Two-Unit Duplex with
For Sale
$599,900
Pending
240 Wainwright St, Newark, NJ 07112
Two-family layout with updated flooring, separate utilities, laundry hookups, and off-street parking.
Property Size2,400 SF
Days on Market65
Property Features for 240 Wainwright St
General Information
Standard status
Pending
Size
2,400 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
washer/dryer hookups
extra storage
Building Details
Year Built
1959
Buildings
1
Listing Agency:
NENO-ROSA AGENCY
Listed By:
Morgan Couto · License #305422
(201) 997-7860
Source:
Sellwithsikora
Added: Aug 13
Changed: Oct 8
Last Checked: Oct 14 at 8:15PM
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 NENO-ROSA AGENCY
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Investment Insights
Based on property information with market context.
This two-unit duplex offers a practical residential configuration, with each apartment arranged with two bedrooms and a formal living room. New flooring has been installed throughout, while separate utilities support independent household operation. Each unit also has access to a washer and dryer hookup.
A two-car garage provides off-street parking and additional storage. Built in 1959, the property is located in Newark, NJ, with a Walk Score of 80, a Transit Score of 59, and a Bike Score of 41.
A two-car garage provides off-street parking and additional storage. Built in 1959, the property is located in Newark, NJ, with a Walk Score of 80, a Transit Score of 59, and a Bike Score of 41.
Key Highlights
- Two apartments, each with 2 bedrooms and a formal living room
- New flooring installed throughout the property
- Separate utilities for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,671
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$813,420
$813.4K
Cap Rate 7%
$581,014
$581.0K
Cap Rate 9%
$451,900
$451.9K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$61.1K $25.44/SF
− Vacancy
−$3.0K −$1.23/SF
EGI
$58.1K $24.21/SF
− OpEx
−$17.4K −$7.26/SF
NOI
$40.7K $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%
$813,420
Cap Rate 7%
$581,014
Cap Rate 9%
$451,900
Alternative Uses
Best Use
Multifamily LT 5
$581.0K
$508.4K – $677.9K
NOI $40,671 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$530.4K
$464.1K – $618.8K
NOI $37,129 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$850.4K
$744.1K – $992.1K
NOI $59,525 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,733
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family layout with updated flooring, separate utilities, laundry hookups, and off-street parking.
Where is this duplex located?
The property is located at 240 Wainwright St Newark, NJ.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and a formal living room; New flooring installed throughout the property; Separate utilities for each apartment
