Two-Family Residential Income
330 Academy Street South Orange, NJ 07079
330 Academy Street, South Orange, NJ, 07079
$899,000
For Sale
$899,000
Two updated units each include an eat-in kitchen, bonus space, in-unit laundry, and off-street parking.
Property Size2,323 SF
Price / SF$386
Days on Market127
Property Features for 330 Academy Street
General Information
- Standard status
- Active
- Size
- 2,323 SF
- Property subtype
- Multi Family / 2-Two Story
Building Details
- Year Built
- 1922
Listing agency
COLDWELL BANKER REALTY
(973) 378-8300
Listed by
KATHERINE ELLIOTT · License #290357
(973) 378-8300
Source
Compass
Added: Mar 18 Updated: Jul 21 at 5:02PM Checked: Jul 21 at 5:02PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
Well-maintained and thoughtfully updated two-family property offering two spacious, flexible residential units. Each unit features a living room, dining area, bonus space, and an eat-in kitchen with refrigerator, dishwasher, stove, and microwave. Interiors include high ceilings, hardwood floors, and large windows for abundant natural light, along with in-unit laundry for added convenience. Off-street parking is available for day-to-day use.
The property is located in South Orange, just moments from Seton Hall University, South Orange Village, and direct NYC transit, supporting strong day-to-day rental demand. Recent improvements include updated kitchens and bathrooms, upgraded electrical and plumbing systems, drainage and foundation work, and major mechanical updates. A new roofing and gutter system was installed in 2025.
This is a residential income property configured as a two-family building with multiple bedrooms per unit and extensive capital upgrades completed.
The property is located in South Orange, just moments from Seton Hall University, South Orange Village, and direct NYC transit, supporting strong day-to-day rental demand. Recent improvements include updated kitchens and bathrooms, upgraded electrical and plumbing systems, drainage and foundation work, and major mechanical updates. A new roofing and gutter system was installed in 2025.
This is a residential income property configured as a two-family building with multiple bedrooms per unit and extensive capital upgrades completed.
Key Highlights
- Two‑family home with updated interiors in each unit: living room, dining area, bonus space, and an eat‑in kitchen
- Each unit includes in‑unit laundry plus off‑street parking for added convenience
- Finished full walkout 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 | $59.4k | $25.56 |
| − Vacancy | −$3.8k | −$1.65 |
| EGI | $55.5k | $23.91 |
| − OpEx | −$16.7k | −$7.17 |
| NOI | $38.9k | $16.74 |
2,323 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$555.4K
$486.0K – $648.0K
NOI $38,878 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$510.3K
$446.5K – $595.4K
NOI $35,723 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$606.6K
$530.8K – $707.7K
NOI $42,461 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two updated units each include an eat-in kitchen, bonus space, in-unit laundry, and off-street parking.
Where is this duplex located?
The property is located at 330 Academy Street South Orange, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two‑family home with updated interiors in each unit: living room, dining area, bonus space, and an eat‑in kitchen; Each unit includes in‑unit laundry plus off‑street parking for added convenience; Finished full walkout basement
