24 Johnson Ave, Newark, NJ 07108
Multi-Family, 2-Two Story - Newark City, NJ
- Added:
- May 1, 2026
- Days on Market:
- 54
- Last Refresh:
- Jun 23 at 10:06 pm
Property Features for 24 Johnson Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room, Kitchen
- Parking
- 2
- Appliances
- Dishwasher, Oven - Gas, Range, Refrigerator, Washer
- Standard status
- Active
- Size
- 2,346 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7318
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air, Multi Units
Building Details
- Year built
- 2002
- Number of units
- 2
- Building materials
- Brick, Vinyl Siding
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent SU ZHENG (866) 201-6210
Listing office EXP REALTY, LLC 28 VALLEY ROAD, Montclair, NJ (866) 201-6210
Listing date May 1, 2026
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.
HighLights
- Year built 2002 with brick and vinyl siding exterior
- Forced‑air heating with central air cooling
- Separate gas and electric utilities
- Appliances included: dishwasher, gas oven, range, refrigerator, and washer
- As‑is sale; can be delivered vacant
- Room layout includes 5 bedrooms, 3 bathrooms, dining room, and kitchen
Overview
The location is described as conveniently close to public transportation, with the remarks indicating the property is about 3 minutes from a bus to NYC. Situated on a 0.1-acre lot, the duplex totals 2,346 square feet, and it is being offered in its current condition.
For buyers looking to occupy one unit and rent the other, the separate utility configuration is a practical fit. For investors, the duplex format provides a clear opportunity to operate as a residential income property. The seller states the current rent is below market, and the remarks point to the potential to align rents over time. As noted in the listing, the sale is being handled as-is, so prospective buyers should factor in inspection and due diligence before proceeding.
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.19104
- Latitude
- 40.72153
