Spacious Newark Two-Family
For Sale
$825,000
Pending
56 Lentz Ave, Newark, NJ 07105
Income-producing two-family property with over 4,000 sq ft of living space.
Property Size4,000 SF
Days on Market133
Property Features for 56 Lentz Ave
General Information
Standard status
Pending
Size
4,000 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$11,165
Building Details
Year Built
2002
Units
2
Listing Agency:
(973) 232-5187
Listed By:
ROMMEL GONZALEZ
Source:
Elliman
Added: Apr 1
Changed: Aug 8
Last Checked: Jul 16 at 7:54AM
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 ROMMEL GONZALEZ
Investment Insights
Based on property information with market context.
This two-family property in Newark offers over 4,000 sq ft of finished living space. Each unit includes 3 bedrooms, including a primary suite with a private full bath, hardwood flooring, spacious living areas, and eat-in kitchens with ample cabinetry and tiled finishes. The first unit features a bright living room with recessed lighting, crown molding, and French doors leading to a large private deck. The second unit offers a living/dining combination. The ground level includes a full bathroom and two additional rooms suitable for recreation, workspace, or extended living. A laundry area is also located on this level. Additional features include separate utilities, semi-private entrances, a 1-car garage, and a double-wide driveway. The property is located on a corner lot and includes a fenced-in lot. It is conveniently located near public transportation, major highways, parks, shopping, and dining. The property has a bike score of 63, a walk score of 82, and a transit score of 49.
Key Highlights
- Strong income‑producing two‑family property in a desirable location.
- Boasting over 4,000 sq ft of finished living space, each unit features 3 bedrooms and 2 bathrooms.
- First unit boasts a private deck, recessed lighting, crown molding, and French doors.
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
$67,145
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
8.14%
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%
$1,342,900
$1.3M
Cap Rate 7%
$959,214
$959.2K
Cap Rate 9%
$746,056
$746.1K
Market Conditions
NOI Build-Up for 4,000 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
$100.8K $25.20/SF
− Vacancy
−$4.9K −$1.22/SF
EGI
$95.9K $23.98/SF
− OpEx
−$28.8K −$7.19/SF
NOI
$67.1K $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%
$1,342,900
Cap Rate 7%
$959,214
Cap Rate 9%
$746,056
Alternative Uses
Best Use
Multifamily LT 5
$959.2K
$839.3K – $1.12M
NOI $67,145 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$876.9K
$767.3K – $1.02M
NOI $61,381 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,147 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,079
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Income-producing two-family property with over 4,000 sq ft of living space.
Where is this duplex located?
The property is located at 56 Lentz Ave Newark, NJ.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Strong income‑producing two‑family property in a desirable location.; Boasting over 4,000 sq ft of finished living space, each unit features 3 bedrooms and 2 bathrooms.; First unit boasts a private deck, recessed lighting, crown molding, and French doors.
