New Construction Multifamily
For Sale
$925,000
403 South 10th Street, Newark, NJ 07103
Two-story residence with a finished lower level, private garage, central air conditioning, and forced hot air heating.
Property Size1,446 SF
Price / SF$639.70
Days on Market181
Property Features for 403 South 10th Street
General Information
Standard status
Active
Size
1,446 SF
Property subtype
Multi Family / 2-Two Story
Net Operating Income
$99,999
Taxes and HOA fees
Annual Taxes
$1,163
Amenities
Yes
Asphalt Shingle, See Remarks
Carbon Monoxide Detector, Fire Extinguisher, Intercom, Smoke Detector
Finished
Aluminum Siding
Building Details
Year Built
2026
Listing Agency:
MYD REALTY LLC
(201) 884-0077
Listed By:
MORAYMA YENG-DUARTE · License #302877
(201) 884-0077
Source:
Compass
Added: Mar 4
Changed: Aug 31
Last Checked: Aug 30 at 5:31AM
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 MYD REALTY LLC
Investment Insights
Based on property information with market context.
Anticipated for completion in Summer 2026, this two-story multifamily residence includes 6 bedrooms, 4 full baths, and 1 half bath. The finished ground level expands the usable layout and connects to a private garage, while central air conditioning and forced hot air heating provide year-round mechanical systems. Aluminum siding and modern construction are also included.
The property is located at 403 South 10th Street in Newark, New Jersey, near 14th Avenue. Public transportation is accessible, with major highways available for regional travel. Restaurants, shopping, hospitals, medical facilities, schools, and educational institutions are located nearby. The offering includes a 5-Year Tax Abatement and a 10-Year Builder's Warranty.
The property is located at 403 South 10th Street in Newark, New Jersey, near 14th Avenue. Public transportation is accessible, with major highways available for regional travel. Restaurants, shopping, hospitals, medical facilities, schools, and educational institutions are located nearby. The offering includes a 5-Year Tax Abatement and a 10-Year Builder's Warranty.
Key Highlights
- 6 bedrooms, 4 full baths, and 1 half bath
- Two‑story new construction with completion anticipated Summer 2026
- Finished ground level with private garage
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
$26,265
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
2.84%
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%
$525,300
$525.3K
Cap Rate 7%
$375,214
$375.2K
Cap Rate 9%
$291,833
$291.8K
Market Conditions
NOI Build-Up for 1,446 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
$50.3K $34.80/SF
− Vacancy
−$2.6K −$1.77/SF
EGI
$47.8K $33.03/SF
− OpEx
−$21.5K −$14.86/SF
NOI
$26.3K $18.16/SF
Area
ZIP 07103
Vacancy
5.10%
Lease Rate
$34.80 /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%
$525,300
Cap Rate 7%
$375,214
Cap Rate 9%
$291,833
Alternative Uses
Best Use
Apartment 5plus
$375.2K
$328.3K – $437.8K
NOI $26,265 @ 7.0% cap · market cap 2.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$517.2K
$452.5K – $603.4K
NOI $36,203 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,548
Businesses Nearby
Explore this area
Business Placement
Demographics for 07103, NJ
39,439
Population
13,832
Households
2.9
Avg Household Size
30
Median Age
21%
College-Educated
81%
High-School Grad
2.2 sq mi
ZIP Area
17,927
Density / Sq Mi
$42,397
Median Household Income
$34,278
Median Earnings
$1,289
Median Rent
$259,300
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?
Multifamily property - Two-story residence with a finished lower level, private garage, central air conditioning, and forced hot air heating.
Where is this multifamily property located?
The property is located at 403 South 10th Street Newark, NJ.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 6 bedrooms, 4 full baths, and 1 half bath; Two‑story new construction with completion anticipated Summer 2026; Finished ground level with private garage
