Two-Unit Duplex with Flexible
For Sale
$650,000
296-298 N Park Street, East Orange, NJ 07017
Separate residences provide options for owner occupancy, multigenerational living, or rental use.
Property Size2,239 SF
Price / SF$290.31
Days on Market17
Property Features for 296-298 N Park Street
General Information
Standard status
Active
Size
2,239 SF
Property subtype
Multi-family
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
Roman Balandin Realty LLC
Listed By:
Roman Balandin
(833) 740-1234
Source:
Actionplusrealty
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 9 at 11:58AM
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 Roman Balandin Realty LLC
Investment Insights
Based on property information with market context.
This 2,239-square-foot duplex contains two distinct residences within a 1925-built property. The lower-level home includes 2 bedrooms and 1 full bath, while the upper residence extends across two floors with 3 bedrooms and 2 full baths. Each unit has its own living areas and room configuration, creating a practical setup for separate households or an owner-occupant arrangement.
The property is located at 296-298 N Park Street in East Orange, New Jersey. Shopping, dining, public transportation, schools, and major commuting routes are identified in the surrounding area. The five-bedroom, three-bath layout offers flexibility for residential income use, multigenerational occupancy, or living in one residence while renting the other.
The property is located at 296-298 N Park Street in East Orange, New Jersey. Shopping, dining, public transportation, schools, and major commuting routes are identified in the surrounding area. The five-bedroom, three-bath layout offers flexibility for residential income use, multigenerational occupancy, or living in one residence while renting the other.
Key Highlights
- Two separate residential units within a 2,239‑square‑foot duplex
- Five bedrooms and 3 full baths across both residences
- Lower unit includes 2 bedrooms and 1 full bath
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
$37,472
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
5.76%
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%
$749,440
$749.4K
Cap Rate 7%
$535,314
$535.3K
Cap Rate 9%
$416,356
$416.4K
Market Conditions
NOI Build-Up for 2,239 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
$57.2K $25.56/SF
− Vacancy
−$3.7K −$1.65/SF
EGI
$53.5K $23.91/SF
− OpEx
−$16.1K −$7.17/SF
NOI
$37.5K $16.74/SF
Area
Essex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$749,440
Cap Rate 7%
$535,314
Cap Rate 9%
$416,356
Alternative Uses
Best Use
Multifamily LT 5
$535.3K
$468.4K – $624.5K
NOI $37,472 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$491.9K
$430.4K – $573.9K
NOI $34,431 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$584.6K
$511.6K – $682.1K
NOI $40,925 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 07017, NJ
39,054
Population
16,770
Households
2.3
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
2.3 sq mi
ZIP Area
16,980
Density / Sq Mi
$61,552
Median Household Income
$39,847
Median Earnings
$1,346
Median Rent
$316,700
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 - Separate residences provide options for owner occupancy, multigenerational living, or rental use.
Where is this duplex located?
The property is located at 296-298 N Park Street East Orange, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two separate residential units within a 2,239‑square‑foot duplex; Five bedrooms and 3 full baths across both residences; Lower unit includes 2 bedrooms and 1 full bath
