Triplex with Separate
For Sale
$674,000
41 20Th Ave, Irvington, NJ 07111
Multi-Family, 3-Three Story, Triplex, Irvington Twp., NJ
Property Size2,760 SF
Price / SF$244.20
Days on Market95
Property Features for 41 20Th Ave
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 1, Bathroom 3, Basement, Bathroom 1, Bedroom 4, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6
Parking
2
Directions
Off to Irvington
Standard status
Active
Size
2,760 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13361
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1953
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX SELECT · RE/MAX International
Listed By:
NICHOLAS WALSH
(973) 539-6300
Added: Jun 30
Changed: Sep 12
Last Checked: Oct 2 at 4:06PM
MLS# 4037704
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex provides 2,760 square feet of living space with seven bedrooms and four bathrooms. The basement adds a full kitchen and bathroom, expanding the property's functional layout. Separate utilities serve each unit, and the building dates to 1953.
The property is fully occupied and located in Irvington Twp., Essex County, near schools, shopping, and transportation. Public water and public sewer serve the property, with hot-water baseboard heating and a shingle roof.
The configuration combines three residential units with a seven-bedroom, four-bathroom layout and additional basement amenities. Its existing occupancy and separate utility arrangement provide clear operational details for evaluating the property as a residential income asset.
The property is fully occupied and located in Irvington Twp., Essex County, near schools, shopping, and transportation. Public water and public sewer serve the property, with hot-water baseboard heating and a shingle roof.
The configuration combines three residential units with a seven-bedroom, four-bathroom layout and additional basement amenities. Its existing occupancy and separate utility arrangement provide clear operational details for evaluating the property as a residential income asset.
Key Highlights
- Fully occupied triplex in Irvington Twp., NJ
- 2,760 square feet with 7 bedrooms and 4 bathrooms
- Basement includes a full kitchen and bathroom
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
$46,192
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
6.85%
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%
$923,840
$923.8K
Cap Rate 7%
$659,886
$659.9K
Cap Rate 9%
$513,244
$513.2K
Market Conditions
NOI Build-Up for 2,760 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
$70.5K $25.56/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$66.0K $23.91/SF
− OpEx
−$19.8K −$7.17/SF
NOI
$46.2K $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%
$923,840
Cap Rate 7%
$659,886
Cap Rate 9%
$513,244
Alternative Uses
Best Use
Multifamily LT 5
$659.9K
$577.4K – $769.9K
NOI $46,192 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$606.3K
$530.5K – $707.4K
NOI $42,443 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$720.7K
$630.6K – $840.8K
NOI $50,448 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,696
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 residential income property with a basement kitchen and bathroom and individually metered utilities for each unit.
Where is this triplex located?
The property is located at 41 20Th Ave Irvington, NJ.
What is the asking price?
The asking price for this property is $674,000.
What are key features of this property?
This property features: Fully occupied triplex in Irvington Twp., NJ; 2,760 square feet with 7 bedrooms and 4 bathrooms; Basement includes a full kitchen and bathroom
