3-Unit Multifamily
New
For Sale
$549,900
420 21St St, Irvington, NJ 07111
MULTI_FAMILY - Irvington Twp., NJ
Property Size3,252 SF
Price / SF$169.10
Days on Market2
Property Features for 420 21St St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res
Bedrooms
12
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 7, Bathroom 7, Bedroom 5, Bedroom 11, Bedroom 4, Bedroom 8, Bedroom 2, Bedroom 12, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 9, Basement, Bathroom 6, Bathroom 1, Bathroom 5, Bedroom 10, Bathroom 3, Bathroom 4, Bedroom 6
Patio and Porch features
Patio
Interior features
Fire Extinguisher, Smoke Detector
Exterior features
Patio, Privacy Fence
Fencing
Privacy
Directions
google map
Standard status
Active
Size
3,252 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16417
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Hot Water(Heating)
Water source
Public
Building Details
Year built
1914
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
PREMIER HOMES
(908) 245-6767
Listed By:
DIANNE POLO
(800) 245-2272
Added: Aug 13
Last Checked: Aug 14 at 12:06PM
MLS# 4046752
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 3,252-square-foot multifamily property was built in 1914 and contains three units with a total of 12 bedrooms and 7 bathrooms. The residential layout includes basement space, while interior features include fire extinguishers and smoke detectors. Heating is provided by hot water and radiant systems, and the roof is shingle.
The property is served by public water and public sewer and carries Res zoning. Exterior features include a patio and privacy fencing, providing defined outdoor space. The three-unit configuration supports an owner-occupant arrangement with additional rental units or use as a multifamily income property, as described in the property information.
The property is served by public water and public sewer and carries Res zoning. Exterior features include a patio and privacy fencing, providing defined outdoor space. The three-unit configuration supports an owner-occupant arrangement with additional rental units or use as a multifamily income property, as described in the property information.
Key Highlights
- Three‑unit multifamily configuration
- 3,252 square feet with 12 bedrooms and 7 bathrooms
- Built in 1914
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
$50,009
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
9.09%
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%
$1,000,180
$1.0M
Cap Rate 7%
$714,414
$714.4K
Cap Rate 9%
$555,656
$555.7K
Market Conditions
NOI Build-Up for 3,252 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
$97.6K $30.00/SF
− Vacancy
−$6.6K −$2.04/SF
EGI
$90.9K $27.96/SF
− OpEx
−$40.9K −$12.58/SF
NOI
$50.0K $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%
$1,000,180
Cap Rate 7%
$714,414
Cap Rate 9%
$555,656
Alternative Uses
Best Use
Multifamily LT 5
$777.5K
$680.3K – $907.1K
NOI $54,426 @ 7.0% cap · market cap 9.90%
Second Best
Apartment 5plus
$714.4K
$625.1K – $833.5K
NOI $50,009 @ 7.0% cap · market cap 9.09%
Theoretical Best
Office A
$849.2K
$743.0K – $990.7K
NOI $59,441 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,947
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - 1914-built residential income property with public water, public sewer, and multiple interior safety features.
Where is this triplex located?
The property is located at 420 21St St Irvington, NJ.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Three‑unit multifamily configuration; 3,252 square feet with 12 bedrooms and 7 bathrooms; Built in 1914
