Three-Story Residential Income
For Sale
$1,995,000
48 Kent Place Blvd, Summit, NJ 07901
The detached property has three stories and residential zoning.
Property Size5,100 SF
Days on Market10
Property Features for 48 Kent Place Blvd
General Information
Standard status
Active
Size
5,100 SF
Property subtype
Residential Income
Zoning
residential
Taxes and HOA fees
Annual Taxes
$15,997
Amenities
Ceiling Fan(s)
Baseboard, Electric, Forced Air, Natural Gas
Unfinished
Detached
3-Three Story
Building Details
Building Size
5,100 SF
Year Built
1870
Stories
3
Listed By:
ZANDER OLDENDORP
(973) 229-6475
Source:
Evrealestate
Added: Oct 14
Changed: Oct 19
Last Checked: Oct 23 at 7:16AM
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 ZANDER OLDENDORP
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Investment Insights
Based on property information with market context.
This detached residential income property in Summit has three stories and was built in 1870. The interior includes ceiling fans and an unfinished area. Listed heating details include baseboard, electric, forced air, and natural gas. The property is zoned residential and is located at 48 Kent Place Blvd.
Key Highlights
- Detached, three‑story property
- Built in 1870
- Residential zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,428
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,568,560
$1.6M
Cap Rate 7%
$1,120,400
$1.1M
Cap Rate 9%
$871,422
$871.4K
Market Conditions
NOI Build-Up for 5,100 SF
Gross rent
$153.0K $30.00/SF
− Vacancy
−$10.4K −$2.04/SF
EGI
$142.6K $27.96/SF
− OpEx
−$64.2K −$12.58/SF
NOI
$78.4K $15.38/SF
Area
Union 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 Rate 5%
$1,568,560
Cap Rate 7%
$1,120,400
Cap Rate 9%
$871,422
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$980.4K – $1.31M
NOI $78,428 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.17M – $1.55M
NOI $93,220 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,981
Businesses Nearby
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Business Placement
Demographics for 07901, NJ
24,199
Population
9,477
Households
2.6
Avg Household Size
40
Median Age
72%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
3,841
Density / Sq Mi
$177,986
Median Household Income
$87,088
Median Earnings
$2,209
Median Rent
$958,700
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The detached property has three stories and residential zoning.
Where is this residential income property located?
The property is located at 48 Kent Place Blvd Summit, NJ.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Detached, three‑story property; Built in 1870; Residential zoning
