Renovated Duplex with Granite
For Sale
$499,000
491 S 17th Street, Newark, NJ 07103
Hardwood flooring and stainless steel appliances are among the interior finishes.
Property Size1,726 SF
Price / SF$289.11
Days on Market20
Property Features for 491 S 17th Street
General Information
Standard status
Active
Size
1,726 SF
Property subtype
Multi-family
Site & Location
Neighborhood
West Side
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$550,000
Amenities
hardwood floors
granite counters
stainless steel appliances
Building Details
Year Built
1900
Buildings
1
Listing Agency:
C21 Thomson & Co.
Listed By:
Kyle Golden · License #1646836
(732) 945-7035
Source:
Actionplusrealty
Added: Oct 14
Changed: Nov 1
Last Checked: Nov 1 at 6:24AM
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 C21 Thomson & Co.
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Investment Insights
Based on property information with market context.
This 1,726-square-foot duplex, built in 1900, has hardwood floors, granite countertops, and stainless steel appliances. The property is described as renovated and includes separate residential units; the provided unit-count details conflict, so no total is specified.
Key Highlights
- 1,726 square feet
- Built in 1900
- Hardwood flooring, granite countertops, and stainless steel appliances
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.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,389
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Hardwood flooring and stainless steel appliances are among the interior finishes.
Where is this duplex located?
The property is located at 491 S 17th Street 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: 1,726 square feet; Built in 1900; Hardwood flooring, granite countertops, and stainless steel appliances
