Duplex with Finished
For Sale
$750,000
Pending
309 Smith St, Newark, NJ 07106
Multi-Family, 3-Three Story, Newark City, NJ
Property Size2,572 SF
Lot Size0.06 Acres
Days on Market117
Property Features for 309 Smith St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Basement, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 5, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 1, Bedroom 2, Bathroom 2
Parking
2
Exterior features
Metal Fence, Sidewalk
Fencing
Fenced
Lot features
Level Lot
Directions
Use Map Quest or your GPS.
Standard status
Pending
Size
2,572 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9061
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
2007
Floors in Building
3
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
GLOBAL REALTY RESOURCE
(888) 582-2232
Listed By:
PAUL ANYANWU
(973) 641-5700
Added: May 7
Changed: Aug 19
Last Checked: Aug 31 at 3:06PM
MLS# 4026011
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 2,572-square-foot duplex, built in 2007, contains two residential units. Each unit includes three bedrooms and two full bathrooms, with a private bathroom connected to the primary bedroom. The property also features combined living and dining areas, central air conditioning, and a finished basement. Public water and sewer serve the building, which has a shingle roof, metal fencing, sidewalks, and a fenced exterior.
Located in Newark City, the property is near bus routes and sits on a 0.06-acre lot. The sale is offered in as-is condition, with the buyer or buyers responsible for applying for and paying for the Certificate.
Located in Newark City, the property is near bus routes and sits on a 0.06-acre lot. The sale is offered in as-is condition, with the buyer or buyers responsible for applying for and paying for the Certificate.
Key Highlights
- Two‑unit duplex with 2,572 square feet of property size
- Each unit has 3 bedrooms and 2 full bathrooms
- Finished basement with combined living and dining areas
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
$44,441
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
5.93%
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%
$888,820
$888.8K
Cap Rate 7%
$634,871
$634.9K
Cap Rate 9%
$493,789
$493.8K
Market Conditions
NOI Build-Up for 2,572 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
$67.9K $26.40/SF
− Vacancy
−$4.4K −$1.72/SF
EGI
$63.5K $24.68/SF
− OpEx
−$19.0K −$7.41/SF
NOI
$44.4K $17.28/SF
Area
ZIP 07106
Vacancy
6.50%
Lease Rate
$26.40 /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%
$888,820
Cap Rate 7%
$634,871
Cap Rate 9%
$493,789
Alternative Uses
Best Use
Multifamily LT 5
$634.9K
$555.5K – $740.7K
NOI $44,441 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$555.0K
$485.6K – $647.5K
NOI $38,851 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$1.01M
$880.4K – $1.17M
NOI $70,432 @ 7.0% cap · market cap 9.39%
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
1,127
Businesses Nearby
Explore this area
Business Placement
Demographics for 07106, NJ
34,596
Population
13,633
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
24,711
Density / Sq Mi
$48,105
Median Household Income
$34,820
Median Earnings
$1,221
Median Rent
$321,400
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 offer three bedrooms, two full bathrooms, and central air conditioning per unit.
Where is this duplex located?
The property is located at 309 Smith St Newark, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,572 square feet of property size; Each unit has 3 bedrooms and 2 full bathrooms; Finished basement with combined living and dining areas
