Two-Unit Duplex with
New
For Sale
$570,000
422 Jelliff Ave, Newark, NJ 07112
Multi-Family, 2-Two Story, Under/Over, Newark City, NJ
Property Size2,500 SF
Lot Size0.06 Acres
Price / SF$228
Days on Market2
Property Features for 422 Jelliff Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 1, Bedroom 4
Patio and Porch features
Porch
Exterior features
Open Porch(es)
Lot features
Level Lot
Directions
right on jeliff ave
Standard status
Active
Size
2,500 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7771
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
REAL
(855) 450-0442
Listed By:
JAVAN DISLA
Added: Sep 11
Last Checked: Sep 12 at 1:06PM
MLS# 4052181
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 two-family duplex contains 2,500 square feet and was built in 1920. The first-floor residence includes three bedrooms, one full bathroom, a primary bedroom, kitchen, and living room. The second-floor unit provides three bedrooms and two full bathrooms, including a primary suite with a private bath and an adjacent balcony. Both residences are arranged within a two-story configuration.
The property sits on a 0.06-acre lot at 422 Jelliff Ave in Newark City, NJ. Public water and public sewer serve the property, while baseboard and hot water systems provide heating. Exterior features include an open porch, porch space, and a shingle roof. Major highways and public transportation provide access to New York City and Newark Liberty International Airport.
The property sits on a 0.06-acre lot at 422 Jelliff Ave in Newark City, NJ. Public water and public sewer serve the property, while baseboard and hot water systems provide heating. Exterior features include an open porch, porch space, and a shingle roof. Major highways and public transportation provide access to New York City and Newark Liberty International Airport.
Key Highlights
- Two residential units in a two‑story under/over configuration
- 2,500 square feet on a 0.06‑acre lot
- First‑floor unit with 3 bedrooms and 1 full 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
$42,365
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
7.43%
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%
$847,300
$847.3K
Cap Rate 7%
$605,214
$605.2K
Cap Rate 9%
$470,722
$470.7K
Market Conditions
NOI Build-Up for 2,500 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
$63.6K $25.44/SF
− Vacancy
−$3.1K −$1.23/SF
EGI
$60.5K $24.21/SF
− OpEx
−$18.2K −$7.26/SF
NOI
$42.4K $16.95/SF
Area
Newark, NJ
Vacancy
4.84%
Lease Rate
$25.44 /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%
$847,300
Cap Rate 7%
$605,214
Cap Rate 9%
$470,722
Alternative Uses
Best Use
Multifamily LT 5
$605.2K
$529.6K – $706.1K
NOI $42,365 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$552.5K
$483.5K – $644.6K
NOI $38,676 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$885.8K
$775.1K – $1.03M
NOI $62,005 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,212
Businesses Nearby
Explore this area
Business Placement
Demographics for 07112, NJ
29,773
Population
11,779
Households
2.5
Avg Household Size
34
Median Age
18%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
21,266
Density / Sq Mi
$55,171
Median Household Income
$35,709
Median Earnings
$1,334
Median Rent
$306,100
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?
Duplex - Two residential units offer separate layouts, covered porch space, and public water and sewer service.
Where is this duplex located?
The property is located at 422 Jelliff Ave Newark, NJ.
What is the asking price?
The asking price for this property is $570,000.
What are key features of this property?
This property features: Two residential units in a two‑story under/over configuration; 2,500 square feet on a 0.06‑acre lot; First‑floor unit with 3 bedrooms and 1 full bath
