Two-Unit
For Sale
$720,000
389 21st St, Irvington, NJ 07111
Both residences offer three bedrooms and two full bathrooms, supporting separate household use within one property.
Property Size2,208 SF
Price / SF$326.09
Days on Market16
Property Features for 389 21st St
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2007
Listing Agency:
KELLER WILLIAMS ELITE REALTORS
Listed By:
AMANI PULLUM
(908) 307-7635
Source:
Luminancerealty
Added: Oct 20
Changed: Oct 25
Last Checked: Sep 16 at 7:15PM
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 ELITE REALTORS
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Investment Insights
Based on property information with market context.
Built in 2007, this duplex contains two residences, each configured with three bedrooms and two full bathrooms. The two-unit layout provides separate living spaces within a single property in Irvington, New Jersey.
The property has access to major roadways and public transportation, with shopping, dining, schools, and parks in the surrounding area.
The property has access to major roadways and public transportation, with shopping, dining, schools, and parks in the surrounding area.
Key Highlights
- Two residential units in one duplex
- Each unit has 3 bedrooms and 2 full bathrooms
- Built in 2007
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,953
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$739,060
$739.1K
Cap Rate 7%
$527,900
$527.9K
Cap Rate 9%
$410,589
$410.6K
Market Conditions
NOI Build-Up for 2,208 SF
Gross rent
$56.4K $25.56/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$52.8K $23.91/SF
− OpEx
−$15.8K −$7.17/SF
NOI
$37.0K $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%
$739,060
Cap Rate 7%
$527,900
Cap Rate 9%
$410,589
Alternative Uses
Best Use
Multifamily LT 5
$527.9K
$461.9K – $615.9K
NOI $36,953 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$485.1K
$424.4K – $565.9K
NOI $33,955 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$576.6K
$504.5K – $672.7K
NOI $40,359 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,696
Businesses Nearby
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Business Placement
Demographics for 07111, NJ
61,176
Population
24,176
Households
2.5
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
21,095
Density / Sq Mi
$59,232
Median Household Income
$37,640
Median Earnings
$1,324
Median Rent
$291,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer three bedrooms and two full bathrooms, supporting separate household use within one property.
Where is this duplex located?
The property is located at 389 21st St Irvington, NJ.
What is the asking price?
The asking price for this property is $720,000.
What are key features of this property?
This property features: Two residential units in one duplex; Each unit has 3 bedrooms and 2 full bathrooms; Built in 2007
