First-Floor
45 Highland Ave # 1, Newark, NJ 07104
For Sale
New
Contact for pricing
Two bedrooms are complemented by separate dining and living areas and a kitchen with stainless steel appliances.
Property Size1,000 SF
Price / SF$1.90
Days on Market2
Property Features for 45 Highland Ave # 1
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Amenities
Gas-Natural
2 Bedrooms,Bath Main,Dining Room,Kitchen,Living Room
2
Public Water
25X100
0.06
Building Details
Year Built
Listing Agency:
KELLER WILLIAMS PARK VIEWS
(551) 239-8040
Listed By:
Justin Robinson
Source:
Skyrealtyintl
Added: Nov 8
Last Checked: Nov 9 at 8:04AM
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 KELLER WILLIAMS PARK VIEWS
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Investment Insights
Based on property information with market context.
This first-floor apartment offers 1,000 square feet with two bedrooms, a dining room, living room, and kitchen. The kitchen is fitted with stainless steel appliances and a granite countertop. The building dates to 1932, and the unit has natural gas service and public water.
The apartment is near Branch Brook Park and within walking distance of local businesses, parks, shopping, dining, and transportation to New York City.
The apartment is near Branch Brook Park and within walking distance of local businesses, parks, shopping, dining, and transportation to New York City.
Key Highlights
- 1,000‑square‑foot, first‑floor apartment
- Two bedrooms with separate dining and living rooms
- Kitchen features stainless steel appliances and a granite countertop
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,659
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,180
$313.2K
Cap Rate 7%
$223,700
$223.7K
Cap Rate 9%
$173,989
$174.0K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$30.0K $30.00/SF
− Vacancy
−$1.5K −$1.53/SF
EGI
$28.5K $28.47/SF
− OpEx
−$12.8K −$12.81/SF
NOI
$15.7K $15.66/SF
Area
ZIP 07104
Vacancy
5.10%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$313,180
Cap Rate 7%
$223,700
Cap Rate 9%
$173,989
Alternative Uses
Best Use
Apartment 5plus
$223.7K
$195.7K – $261.0K
NOI $15,659 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$316.3K
$276.8K – $369.0K
NOI $22,142 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,747
Businesses Nearby
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Business Placement
Demographics for 07104, NJ
54,051
Population
21,762
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
2.5 sq mi
ZIP Area
21,620
Density / Sq Mi
$51,199
Median Household Income
$36,139
Median Earnings
$1,343
Median Rent
$337,400
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Newark, NJ
Properties on Market for Residential income properties in Newark
Frequently Asked Questions
What type of property is this?
Residential income property - Two bedrooms are complemented by separate dining and living areas and a kitchen with stainless steel appliances.
Where is this residential income property located?
The property is located at 45 Highland Ave # 1 Newark, NJ.
What are key features of this property?
This property features: 1,000‑square‑foot, first‑floor apartment; Two bedrooms with separate dining and living rooms; Kitchen features stainless steel appliances and a granite countertop
