Two-Unit Duplex with
For Sale
$599,900
Pending
240 Wainwright St, Newark, NJ 07112
Multi-Family, 2-Two Story, Newark City, NJ
Property Size2,400 SF
Lot Size0.09 Acres
Days on Market64
Property Features for 240 Wainwright St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2
Parking
2
Directions
Chancellor Ave to Wainwright
Standard status
Pending
Size
2,400 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5142
Utilities
Sewer type
Public Sewer
Heating system
Steam, Other (Heating)
Water source
Public
Building Details
Year built
1959
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
NENO-ROSA AGENCY
Listed By:
MORGAN COUTO · License #1013312
(201) 997-7860
Added: Aug 11
Changed: Sep 13
Last Checked: Oct 13 at 3:06AM
MLS# 4046310
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.
This Newark duplex contains 2,400 square feet arranged as two apartments, with each unit offering two bedrooms and a formal living room. New flooring extends throughout the property, while separate utilities and two washer/dryer hookups support distinct household operations. A two-car garage provides enclosed parking and additional storage, and the building also includes a basement.
Constructed in 1959, the property occupies 0.09 acres in Newark City, New Jersey. Public water and public sewer serve the building. The roof is shingle-covered, and the heating systems include steam and another heating type identified in the property information.
Constructed in 1959, the property occupies 0.09 acres in Newark City, New Jersey. Public water and public sewer serve the building. The roof is shingle-covered, and the heating systems include steam and another heating type identified in the property information.
Key Highlights
- Two‑unit duplex with 2,400 square feet of total property size
- Each apartment includes 2 bedrooms and a formal living room
- Separate utilities and 2 washer/dryer hookups
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.
How Realmo checks its estimates
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two apartments offer two bedrooms, formal living rooms, separate utilities, and washer/dryer hookups.
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‑unit duplex with 2,400 square feet of total property size; Each apartment includes 2 bedrooms and a formal living room; Separate utilities and 2 washer/dryer hookups
