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 Market122
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 · License #1008501
(732) 786-3838
Source:
Actionplusrealty
Added: Jun 20
Changed: Oct 16
Last Checked: Oct 16 at 9:19AM
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
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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 / Yr
$37,472
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
607
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
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
