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    Remodeled Apartment Near Transportation Title is generated by Realmo AI

    19 Northfield Ave 1R, West Orange, NJ 07052

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    For Lease
    $1,975 /Mo

    Modern, renovated apartment with stainless steel appliances and parking.

    Type:Multi Family
    Added:
    May 15, 2026
    Days on Market:
    16
    Last Refresh:
    May 15 at 3:58 pm

    Property Features for 19 Northfield Ave 1R

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    9999

    We can help!

    Listing Contact
    GLORIA PEREZ

    Listing agent GLORIA PEREZ

    Listing office Jordan Baris, Inc. Realtors

    Listing date May 15, 2026

    Source Elliman

    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 Jordan Baris, Inc. Realtors

    HighLights

    • Prime location with a walk score of 86, very walkable to transportation, restaurants, stores, and the Edison Historical Museum
    • Remodeled apartment with modern luxury finishes
    • New flooring and windows create a bright and airy atmosphere
    • Stainless steel appliances included: refrigerator, range, microwave, and dishwasher
    • Dedicated parking spot in the rear
    • Washer and dryer hookup available in the basement

    Overview

    This remodeled first-floor apartment features white cabinetry, white countertops, and stainless steel appliances, including a refrigerator, range, microwave, and dishwasher. New flooring and windows enhance the bright and airy atmosphere. A hookup is available in the basement for a tenant to bring and install their own washer and dryer. The unit includes a dedicated parking spot in the rear for one car. The property is situated within walking distance of transportation options and close to Supreme Bakery, restaurants, stores, and the Edison Historical Museum. The apartment building is the third blue building in the rear parking lot. The location has a walk score of 86, indicating it is very walkable, and a bike score of 46, indicating it is somewhat bikeable. The renovation and condition of the apartment are noted as being in great condition.
    Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Orange
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2405688
    Latitude
    40.776451

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    FAQs

    What type of property is this?
    Residential income property - Modern, renovated apartment with stainless steel appliances and parking.
    Where is this residential income property located?
    The property is located at 19 Northfield Ave 1R West Orange, NJ.
    What is the lease rate?
    The lease rate is $1,975 /Mo.
    What are key features of this property?
    This property features: Prime location with a walk score of 86, very walkable to transportation, restaurants, stores, and the Edison Historical Museum; Remodeled apartment with modern luxury finishes; New flooring and windows create a bright and airy atmosphere
    (973) 736-1600
    We can help!
    Listing Contact
    GLORIA PEREZ
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    19 Northfield Ave 1R, West Orange Twp., NJ 07052-5348
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