Two-Family Residential Income
For Sale
$540,000
391 High Street, Orange, NJ 07050
Vacant two-family home with 8 bedrooms and 3 baths plus finished attic bonus space.
Property Size3,011 SF
Price / SF$179.34
Days on Market111
Property Features for 391 High Street
General Information
Standard status
Active
Size
3,011 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$15,729
Amenities
Yes
Asphalt Shingle
Unfinished
Vinyl Siding
Building Details
Year Built
1914
Listing Agency:
ALEXANDER ANDERSON REAL ESTATE
Listed By:
DARLING QUEEN EALY · License #397429
(201) 343-6640
Source:
Compass
Added: May 18
Changed: Aug 8
Last Checked: Jul 21 at 3:23AM
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 ALEXANDER ANDERSON REAL ESTATE
Investment Insights
Based on property information with market context.
This vacant two-family residential income home offers a total of 8 bedrooms and 3 bathrooms, with additional finished attic bonus space. Unit 1 is configured with 3 bedrooms and 1 bathroom, while Unit 2 provides 4 bedrooms and 1 bathroom. The property requires TLC, creating an opportunity for buyers seeking to customize and improve the home.
The home is located in Orange, NJ, and is described as being convenient to major highways, shopping, public transportation, and NYC commuter routes.
The overall layout supports separate unit living within a single structure, with the attic bonus space adding further bedroom and bathroom capacity. Photos are noted as virtually staged.
The home is located in Orange, NJ, and is described as being convenient to major highways, shopping, public transportation, and NYC commuter routes.
The overall layout supports separate unit living within a single structure, with the attic bonus space adding further bedroom and bathroom capacity. Photos are noted as virtually staged.
Key Highlights
- Vacant two‑family home with 8 bedrooms and 3 baths
- Unit 1: 3 bedrooms and 1 bath
- Unit 2: 4 bedrooms and 1 bath
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
$46,303
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
8.57%
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%
$926,060
$926.1K
Cap Rate 7%
$661,471
$661.5K
Cap Rate 9%
$514,478
$514.5K
Market Conditions
NOI Build-Up for 3,011 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
$90.3K $30.00/SF
− Vacancy
−$6.1K −$2.04/SF
EGI
$84.2K $27.96/SF
− OpEx
−$37.9K −$12.58/SF
NOI
$46.3K $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 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%
$926,060
Cap Rate 7%
$661,471
Cap Rate 9%
$514,478
Alternative Uses
Best Use
Multifamily LT 5
$719.9K
$629.9K – $839.9K
NOI $50,393 @ 7.0% cap · market cap 9.33%
Second Best
Apartment 5plus
$661.5K
$578.8K – $771.7K
NOI $46,303 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$786.2K
$688.0K – $917.3K
NOI $55,036 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,230
Businesses Nearby
Explore this area
Business Placement
Demographics for 07050, NJ
34,315
Population
13,412
Households
2.6
Avg Household Size
36
Median Age
21%
College-Educated
80%
High-School Grad
2.2 sq mi
ZIP Area
15,598
Density / Sq Mi
$53,109
Median Household Income
$38,587
Median Earnings
$1,427
Median Rent
$336,200
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?
Duplex - Vacant two-family home with 8 bedrooms and 3 baths plus finished attic bonus space.
Where is this duplex located?
The property is located at 391 High Street Orange, NJ.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Vacant two‑family home with 8 bedrooms and 3 baths; Unit 1: 3 bedrooms and 1 bath; Unit 2: 4 bedrooms and 1 bath
