walsh · License #405956
Source:
Betterhomerealestate
Added: Jul 14
Changed: Aug 29
Last Checked: Aug 30 at 5:41PM
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.
Built in 1923, this duplex contains 3,268 square feet of living space with 8 bedrooms and 3 full bathrooms. Both primary units are occupied. The first-floor unit includes a finished basement with two bonus rooms, while an attic adds further interior space. A vacant third-floor bonus unit provides 2 bedrooms and 1 bathroom.
The property is located 1.5 miles from the South Orange Train Station, with access to NYC transportation. Shopping, dining, parks, and major roadways are also nearby, adding convenience for occupants and supporting the property's multifamily configuration.
The property is located 1.5 miles from the South Orange Train Station, with access to NYC transportation. Shopping, dining, parks, and major roadways are also nearby, adding convenience for occupants and supporting the property's multifamily configuration.
Key Highlights
- Duplex with 3,268 square feet of living space
- 8 bedrooms and 3 full bathrooms across the property
- Both primary units are currently occupied
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
$54,694
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
6.63%
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%
$1,093,880
$1.1M
Cap Rate 7%
$781,343
$781.3K
Cap Rate 9%
$607,711
$607.7K
Market Conditions
NOI Build-Up for 3,268 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
$83.5K $25.56/SF
− Vacancy
−$5.4K −$1.65/SF
EGI
$78.1K $23.91/SF
− OpEx
−$23.4K −$7.17/SF
NOI
$54.7K $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%
$1,093,880
Cap Rate 7%
$781,343
Cap Rate 9%
$607,711
Alternative Uses
Best Use
Multifamily LT 5
$781.3K
$683.7K – $911.6K
NOI $54,694 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$717.9K
$628.2K – $837.6K
NOI $50,255 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$853.3K
$746.7K – $995.6K
NOI $59,734 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 07079, NJ
18,597
Population
6,131
Households
3
Avg Household Size
34
Median Age
76%
College-Educated
98%
High-School Grad
2.9 sq mi
ZIP Area
6,413
Density / Sq Mi
$184,769
Median Household Income
$75,829
Median Earnings
$2,067
Median Rent
$808,100
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 - Two occupied units are complemented by finished basement space, an attic, and a vacant third-floor bonus unit.
Where is this duplex located?
The property is located at 19 Montrose St South Orange, NJ.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Duplex with 3,268 square feet of living space; 8 bedrooms and 3 full bathrooms across the property; Both primary units are currently occupied
