New Two-Family
For Sale
$849,000
203 Maple Avenue, Irvington, NJ 07111
Three-level layout includes separate living arrangements, garage access, driveway parking, and a partially fenced backyard.
Property Size1,500 SF
Price / SF$566
Days on Market168
Property Features for 203 Maple Avenue
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi Family / 3-Three Story
Net Operating Income
$9,999
Taxes and HOA fees
Annual Taxes
$3,880
Amenities
No
Yes
Drtiveway
Asphalt Shingle
Carbon Monoxide Detector, Fire Extinguisher, Intercom, Parquet Floors, Smoke Detector, Tile Floors, Walk-In Closet, Wood Floors
Sidewalk, Vinyl Fence
Brick/Block, Vinyl Siding
Building Details
Year Built
2026
Listing Agency:
KELLER WILLIAMS MID-TOWN DIRECT
(973) 589-3050
Listed By:
YISROEL LEHRER · License #408439
(973) 589-3050
Source:
Compass
Added: Mar 17
Changed: Aug 30
Last Checked: Aug 30 at 5:48PM
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 MID-TOWN DIRECT
Investment Insights
Based on property information with market context.
Completed in 2026, this legal two-family duplex offers a three-level configuration with substantial living space and a 2-car garage. The lower level includes a recreation room, half bath, and laundry area. The upper residential unit features three bedrooms, two baths, a primary suite with walk-in closets, and an open kitchen, living, and dining layout with island seating. A separate third-floor unit provides three bedrooms, two baths, its own entrance, an open floor plan, kitchen island, and laundry.
Additional features include double-vanity hallway baths, shower niches, wood and parquet flooring, intercom, smoke and carbon monoxide detectors, and a partially fenced backyard. Driveway parking is available, with a right-side driveway easement. The property is steps from Irvington Park and includes a 10 year home warranty and a 5 year tax abatement.
Additional features include double-vanity hallway baths, shower niches, wood and parquet flooring, intercom, smoke and carbon monoxide detectors, and a partially fenced backyard. Driveway parking is available, with a right-side driveway easement. The property is steps from Irvington Park and includes a 10 year home warranty and a 5 year tax abatement.
Key Highlights
- Legal 2‑family duplex completed in 2026
- Two residential units, each with 3 beds and 2 baths
- 2‑car garage plus driveway parking
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
$25,104
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
2.96%
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%
$502,080
$502.1K
Cap Rate 7%
$358,629
$358.6K
Cap Rate 9%
$278,933
$278.9K
Market Conditions
NOI Build-Up for 1,500 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
$38.3K $25.56/SF
− Vacancy
−$2.5K −$1.65/SF
EGI
$35.9K $23.91/SF
− OpEx
−$10.8K −$7.17/SF
NOI
$25.1K $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%
$502,080
Cap Rate 7%
$358,629
Cap Rate 9%
$278,933
Alternative Uses
Best Use
Multifamily LT 5
$358.6K
$313.8K – $418.4K
NOI $25,104 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$329.5K
$288.3K – $384.5K
NOI $23,067 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$391.7K
$342.7K – $457.0K
NOI $27,418 @ 7.0% cap · market cap 3.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,110
Businesses Nearby
Explore this area
Business Placement
Demographics for 07111, NJ
61,176
Population
24,176
Households
2.5
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
21,095
Density / Sq Mi
$59,232
Median Household Income
$37,640
Median Earnings
$1,324
Median Rent
$291,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Three-level layout includes separate living arrangements, garage access, driveway parking, and a partially fenced backyard.
Where is this duplex located?
The property is located at 203 Maple Avenue Irvington, NJ.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Legal 2‑family duplex completed in 2026; Two residential units, each with 3 beds and 2 baths; 2‑car garage plus driveway parking
