Residential Income
374 Park St # 2, Montclair, NJ 07043
For Sale
New
Contact for pricing
A second-floor apartment combines flexible bedroom space with updated kitchen and bath finishes.
Property Size1,400 SF
Price / SF$2.79
Days on Market2
Property Features for 374 Park St # 2
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Public Transit
Multifamily Units
Amenities
decorative fireplace
washer and dryer
private storage area
Full,Unfinished
Tile,Wood
Gas-Natural
1
Second
2 Bedrooms,Bath Main,Den,Dining Room,Kitchen,Living Room,Pantry,Powder Room
Country Kitchen,Tub Shower
3
In Building
Living Room,Non-Functional,See Remarks
Carbon Monoxide Detector,Smoke Detector
Pantry
Leisure Room
Public Water
98X175
0.39
Building Details
Year Built
Listing Agency:
(551) 239-8040
Listed By:
Justin Robinson
Source:
Skyrealtyintl
Added: Nov 8
Last Checked: Nov 8 at 4:46PM
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 Justin Robinson
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2nd-floor apartment offers approximately 1,400 square feet with a 2-3 bedroom layout, high ceilings, generous room proportions, and wood and tile flooring. The renovated kitchen includes quartz counters, fitted cabinetry, a stainless-steel range and dishwasher, and a pantry. The bathroom has updated fixtures and finishes, while the primary suite includes a private powder room. A decorative fireplace and numerous windows add character to the living space. The property dates to 1890.
One parking space is included. Residents may use the basement’s front-loading washer and dryer, and the apartment has a private storage area measuring approximately 6' x 10'. Upper Montclair Village, Watchung Plaza, shops, cafes, restaurants, and direct NYC train and bus service are within walking distance.
One parking space is included. Residents may use the basement’s front-loading washer and dryer, and the apartment has a private storage area measuring approximately 6' x 10'. Upper Montclair Village, Watchung Plaza, shops, cafes, restaurants, and direct NYC train and bus service are within walking distance.
Key Highlights
- Approximately 1,400 square feet with a flexible 2‑3 bedroom layout
- Second‑floor apartment in a building constructed in 1890
- Updated kitchen with quartz counters, pantry, and stainless‑steel range and dishwasher
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,529
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,580
$430.6K
Cap Rate 7%
$307,557
$307.6K
Cap Rate 9%
$239,211
$239.2K
Market Conditions
NOI Build-Up for 1,400 SF
Gross rent
$42.0K $30.00/SF
− Vacancy
−$2.9K −$2.04/SF
EGI
$39.1K $27.96/SF
− OpEx
−$17.6K −$12.58/SF
NOI
$21.5K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$430,580
Cap Rate 7%
$307,557
Cap Rate 9%
$239,211
Alternative Uses
Best Use
Apartment 5plus
$307.6K
$269.1K – $358.8K
NOI $21,529 @ 7.0% cap · market cap 552.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$365.6K
$319.9K – $426.5K
NOI $25,590 @ 7.0% cap · market cap 656.15%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,177
Businesses Nearby
Explore this area
Business Placement
Demographics for 07043, NJ
14,219
Population
4,499
Households
3.2
Avg Household Size
36
Median Age
84%
College-Educated
99%
High-School Grad
2.5 sq mi
ZIP Area
5,688
Density / Sq Mi
$250,001
Median Household Income
$102,273
Median Earnings
$2,287
Median Rent
$948,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Residential income properties in Montclair, NJ
Properties on Market for Residential income properties in Montclair
Frequently Asked Questions
What type of property is this?
Residential income property - A second-floor apartment combines flexible bedroom space with updated kitchen and bath finishes.
Where is this residential income property located?
The property is located at 374 Park St # 2 Montclair, NJ.
What are key features of this property?
This property features: Approximately 1,400 square feet with a flexible 2‑3 bedroom layout; Second‑floor apartment in a building constructed in 1890; Updated kitchen with quartz counters, pantry, and stainless‑steel range and dishwasher
