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    Three-Unit Triplex Residential Income Title is generated by Realmo AI

    243 S Clinton St, East Orange, NJ 07018

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    For Sale
    $699,000

    Multi-Family, 3-Three Story, Triplex - East Orange City, NJ

    Lot size:
    0.08 Acres
    Added:
    Jun 3, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for 243 S Clinton St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    3
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Living Room
    Parking
    4
    Interior features
    Carbon Monoxide Detector, Smoke Detector
    Fireplace
    1
    Basement Y/N
    1
    Standard status
    Active
    Lot size
    0.08 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    12075

    Utilities

    Heating system
    Fireplace(s)
    Cooling system
    Multi Units

    Building Details

    Year built
    1900
    Number of units
    3
    Building materials
    Aluminum Siding
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    JOEL MILLER

    Listing agent JOEL MILLER

    Listing office KELLER WILLIAMS MID-TOWN DIRECT 181 MAPLEWOOD AVENUE, Maplewood, NJ

    Listing date Jun 3, 2026

    MLS# 4031949 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.

    HighLights

    • Three‑family residence with unit mix: first‑floor 3BR/1BA, second‑floor 3BR/1BA, and third‑floor 2BR/1BA
    • Kitchens, toilets, and floors updated, with freshly painted interiors
    • First- and third‑floor units are currently vacant, offering an owner‑occupant move‑in option or immediate rental potential
    • Each unit has separate utilities for more efficient operation and simplified management
    • Basement present; heating includes a fireplace
    • Aluminum siding exterior with asphalt shingle roof; driveway leads to an expansive backyard with space for multiple vehicles

    Overview

    This three-unit, three-story triplex is described as exceptionally maintained and renovated, with updated kitchens, updated toilets, updated floors, and freshly painted interiors. Unit configurations include a first-floor unit with three bedrooms and one full bath, a second-floor unit with three bedrooms and one full bath, and a third-floor unit with two bedrooms and one full bath. The property is arranged with separate utilities for each unit, which can simplify day-to-day management and support efficient operations.

    The building is located at 243 S Clinton St in East Orange City, Essex County, NJ (07018). The public remarks note convenient proximity to shops, schools, transportation, and local amenities. A driveway leads to an expansive backyard designed to accommodate multiple vehicles, adding practical outdoor parking and access.

    For tenants, this layout offers three independently served residences with bedroom-count variety across floors. For an owner-occupant, the first and third-floor units are currently vacant according to the remarks, which may allow immediate occupancy while maintaining rental income from the remaining unit. For investors, the separate utilities and updated finishes can support leasing flexibility across the three units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Orange
    County
    Essex
    State
    New Jersey
    Longitude
    -74.22113
    Latitude
    40.75727

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    FAQs

    What type of property is this?
    Triplex - Renovated three-story triplex with separate utilities and updated interiors across three units for flexible owner-occupant or rental use.
    Where is this triplex located?
    The property is located at 243 S Clinton St East Orange, NJ.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: Three‑family residence with unit mix: first‑floor 3BR/1BA, second‑floor 3BR/1BA, and third‑floor 2BR/1BA; Kitchens, toilets, and floors updated, with freshly painted interiors; First- and third‑floor units are currently vacant, offering an owner‑occupant move‑in option or immediate rental potential
    (973) 762-5400
    We can help!
    Listing Contact
    JOEL MILLER
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    243 S Clinton St, East Orange City, NJ 07018-2556
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