Duplex with Detached
New
For Sale
$850,000
53 Garrison St, Newark, NJ 07105
Multi-Family, 3-Three Story, Newark City, NJ
Property Size2,605 SF
Lot Size0.08 Acres
Price / SF$326.30
Days on Market1
Property Features for 53 Garrison St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Basement, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 3
Parking
2
Patio and Porch features
Patio
Interior features
Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Stain Glass Windows, Tile Floors, Vinyl-Linoleum Floors, Wood Floors
Exterior features
Metal Fence, Patio, Sidewalk, Storm Door(s)
Fencing
Fenced
Subdivision
Ironbound
Lot features
Level Lot
Elementary school
ANN ST
Middle school
ANN ST
High school
EAST SIDE
Directions
Wilson Ave to Rome St to Garrison St.
Standard status
Active
Size
2,605 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8665
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
laundry
open front porch
yard
garden area
finished basement
summer kitchen
Building Details
Year built
1928
Floors in Building
3
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX INNOVATION · RE/MAX International
(732) 298-6006
Listed By:
ALZIRA FARINHAS · License #9913826
(732) 259-3522
Added: Sep 19
Last Checked: Sep 19 at 9:06PM
MLS# 4053905
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,605-square-foot duplex, built in 1928 on 0.08 acres, includes two residential units with distinct layouts and separate utility systems. The first unit has an eat-in kitchen, living room, dining room, and two bedrooms. The upper unit adds three bedrooms, a sunroom, and walk-up attic access. Both units include laundry, while the property also offers updated kitchens and bathrooms, hardwood, tile, and linoleum flooring, and separate furnaces with individual gas and electric meters.
A full finished basement provides a summer kitchen, dining area, full bathroom with bidet, two additional rooms, recreation space, and separate entrances. Exterior features include an open front porch, fenced yard with a designated gardening area, long driveway, and detached two-car garage. The property is located in Newark’s Ironbound section near major highways, public transportation, shopping, and dining. It is currently occupied by long-term tenants and can be delivered vacant at closing. The sale is strictly AS IS.
A full finished basement provides a summer kitchen, dining area, full bathroom with bidet, two additional rooms, recreation space, and separate entrances. Exterior features include an open front porch, fenced yard with a designated gardening area, long driveway, and detached two-car garage. The property is located in Newark’s Ironbound section near major highways, public transportation, shopping, and dining. It is currently occupied by long-term tenants and can be delivered vacant at closing. The sale is strictly AS IS.
Key Highlights
- 2,605‑square‑foot duplex on 0.08 acres
- Two units with separate furnaces, gas meters, electric meters, and laundry
- First unit includes two bedrooms; upper unit includes three bedrooms and a sunroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,728
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$874,560
$874.6K
Cap Rate 7%
$624,686
$624.7K
Cap Rate 9%
$485,867
$485.9K
Market Conditions
NOI Build-Up for 2,605 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$65.6K $25.20/SF
− Vacancy
−$3.2K −$1.22/SF
EGI
$62.5K $23.98/SF
− OpEx
−$18.7K −$7.19/SF
NOI
$43.7K $16.79/SF
Area
ZIP 07105
Vacancy
4.84%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$874,560
Cap Rate 7%
$624,686
Cap Rate 9%
$485,867
Alternative Uses
Best Use
Multifamily LT 5
$624.7K
$546.6K – $728.8K
NOI $43,728 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$571.1K
$499.7K – $666.3K
NOI $39,975 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$931.7K
$815.3K – $1.09M
NOI $65,221 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,949
Businesses Nearby
Explore this area
Business Placement
Demographics for 07105, NJ
50,870
Population
20,608
Households
2.5
Avg Household Size
35
Median Age
15%
College-Educated
70%
High-School Grad
4.6 sq mi
ZIP Area
11,059
Density / Sq Mi
$55,752
Median Household Income
$33,175
Median Earnings
$1,600
Median Rent
$445,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature separate utilities, laundry, and updated kitchens and bathrooms.
Where is this duplex located?
The property is located at 53 Garrison St Newark, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 2,605‑square‑foot duplex on 0.08 acres; Two units with separate furnaces, gas meters, electric meters, and laundry; First unit includes two bedrooms; upper unit includes three bedrooms and a sunroom
