Three-Unit Multifamily
New
For Sale
$785,000
374 BOYDEN AVENUE, Maplewood, NJ 07040
Fully occupied three-apartment property with a driveway, detached garage, and full basement.
Property Size2,854 SF
Price / SF$275.05
Days on Market7
Property Features for 374 BOYDEN AVENUE
General Information
Standard status
Active
Size
2,854 SF
Property subtype
Triplex
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Gross Income
$85,800
Multifamily Units
3
Amenities
private driveway
detached garage
full basement
Building Details
Year Built
1927
Listing Agency:
Keller Williams Village Square Realty
(201) 245-8512
Listed By:
Javier Rivera · License #2298375
(201) 245-8512
Source:
Cummingsrealtors
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 6:29AM
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 Keller Williams Village Square Realty
Investment Insights
Based on property information with market context.
This legal three-family property contains three apartments within 2,854 SF of residential space. Built in 1927, the property includes a private driveway, detached garage, and full basement. It is being offered in its existing AS-IS condition.
The property is located in Maplewood, one block from Artie’s and near downtown Maplewood, NJ Transit, shopping, dining, parks, and major highways. The three-unit configuration supports multifamily ownership, with the apartments currently fully occupied. Showings begin Friday, August 8, 2026, by appointment only.
The property is located in Maplewood, one block from Artie’s and near downtown Maplewood, NJ Transit, shopping, dining, parks, and major highways. The three-unit configuration supports multifamily ownership, with the apartments currently fully occupied. Showings begin Friday, August 8, 2026, by appointment only.
Key Highlights
- Legal three‑family property with three apartments
- 2,854 SF residential property built in 1927
- Fully occupied three‑unit configuration
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
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
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 - Fully occupied three-apartment property with a driveway, detached garage, and full basement.
Where is this triplex located?
The property is located at 374 BOYDEN AVENUE 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 apartments; 2,854 SF residential property built in 1927; Fully occupied three‑unit configuration
