Renovated Two-Unit
For Sale
$1,199,000
Pending
35 Wheeler St, Montclair, NJ 07042
Multi-Family, 2-Two Story, Montclair Twp., NJ
Property Size2,534 SF
Days on Market51
Property Features for 35 Wheeler St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bathroom 5, Bedroom 5, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 4, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 7, Basement
Parking
4
Lot features
Level Lot
Directions
Make a left in Woodland Ave Between Willowdale Ave and Maple Ave
Standard status
Pending
Size
2,534 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11564
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX SELECT · RE/MAX International
(973) 575-6005
Listed By:
MICHAEL G GABRIEL · License #299726
(973) 539-6300
Added: Aug 26
Changed: Oct 14
Last Checked: Oct 15 at 11:06AM
MLS# 4048849
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.
Renovated in 2026, this 2,534-square-foot duplex contains two separate residences with a combined seven bedrooms and five full bathrooms. The first-floor unit includes an open living and dining area, an eat-in kitchen with new appliances, three bedrooms, a primary suite with private bath, and laundry. The second residence provides four bedrooms, two full bathrooms, a living and dining area, an eat-in kitchen, and its own laundry. Both units have individual central heating and air conditioning, while the property also features updated electrical and plumbing systems, hardwood floors, recessed lighting, and new interior walls.
A finished walkout basement adds a full bathroom and laundry hookup for flexible additional space. The property includes a two-car garage and driveway parking for up to four additional vehicles. Public water and public sewer serve the home. It is near Glenfield Park, restaurants, shopping, entertainment, and Bay St train station, which offers direct access to New York City.
A finished walkout basement adds a full bathroom and laundry hookup for flexible additional space. The property includes a two-car garage and driveway parking for up to four additional vehicles. Public water and public sewer serve the home. It is near Glenfield Park, restaurants, shopping, entertainment, and Bay St train station, which offers direct access to New York City.
Key Highlights
- Duplex renovated in 2026 with 2,534 square feet
- Two residences with 7 bedrooms and 5 full bathrooms
- Finished walkout basement with full bathroom and laundry hookup
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,409
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$848,180
$848.2K
Cap Rate 7%
$605,843
$605.8K
Cap Rate 9%
$471,211
$471.2K
Market Conditions
NOI Build-Up for 2,534 SF
Gross rent
$64.8K $25.56/SF
− Vacancy
−$4.2K −$1.65/SF
EGI
$60.6K $23.91/SF
− OpEx
−$18.2K −$7.17/SF
NOI
$42.4K $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%
$848,180
Cap Rate 7%
$605,843
Cap Rate 9%
$471,211
Alternative Uses
Best Use
Multifamily LT 5
$605.8K
$530.1K – $706.8K
NOI $42,409 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$556.7K
$487.1K – $649.5K
NOI $38,968 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$661.7K
$579.0K – $772.0K
NOI $46,317 @ 7.0% cap · market cap 3.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,573
Businesses Nearby
Explore this area
Business Placement
Demographics for 07042, NJ
27,384
Population
11,682
Households
2.3
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
7,206
Density / Sq Mi
$127,083
Median Household Income
$75,856
Median Earnings
$2,017
Median Rent
$733,100
Median Home Value
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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 - Two residences offer updated kitchens, private laundry, and flexible lower-level space.
Where is this duplex located?
The property is located at 35 Wheeler St Montclair, NJ.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Duplex renovated in 2026 with 2,534 square feet; Two residences with 7 bedrooms and 5 full bathrooms; Finished walkout basement with full bathroom and laundry hookup
