Three-Unit Triplex with Separate
New
For Sale
$725,000
204 Baltimore Avenue, Hillside, NJ 07205
Residential Income, Hillside, NJ
Property Size2,068 SF
Lot Size0.05 Acres
Price / SF$350.58
Days on Market2
Property Features for 204 Baltimore Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R40T
Zoning description
Buyer Should Verify
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 1, Dining Room, Bathroom 2
Parking features
On Street
Interior features
Unit 1(1 Bedroom, Dining Room, Kitchen, Living Room), Unit 2(Dining Room, 2 Bedrooms, Kitchen, Living Room), Unit 3(Dining Room, 2 Bedrooms, Kitchen, Living Room)
Accessibility
Accessible Approach with Ramp
Appliances
Water Heater(Gas), Water Heater, Unit 1(Dryer, Range/Oven, Refrigerator, Washer), Unit 2(Dryer, Range/Oven, Refrigerator, Washer), Unit 3(Dryer, Range/Oven, Refrigerator, Washer)
Subdivision
West Newark #3
Lot features
Near Shopping, Near Train, Level, Near Public Transit
Elementary school district
Hillside Township School Distr
Middle school district
Hillside Township School Distr
High school district
Hillside Township School Distr
Directions
From Garden State PKWY North take Exit 140, follow the directions on GPS.
Standard status
Active
APN
0700904000000002
Size
2,068 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16383
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1934
Floors in Building
3
Roof type
Asphalt
Listing Agency:
COLDWELL BANKER REALTY · Coldwell Banker Real Estate
(732) 494-7700
Listed By:
Shina Kaloty
(732) 841-3922
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 9:06AM
MLS# 2704316R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,068-square-foot triplex contains three separate residences with a combined five-bedroom layout. The first unit includes one bedroom, a full bathroom, kitchen, dining room, living room, and in-unit laundry. The second and third units each provide two bedrooms, one full bathroom, an eat-in kitchen, dining and living areas, and their own washer and dryer. Separate entrances support distinct household arrangements, including private front and rear access for the second unit.
The property has three electric meters, three gas hot water heaters, and three-zone heating and cooling. Additional features include forced-air heating, central air, public water and sewer, an asphalt roof, and on-street parking. Built in 1934 and recently painted, the property is zoned R40T and offers access to major highways, NYC, shopping, dining, and public transportation.
The property has three electric meters, three gas hot water heaters, and three-zone heating and cooling. Additional features include forced-air heating, central air, public water and sewer, an asphalt roof, and on-street parking. Built in 1934 and recently painted, the property is zoned R40T and offers access to major highways, NYC, shopping, dining, and public transportation.
Key Highlights
- Three‑unit triplex with 2,068 square feet of property size
- Five‑bedroom configuration across three separate residences
- Three electric meters and three gas hot water heaters
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
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Open Analytics
Current Use
Lease Details
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
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Frequently Asked Questions
What type of property is this?
Triplex - Freshly painted property with dedicated utilities and in-unit laundry across all three residences.
Where is this triplex located?
The property is located at 204 Baltimore Avenue 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 triplex with 2,068 square feet of property size; Five‑bedroom configuration across three separate residences; Three electric meters and three gas hot water heaters
