Two-Unit Duplex
For Sale
$650,000
296-298 N Park Street, East Orange, NJ 07017
Multi-Family, East Orange, NJ
Property Size2,239 SF
Lot Size0.07 Acres
Price / SF$290.31
Days on Market54
Property Features for 296-298 N Park Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 5, Bedroom 4, Bathroom 3, Basement, Bedroom 3, Bathroom 1
Parking features
Off Street
Directions
From I-280, take Exit 13, turn onto N Clinton St, then Dodd St, and left onto N Park St. Property is on the right at 296-298 N Park St.
Standard status
Active
APN
05-00905-0000-00019
Size
2,239 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11185
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Number of units
2
Flooring type
Wood
Listing Agency:
Roman Balandin Realty LLC
(732) 786-3838
Listed By:
Roman Balandin · License #1008501
(908) 291-3336
Added: Jul 28
Changed: Sep 15
Last Checked: Sep 19 at 8:06PM
MLS# 22623080
Copyright © 2026 More MLS. 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 2,239-square-foot duplex, built in 1925, contains two separate residential units. The first-floor apartment includes two bedrooms and one full bathroom, while the upper-level residence provides three bedrooms and two full bathrooms across the second and third floors. Wood flooring, spacious rooms, and distinct living areas are featured throughout the property. Public water and public sewer serve the building, and off-street parking is available.
Situated on a 0.07-acre lot at 296-298 N Park Street in East Orange, New Jersey, the property is near shopping, dining, schools, public transportation, and major commuting routes. The five-bedroom, three-bathroom configuration supports either occupancy of both units or an owner-occupant arrangement with rental use in the other residence.
Situated on a 0.07-acre lot at 296-298 N Park Street in East Orange, New Jersey, the property is near shopping, dining, schools, public transportation, and major commuting routes. The five-bedroom, three-bathroom configuration supports either occupancy of both units or an owner-occupant arrangement with rental use in the other residence.
Key Highlights
- Two separate residential units with a combined 5 bedrooms and 3 full bathrooms
- 2,239 square feet on a 0.07‑acre lot
- First‑floor unit offers 2 bedrooms and 1 full bathroom
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
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Open Analytics
Current Use
Lease Details
2
Residential units
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
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 - Separate residential units offer flexible owner-occupant or rental use with off-street parking.
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 with a combined 5 bedrooms and 3 full bathrooms; 2,239 square feet on a 0.07‑acre lot; First‑floor unit offers 2 bedrooms and 1 full bathroom
