New Construction Two-Family
211 NYE Ave, Newark, NJ 07112
New construction two-family home with modern amenities and separate utilities.
Type:Multi Family
Property size:
3,528 SFLot size:
73.00 AcresPrice / SF:
$243/SF- Added:
- Mar 23, 2026
- Days on Market:
- 69
- Last Refresh:
- Apr 6 at 2:37 am
Property Features for 211 NYE Ave
General Information
- Standard status
- Active
- Size
- 3,528 SF
- Lot size
- 73.00 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 2024
Listing agent ANTONIO COSTA License #238477
Listing office EXIT REALTY LUCKY ASSOCIATES (908) 289-7746
Listing date Mar 23, 2026
Source Exitrealty
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 EXIT REALTY LUCKY ASSOCIATES
HighLights
- Brand new 2‑family home, built in 2024.
- Two spacious apartments, each featuring 3 bedrooms, living room, dining room, kitchen, and 2 baths (1764 sq. ft. each).
- Potential for a 5‑year tax abatement if owner‑occupied.
- Each apartment has separate utilities.
- Enjoy a master bath with double sink and a master bedroom with 2 walk‑in closets in each apartment.
- Central AC/Heat.
Overview
A new two-family home is to be built according to plans. The first floor includes a garage, utility room, and recreation room with a half bath connection to apartment #1. Apartment #1 features 3 bedrooms, a living room, a dining room, a kitchen, and 2 full baths. Apartment #2 also includes 3 bedrooms, a living room, a dining room, a kitchen, and 2 baths. The property will have wood and ceramic floors, central air conditioning and heating, and separate utilities. Each apartment will have laundry hook-ups and 1764 square feet of living space. The master bath will feature a double sink, and the master bedroom will include 2 walk-in closets. The property may qualify for a 5-year tax abetment if owner-occupied.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.8k | $25.44 |
| − Vacancy | −$4.3k | −$1.23 |
| EGI | $85.4k | $24.21 |
| − OpEx | −$25.6k | −$7.26 |
| NOI | $59.8k | $16.95 |
3,528 SF · lease $25.44/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$854.1K
$747.3K – $996.4K
NOI $59,786 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$779.7K
$682.3K – $909.7K
NOI $54,580 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,502 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2152062
- Latitude
- 40.7184362
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - New construction two-family home with modern amenities and separate utilities.
Where is this duplex located?
The property is located at 211 NYE Ave Newark, NJ.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: Brand new 2‑family home, built in 2024.; Two spacious apartments, each featuring 3 bedrooms, living room, dining room, kitchen, and 2 baths (1764 sq. ft. each).; Potential for a 5‑year tax abatement if owner‑occupied.
