Two-Unit Duplex with Detached
New
For Sale
$575,000
21-23 Evergreen Avenue, Newark, NJ 07114
Residential Income, Newark, NJ
Property Size1,680 SF
Lot Size0.08 Acres
Price / SF$342.26
Days on Market3
Property Features for 21-23 Evergreen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Buyer Should Verify
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 3, Bathroom 1, Bathroom 2
Parking features
Garage
Interior features
Unit 1(3 Bedrooms, Kitchen, Living Room, 2+ Baths), Unit 2(3 Bedrooms, Kitchen, 1 Bath)
Exterior features
Private Entrance, Storage Area-Private
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven)
Subdivision
Johnson Estates
Lot features
Corner Lot
Elementary school district
Newark City School District
Middle school district
Newark City School District
High school district
Newark City School District
Directions
Take Frelinghuysen Ave (NJ-27) to Evergreen Ave. Turn onto Evergreen Ave.
Standard status
Active
APN
1403756000000005
Size
1,680 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8330
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1943
Floors in Building
2
Building materials
Vinyl Siding
Roof type
Asphalt
Additional Structures
Storage
Listing Agency:
PETRA BEST REALTY LLC
(732) 442-1400
Listed By:
Maryemma Terron
(732) 510-3920
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 7 at 6:06AM
MLS# 2705738R
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 side-by-side duplex contains two residences, each with three bedrooms, for six bedrooms and three full bathrooms in total. The units span three levels. One is vacant and updated, with recessed lighting and wood flooring. A full basement, private entrances, and a detached garage add to the property’s physical configuration. The 1,680-square-foot building was constructed in 1943 on a 0.0845-acre lot.
The property is in Newark, with access to Newark Penn Station, the Prudential Center, Newark Liberty International Airport, Downtown Newark, shopping, dining, public transportation, and major highways. Lionsgate’s film and television studio development is also nearby.
The property is in Newark, with access to Newark Penn Station, the Prudential Center, Newark Liberty International Airport, Downtown Newark, shopping, dining, public transportation, and major highways. Lionsgate’s film and television studio development is also nearby.
Key Highlights
- Two side‑by‑side units, each with 3 bedrooms
- 6 bedrooms and 3 full bathrooms total
- One vacant, updated residence with recessed lighting and wood flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,469
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$569,380
$569.4K
Cap Rate 7%
$406,700
$406.7K
Cap Rate 9%
$316,322
$316.3K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$42.7K $25.44/SF
− Vacancy
−$2.1K −$1.23/SF
EGI
$40.7K $24.21/SF
− OpEx
−$12.2K −$7.26/SF
NOI
$28.5K $16.95/SF
Area
Newark, NJ
Vacancy
4.84%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$569,380
Cap Rate 7%
$406,700
Cap Rate 9%
$316,322
Alternative Uses
Best Use
Multifamily LT 5
$406.7K
$355.9K – $474.5K
NOI $28,469 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$371.3K
$324.9K – $433.2K
NOI $25,991 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$595.2K
$520.8K – $694.5K
NOI $41,667 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
574
Businesses Nearby
Explore this area
Business Placement
Demographics for 07114, NJ
17,767
Population
4,694
Households
3.8
Avg Household Size
39
Median Age
9%
College-Educated
69%
High-School Grad
7.9 sq mi
ZIP Area
2,249
Density / Sq Mi
$34,167
Median Household Income
$35,916
Median Earnings
$616
Median Rent
$384,700
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences offer separate entrances, with one updated unit currently vacant.
Where is this duplex located?
The property is located at 21-23 Evergreen Avenue Newark, NJ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 3 bedrooms; 6 bedrooms and 3 full bathrooms total; One vacant, updated residence with recessed lighting and wood flooring
