Four-Bedroom
231 Renner Ave # 2, Newark, NJ 07112
For Sale
New
Contact for pricing
Second-floor rental with a separate dining room, natural light, and hardwood flooring.
Property Size1,500 SF
Price / SF$1.83
Days on Market2
Property Features for 231 Renner Ave # 2
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Amenities
Finished-Partially
Tile,Wood
Gas-Natural
1
4 Or More Bedrooms,Bath Main,Bath(s) Other,Dining Room,Kitchen,Living Room,Pantry
4
Hookup Available
City/Town Street
Public Water
41X100
0.09
Curbs,Privacy Fence,Sidewalk
Building Details
Year Built
Listing Agency:
COLDWELL BANKER REALTY
(551) 239-8040
Listed By:
Andrea Lew
Source:
Skyrealtyintl
Added: Nov 8
Last Checked: Nov 8 at 4:56PM
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 REALTY
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This second-floor apartment contains 1,500 square feet, with four bedrooms, one full bathroom, and an additional half bath. The layout includes a living room, separate dining room, kitchen with cabinetry and work surfaces, and pantry. Hardwood flooring and tile are listed among the interior finishes, and the unit has natural light. The building dates to 1925.
Key Highlights
- 1,500‑square‑foot second‑floor apartment
- Four bedrooms and one full bath plus a half bath
- Separate living and dining rooms, kitchen, and pantry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,206
Suggested Prices Based on Cap Rates
Cap Rate 5%
$464,120
$464.1K
Cap Rate 7%
$331,514
$331.5K
Cap Rate 9%
$257,844
$257.8K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$44.5K $29.64/SF
− Vacancy
−$2.3K −$1.51/SF
EGI
$42.2K $28.13/SF
− OpEx
−$19.0K −$12.66/SF
NOI
$23.2K $15.47/SF
Area
Newark, NJ
Vacancy
5.10%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$464,120
Cap Rate 7%
$331,514
Cap Rate 9%
$257,844
Alternative Uses
Best Use
Apartment 5plus
$331.5K
$290.1K – $386.8K
NOI $23,206 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$531.5K
$465.0K – $620.1K
NOI $37,203 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,625
Businesses Nearby
Explore this area
Business Placement
Demographics for 07112, NJ
29,773
Population
11,779
Households
2.5
Avg Household Size
34
Median Age
18%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
21,266
Density / Sq Mi
$55,171
Median Household Income
$35,709
Median Earnings
$1,334
Median Rent
$306,100
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Newark, NJ
Properties on Market for Residential income properties in Newark
Frequently Asked Questions
What type of property is this?
Residential income property - Second-floor rental with a separate dining room, natural light, and hardwood flooring.
Where is this residential income property located?
The property is located at 231 Renner Ave # 2 Newark, NJ.
What are key features of this property?
This property features: 1,500‑square‑foot second‑floor apartment; Four bedrooms and one full bath plus a half bath; Separate living and dining rooms, kitchen, and pantry
