Triplex with Three-Zone Heating and
For Sale
$735,000
204 Baltimore Avenue, Hillside, NJ 07205
MULTI_FAMILY - Hillside, NJ
Property Size2,068 SF
Lot Size0.05 Acres
Price / SF$355.42
Days on Market57
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, Bathroom 2, Dining Room, Basement
Parking features
On Street
Patio and Porch features
Porch, Patio
Interior features
Unit 1(1 Bedroom, Dining Room, Kitchen, 1 Bath, Living Room, See Remarks), Unit 2(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Living Room, See Remarks), Unit 3(Dining Room, 2 Bedrooms, Kitchen, 1 Bath)
Exterior features
Patio, Porch(es) - Enclosed, Yard, Porch
Appliances
Water Heater(Electric), 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 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 Parkway N, take exit 140,and follow the directions from 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
Amenities
washer/dryer
Building Details
Year built
1934
Floors in Building
2
Building materials
Stone, Vinyl Siding
Roof type
Asphalt
Additional Structures
See Remarks
Listing Agency:
COLDWELL BANKER REALTY · Coldwell Banker Real Estate
(732) 494-7700
Listed By:
Shina Kaloty
(732) 494-7700
Added: Jun 15
Changed: Aug 9
Last Checked: Aug 10 at 3:06AM
MLS# 2617591R
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 triplex-style income property features three-zone heating and cooling, with three electric meters and three hot water heaters. Construction includes stone and vinyl siding, with a 1934 build date and an asphalt roof.
The layout includes two units in one structure for the first and second units, each with its own entrance. Unit 1 has one bedroom, one full bathroom, a kitchen, living room, and washer/dryer. Unit 2 offers two bedrooms, one full bathroom, a kitchen, dining/living areas, and washer/dryer. The third unit has two bedrooms, one full bathroom, an eat-in kitchen and living room, plus washer/dryer. Exterior amenities include a yard, porch(es) (including an enclosed porch), and a patio.
Utilities are connected to public water and public sewer. Parking is provided via on-street spaces, and the home includes forced-air heating and central air cooling.
The layout includes two units in one structure for the first and second units, each with its own entrance. Unit 1 has one bedroom, one full bathroom, a kitchen, living room, and washer/dryer. Unit 2 offers two bedrooms, one full bathroom, a kitchen, dining/living areas, and washer/dryer. The third unit has two bedrooms, one full bathroom, an eat-in kitchen and living room, plus washer/dryer. Exterior amenities include a yard, porch(es) (including an enclosed porch), and a patio.
Utilities are connected to public water and public sewer. Parking is provided via on-street spaces, and the home includes forced-air heating and central air cooling.
Key Highlights
- Three‑zone heating and cooling with three electric meters and three hot water heaters
- Two units in one structure, with Unit 1 and Unit 2 each having its own entrance
- Unit mix: Unit 1 has 1 bedroom and 1 bath; Units 2 and 3 have 2 bedrooms and 1 bath each
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
4.71%
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 4.71%
Second Best
Apartment 5plus
$454.3K
$397.5K – $530.0K
NOI $31,802 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$540.0K
$472.5K – $630.0K
NOI $37,800 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,076
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
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 - Triplex with three-zone heating and central air, three electric meters, and public water and sewer service.
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 $735,000.
What are key features of this property?
This property features: Three‑zone heating and cooling with three electric meters and three hot water heaters; Two units in one structure, with Unit 1 and Unit 2 each having its own entrance; Unit mix: Unit 1 has 1 bedroom and 1 bath; Units 2 and 3 have 2 bedrooms and 1 bath each
