2-Unit Duplex With
New
For Sale
$599,900
240 Wainwright St, Newark, NJ 07112
MULTI_FAMILY - Newark City, NJ
Property Size2,400 SF
Lot Size0.09 Acres
Price / SF$249.96
Days on Market2
Property Features for 240 Wainwright St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 2, Basement
Parking
2
Directions
Chancellor Ave to Wainwright
Standard status
Active
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
Electric (Heating), Baseboard
Water source
Public
Amenities
washer/dryer hookups
Building Details
Year built
1959
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
NENO-ROSA AGENCY
(201) 997-7860
Listed By:
MORGAN COUTO
(201) 997-7860
Added: Aug 11
Last Checked: Aug 12 at 1:06AM
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 two-family property contains 2,400 square feet arranged as two apartments, each with 2 bedrooms and a formal living room. New flooring extends throughout the residence, while separate utilities and two washer/dryer hookups support independent household use. A basement adds storage or service space, and the property includes a 2-car garage for off-street parking.
Built in 1959, the structure has electric baseboard heating, a shingle roof, public water, and public sewer. The 0.09-acre parcel is located in Newark City, NJ. The two-unit layout provides a clear configuration for owner occupancy, rental use, or continued multifamily ownership, as supported by the existing floor plan and separate utility setup.
Built in 1959, the structure has electric baseboard heating, a shingle roof, public water, and public sewer. The 0.09-acre parcel is located in Newark City, NJ. The two-unit layout provides a clear configuration for owner occupancy, rental use, or continued multifamily ownership, as supported by the existing floor plan and separate utility setup.
Key Highlights
- Two‑family property with 2,400 square feet
- Two apartments, each with 2 bedrooms and a formal living room
- Separate utilities and two washer/dryer hookups
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,671
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,532
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature separate utilities, laundry hookups, and updated flooring throughout.
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‑family property with 2,400 square feet; Two apartments, each with 2 bedrooms and a formal living room; Separate utilities and two washer/dryer hookups
