Updated Three-Unit Apartment
For Sale
$785,000
374 Boyden Ave, Maplewood, NJ 07040
MULTI_FAMILY - Maplewood Twp., NJ
Property Size2,854 SF
Lot Size0.12 Acres
Price / SF$275.05
Days on Market9
Property Features for 374 Boyden Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 6, Bathroom 1, Bathroom 3, Basement, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 7, Bathroom 2
Parking
6
Patio and Porch features
Patio, Deck
Exterior features
Deck, OpenPrch, Patio, FencVnyl
Fencing
Fenced
Lot features
Level Lot
Directions
Valley St to Boyden Ave
Standard status
Active
Size
2,854 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15124
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Other (Heating), Steam, Hot Water(Heating), Baseboard
Water source
Public
Building Details
Year built
1927
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS VILLAGE SQUARE · Keller Williams Realty
(201) 445-4300
Listed By:
JAVIER RIVERA
(201) 445-4300
Added: Aug 3
Changed: Aug 10
Last Checked: Aug 11 at 12:06PM
MLS# 4044430
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 2,854-square-foot triplex contains three full-floor apartments and is currently fully occupied. Built in 1927, the property includes a basement, deck, patio, vinyl fencing, shingle roofing, and a combination of steam, hot water, and baseboard heating. The legal three-family configuration supports separate residential units within a compact income-producing property.
Set on 0.12 acres at 374 Boyden Ave in Maplewood Township, the property is near Maplewood Village, NJ Transit, shopping, dining, parks, and major highways. Public water and public sewer serve the site, while the building has two gas services and two electric services. Unit 2 pays its own utilities; the owner currently pays utilities serving Units 1 and 3. The property has an estimated 7.71% cap rate based on approximate owner-provided operating information.
Set on 0.12 acres at 374 Boyden Ave in Maplewood Township, the property is near Maplewood Village, NJ Transit, shopping, dining, parks, and major highways. Public water and public sewer serve the site, while the building has two gas services and two electric services. Unit 2 pays its own utilities; the owner currently pays utilities serving Units 1 and 3. The property has an estimated 7.71% cap rate based on approximate owner-provided operating information.
Key Highlights
- Legal three‑family property with three full‑floor apartments
- 2,854 square feet on a 0.12‑acre lot
- Currently fully occupied
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
$47,765
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
6.08%
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%
$955,300
$955.3K
Cap Rate 7%
$682,357
$682.4K
Cap Rate 9%
$530,722
$530.7K
Market Conditions
NOI Build-Up for 2,854 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
$72.9K $25.56/SF
− Vacancy
−$4.7K −$1.65/SF
EGI
$68.2K $23.91/SF
− OpEx
−$20.5K −$7.17/SF
NOI
$47.8K $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%
$955,300
Cap Rate 7%
$682,357
Cap Rate 9%
$530,722
Alternative Uses
Best Use
Multifamily LT 5
$682.4K
$597.1K – $796.1K
NOI $47,765 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$627.0K
$548.6K – $731.5K
NOI $43,889 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$745.2K
$652.1K – $869.5K
NOI $52,167 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,127
Businesses Nearby
Explore this area
Business Placement
Demographics for 07040, NJ
25,684
Population
8,981
Households
2.9
Avg Household Size
39
Median Age
69%
College-Educated
96%
High-School Grad
3.9 sq mi
ZIP Area
6,586
Density / Sq Mi
$167,428
Median Household Income
$72,475
Median Earnings
$2,184
Median Rent
$684,600
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?
Triplex - Legal three-family property with three full-floor apartments, outdoor areas, public utilities, and current occupancy.
Where is this triplex located?
The property is located at 374 Boyden Ave Maplewood, NJ.
What is the asking price?
The asking price for this property is $785,000.
What are key features of this property?
This property features: Legal three‑family property with three full‑floor apartments; 2,854 square feet on a 0.12‑acre lot; Currently fully occupied
