Third-Floor
47 Montrose St, Newark, NJ 07106
For Sale
New
Contact for pricing
Updated kitchen appliances and available laundry facilities add practical convenience to this apartment.
Property Size900 SF
Price / SF$1.83
Days on Market2
Property Features for 47 Montrose St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Amenities
laundry facilities
Finished
Laminate,Tile,Wood
Electric
Third
Bath Main,Kitchen,Living Room
Eat-In Kitchen,Pantry,Tub Shower,Walk-In Closet
1
Carbon Monoxide Detector,Fire Extinguisher,Smoke Detector
Public Water
37.6X100
0.09
Listing Agency:
1-888-NJ-REALTY
(551) 239-8040
Listed By:
Andrea Lew
Source:
Skyrealtyintl
Added: Nov 8
Last Checked: Nov 9 at 7:50AM
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 1-888-NJ-REALTY
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Investment Insights
Based on property information with market context.
This 900-square-foot apartment is on the third floor and features hardwood flooring, inset lighting, and closet storage that includes a walk-in closet. The updated kitchen has a stove, microwave, and refrigerator, along with an eat-in area and pantry. Laundry facilities are available; basement use is excluded.
The apartment is at 47 Montrose St in Newark, with public transportation nearby and a commute to New York City described as convenient.
The apartment is at 47 Montrose St in Newark, with public transportation nearby and a commute to New York City described as convenient.
Key Highlights
- 900‑square‑foot apartment on the third floor
- Updated kitchen includes a stove, microwave, refrigerator, eat‑in area, and pantry
- Hardwood floors, inset lighting, and a walk‑in closet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,595
Suggested Prices Based on Cap Rates
Cap Rate 5%
$271,900
$271.9K
Cap Rate 7%
$194,214
$194.2K
Cap Rate 9%
$151,056
$151.1K
Market Conditions
NOI Build-Up for 900 SF
Gross rent
$26.4K $29.28/SF
− Vacancy
−$1.6K −$1.82/SF
EGI
$24.7K $27.46/SF
− OpEx
−$11.1K −$12.36/SF
NOI
$13.6K $15.11/SF
Area
ZIP 07106
Vacancy
6.20%
Lease Rate
$29.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$271,900
Cap Rate 7%
$194,214
Cap Rate 9%
$151,056
Alternative Uses
Best Use
Apartment 5plus
$194.2K
$169.9K – $226.6K
NOI $13,595 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$352.1K
$308.1K – $410.8K
NOI $24,646 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
903
Businesses Nearby
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Business Placement
Demographics for 07106, NJ
34,596
Population
13,633
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
24,711
Density / Sq Mi
$48,105
Median Household Income
$34,820
Median Earnings
$1,221
Median Rent
$321,400
Median Home Value
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Market
Average Price Trend$/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 - Updated kitchen appliances and available laundry facilities add practical convenience to this apartment.
Where is this residential income property located?
The property is located at 47 Montrose St Newark, NJ.
What are key features of this property?
This property features: 900‑square‑foot apartment on the third floor; Updated kitchen includes a stove, microwave, refrigerator, eat‑in area, and pantry; Hardwood floors, inset lighting, and a walk‑in closet
