Three-Story Duplex with Central
New
For Sale
$847,000
56 Oak Ave, Irvington, NJ 07111
Duplex offering central air, natural-gas heating, and walk-out access.
Property Size4,060 SF
Price / SF$208.62
Days on Market7
Property Features for 56 Oak Ave
General Information
Standard status
Active
Size
4,060 SF
Property subtype
Residential Income
Zoning
Multi
Amenities
Central Air
Forced Air, Natural Gas
Walk-Out Access
Gas Water Heater
Concrete, Attached
3-Three Story
Building Details
Year Built
2026
Stories
3
Listing Agency:
REALMART REALTY
(732) 727-2285
Listed By:
QIZHAN YAO · License #0902217
Source:
Evrealestate
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 6:48AM
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 REALMART REALTY
Investment Insights
Based on property information with market context.
This three-story duplex at 56 Oak Ave features central air, forced-air heating, natural gas, a gas water heater, and walk-out access. The property was built in 2026 and is identified with Multi zoning. Concrete and attached exterior features are included in the property information.
Located in Irvington Twp., NJ 07111, the property is associated with Essex County. Directions reference Rodwell Ave and 15th Ave. The configuration and mechanical systems provide a defined residential income property profile within a multifamily classification.
Located in Irvington Twp., NJ 07111, the property is associated with Essex County. Directions reference Rodwell Ave and 15th Ave. The configuration and mechanical systems provide a defined residential income property profile within a multifamily classification.
Key Highlights
- Duplex property with three‑story construction
- Built in 2026
- Central air conditioning
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
$67,949
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
8.02%
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%
$1,358,980
$1.4M
Cap Rate 7%
$970,700
$970.7K
Cap Rate 9%
$754,989
$755.0K
Market Conditions
NOI Build-Up for 4,060 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
$103.8K $25.56/SF
− Vacancy
−$6.7K −$1.65/SF
EGI
$97.1K $23.91/SF
− OpEx
−$29.1K −$7.17/SF
NOI
$67.9K $16.74/SF
Area
Essex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$1,358,980
Cap Rate 7%
$970,700
Cap Rate 9%
$754,989
Alternative Uses
Best Use
Multifamily LT 5
$970.7K
$849.4K – $1.13M
NOI $67,949 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$891.9K
$780.4K – $1.04M
NOI $62,435 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$1.06M
$927.6K – $1.24M
NOI $74,210 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
Explore this area
Business Placement
Demographics for 07111, NJ
61,176
Population
24,176
Households
2.5
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
21,095
Density / Sq Mi
$59,232
Median Household Income
$37,640
Median Earnings
$1,324
Median Rent
$291,500
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 - Duplex offering central air, natural-gas heating, and walk-out access.
Where is this duplex located?
The property is located at 56 Oak Ave Irvington, NJ.
What is the asking price?
The asking price for this property is $847,000.
What are key features of this property?
This property features: Duplex property with three‑story construction; Built in 2026; Central air conditioning
