Two-Unit Residential Income
309 Smith St Newark, NJ 07106
309 Smith St, Newark, NJ, 07106
$750,000
Pending
For Sale
$750,000
Pending
MULTI_FAMILY - Newark City, NJ
Property Size2,572 SF
Lot Size0.06 Acres
Days on Market71
Property Features for 309 Smith St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 5
- Rooms
- Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 5, Bathroom 2, Bathroom 4, Bedroom 5, Bedroom 6, Bathroom 1, Basement
- Parking
- 2
- Exterior features
- Metal Fence, Sidewalk
- Fencing
- Fenced
- 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
614 N MAPLE AVE, East orange, NJ
Listed by
PAUL ANYANWU
(973) 641-5700
Added: May 7 Checked: Jul 16 at 3:06 pm
MLS# 4026011
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.
Investment Insights
Based on property information with market context.
This for-sale duplex features two separate residential units, each with three bedrooms and two full bathrooms. The master bedroom includes its own private bath in each unit. A living room and dining room combination is included, along with a finished basement that supports additional usable interior space.
The property is located at 309 Smith St in Newark City, Essex County, NJ 07106, with noted convenience to bus routes. The sale is being offered as-is.
For buyers seeking a residential income setup, this configuration provides two self-contained three-bedroom units with two full bathrooms per unit. Each unit’s master suite bath and the presence of a finished basement can appeal to tenants looking for more functional living space. Please note the property will be sold in as-is condition, and the buyer or buyers are responsible for applying for a Certificate.
The property is located at 309 Smith St in Newark City, Essex County, NJ 07106, with noted convenience to bus routes. The sale is being offered as-is.
For buyers seeking a residential income setup, this configuration provides two self-contained three-bedroom units with two full bathrooms per unit. Each unit’s master suite bath and the presence of a finished basement can appeal to tenants looking for more functional living space. Please note the property will be sold in as-is condition, and the buyer or buyers are responsible for applying for a Certificate.
Key Highlights
- Two‑unit home built in 2007; each unit has 3 bedrooms and 2 full bathrooms
- Master bedroom includes its own bath
- Basement included, with a finished basement
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.9k | $26.40 |
| − Vacancy | −$4.4k | −$1.72 |
| EGI | $63.5k | $24.68 |
| − OpEx | −$19.0k | −$7.41 |
| NOI | $44.4k | $17.28 |
2,572 SF · lease $26.40/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two spacious units each offer three bedrooms and two full bathrooms, with a finished basement in the living/dining layout.
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 home built in 2007; each unit has 3 bedrooms and 2 full bathrooms; Master bedroom includes its own bath; Basement included, with a finished basement
