2022-Built Duplex with Separate
24 Johnson Ave Newark, NJ 07108
24 Johnson Ave, Newark, NJ, 07108
$595,000
For Sale
$595,000
MULTI_FAMILY - Newark City, NJ
Property Size2,346 SF
Lot Size0.10 Acres
Price / SF$253.62
Days on Market77
Property Features for 24 Johnson Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 2, Bedroom 4
- Parking
- 2
- Standard status
- Active
- Size
- 2,346 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7318
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2002
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
EXP REALTY, LLC
(866) 201-6210
28 VALLEY ROAD #1, Montclair, NJ
Listed by
SU ZHENG
(866) 201-6210
Added: May 1 Checked: Jul 16 at 6:06 pm
MLS# 4024608
Listing URL
Copyright © 2026 Garden State MLS, LLC. 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.
Built in 2022, this duplex at 24 Johnson Ave offers a straightforward two-unit residential income setup. The property includes separate gas and electric utilities, supporting independent operation of each unit. The home is listed for sale as-is, and it can be delivered vacant, which can simplify occupancy plans for an owner-occupant or a new rental operator.
Located in Newark City, Essex County (07108-2867), the seller notes the home is conveniently just minutes from bus service to New York City, making it a practical consideration for commuter households. The current rent is described as below market in the listing remarks.
For investors, this configuration can be attractive when looking for a duplex structure with utility separation. For owner-occupants, the property’s two-unit layout supports living in one side while renting the other. Because the sale is being handled as-is and the delivery can be vacant, buyers should plan to evaluate condition and final occupancy timing accordingly.
Located in Newark City, Essex County (07108-2867), the seller notes the home is conveniently just minutes from bus service to New York City, making it a practical consideration for commuter households. The current rent is described as below market in the listing remarks.
For investors, this configuration can be attractive when looking for a duplex structure with utility separation. For owner-occupants, the property’s two-unit layout supports living in one side while renting the other. Because the sale is being handled as-is and the delivery can be vacant, buyers should plan to evaluate condition and final occupancy timing accordingly.
Key Highlights
- Forced air heating and central air cooling
- Public water and public sewer service
- Shingle roof
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 | $59.7k | $25.44 |
| − Vacancy | −$2.9k | −$1.23 |
| EGI | $56.8k | $24.21 |
| − OpEx | −$17.0k | −$7.26 |
| NOI | $39.8k | $16.95 |
2,346 SF · lease $25.44/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$567.9K
$497.0K – $662.6K
NOI $39,756 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$518.5K
$453.7K – $604.9K
NOI $36,294 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$831.2K
$727.3K – $969.8K
NOI $58,186 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Newly built duplex offered as-is, with separate gas and electric utilities and a layout suited for owner-occupancy and renting.
Where is this duplex located?
The property is located at 24 Johnson Ave Newark, NJ.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Forced air heating and central air cooling; Public water and public sewer service; Shingle roof
