Triplex with Separate
New
For Sale
$725,000
204 Baltimore Ave, Hillside, NJ 07205
Three-unit residential property with private entrances, in-unit laundry, and separately metered utilities.
Property Size2,068 SF
Days on Market3
Property Features for 204 Baltimore Ave
General Information
Standard status
Active
Size
2,068 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR, 2 x 2BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$16,383
Amenities
in-unit washer/dryer
Building Details
Building Size
2,068 SF
Year Built
1934
Stories
3
Listing Agency:
coldwell banker residential brokerage
Listed By:
SHINA KALOTY
(732) 841-3922
Source:
Elliman
Added: Sep 12
Changed: Sep 13
Last Checked: Sep 13 at 6:29AM
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 coldwell banker residential brokerage
Investment Insights
Based on property information with market context.
This 1934 triplex is arranged as three distinct residential units, with separate electric meters, hot water heaters, and 3-zone heating and cooling. The first unit contains 1 bedroom, a full bath, kitchen, and in-unit washer/dryer. A second unit offers 2 bedrooms, a full bath, living room, eat-in kitchen, laundry, and its own front and rear entrances. The third unit also includes 2 bedrooms, a full bath, living room, eat-in kitchen, and in-unit washer/dryer. The property has been freshly painted and is located at 204 Baltimore Ave in Hillside, NJ. The location provides access to NYC, major highways, shopping, dining, and public transportation. WalkScore is 57, TransitScore is 42, and BikeScore is 49.
Key Highlights
- Three‑unit property with 3‑zone heating and cooling
- 3 electric meters and 3 separate hot water heaters
- One 1‑bedroom unit and two 2‑bedroom units
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
$34,610
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
4.77%
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%
$692,200
$692.2K
Cap Rate 7%
$494,429
$494.4K
Cap Rate 9%
$384,556
$384.6K
Market Conditions
NOI Build-Up for 2,068 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
$52.9K $25.56/SF
− Vacancy
−$3.4K −$1.65/SF
EGI
$49.4K $23.91/SF
− OpEx
−$14.8K −$7.17/SF
NOI
$34.6K $16.74/SF
Area
Union 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%
$692,200
Cap Rate 7%
$494,429
Cap Rate 9%
$384,556
Alternative Uses
Best Use
Multifamily LT 5
$494.4K
$432.6K – $576.8K
NOI $34,610 @ 7.0% cap · market cap 4.77%
Second Best
Apartment 5plus
$454.3K
$397.5K – $530.0K
NOI $31,802 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$540.0K
$472.5K – $630.0K
NOI $37,800 @ 7.0% cap · market cap 5.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,187
Businesses Nearby
Explore this area
Business Placement
Demographics for 07205, NJ
22,432
Population
7,550
Households
3
Avg Household Size
39
Median Age
29%
College-Educated
87%
High-School Grad
2.8 sq mi
ZIP Area
8,011
Density / Sq Mi
$98,558
Median Household Income
$47,633
Median Earnings
$1,712
Median Rent
$363,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Triplex - Three-unit residential property with private entrances, in-unit laundry, and separately metered utilities.
Where is this triplex located?
The property is located at 204 Baltimore Ave Hillside, NJ.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Three‑unit property with 3‑zone heating and cooling; 3 electric meters and 3 separate hot water heaters; One 1‑bedroom unit and two 2‑bedroom units
