Gut-Renovated
For Sale
$499,000
491 S 17th St, Newark, NJ 07103
Updated two-family property with finished hardwood floors, granite countertops, and stainless steel appliances.
Property Size1,726 SF
Price / SF$289.11
Days on Market16
Property Features for 491 S 17th St
General Information
Standard status
Active
Size
1,726 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Buildings
1
Listing Agency:
RE/MAX Revolution
Listed By:
Curran Group
(732) 359-3203
Source:
Currangrp
Added: Sep 21
Changed: Oct 4
Last Checked: Oct 5 at 7:07PM
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 RE/MAX Revolution
Investment Insights
Based on property information with market context.
This duplex at 491 S 17th St offers 1,726 square feet of residential space in a two-family configuration. The property underwent a complete gut renovation, with hardwood flooring throughout, granite countertops, and stainless steel appliances included in the updated interiors.
Built in 1900, the property combines the character of an older residential structure with extensively renovated finishes. Its two-family layout supports rental use or an owner-occupant arrangement with additional residential income potential, as described in the property information.
Built in 1900, the property combines the character of an older residential structure with extensively renovated finishes. Its two-family layout supports rental use or an owner-occupant arrangement with additional residential income potential, as described in the property information.
Key Highlights
- Complete gut renovation with updated interiors
- Two‑family duplex configuration
- 1,726 square feet of residential space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,492
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,840
$689.8K
Cap Rate 7%
$492,743
$492.7K
Cap Rate 9%
$383,244
$383.2K
Market Conditions
NOI Build-Up for 1,726 SF
Gross rent
$51.8K $30.00/SF
− Vacancy
−$2.5K −$1.45/SF
EGI
$49.3K $28.55/SF
− OpEx
−$14.8K −$8.56/SF
NOI
$34.5K $19.98/SF
Area
ZIP 07103
Vacancy
4.84%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$689,840
Cap Rate 7%
$492,743
Cap Rate 9%
$383,244
Alternative Uses
Best Use
Multifamily LT 5
$492.7K
$431.2K – $574.9K
NOI $34,492 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$447.9K
$391.9K – $522.5K
NOI $31,351 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$617.3K
$540.2K – $720.2K
NOI $43,214 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,389
Businesses Nearby
Explore this area
Business Placement
Demographics for 07103, NJ
39,439
Population
13,832
Households
2.9
Avg Household Size
30
Median Age
21%
College-Educated
81%
High-School Grad
2.2 sq mi
ZIP Area
17,927
Density / Sq Mi
$42,397
Median Household Income
$34,278
Median Earnings
$1,289
Median Rent
$259,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-family property with finished hardwood floors, granite countertops, and stainless steel appliances.
Where is this duplex located?
The property is located at 491 S 17th St Newark, NJ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Complete gut renovation with updated interiors; Two‑family duplex configuration; 1,726 square feet of residential space
