Three-Level Duplex with Finished Lower
56 Oak Ave, Irvington, NJ 07111
For Sale
New
$747,000
Multi-Family, 3-Three Story, Irvington Twp., NJ
Property Size4,060 SF
Lot Size0.06 Acres
Price / SF$183.99
Days on Market3
Property Features for 56 Oak Ave
General Information
Property type
Property subtype
Property condition
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Directions
Standard status
Lot size
Taxes and HOA fees
Tax Year
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Floors in Building
Number of units
Roof type
Architectural style
Listing Agency:
REALMART REALTY
(888) 362-6543
Listed By:
Jack Yao · License NJ #10491203908
(732) 727-2285
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 13 at 11:06PM
MLS# 4064095
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.
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Investment Insights
Based on property information with market context.
This under-construction duplex is planned with more than 4,000 square feet across three finished levels. The main and second floors together include six bedrooms and four full bathrooms. A finished walkout lower level adds a recreation area and half bath, with its own mini-split HVAC system. The home is also specified with forced-air heating, central air, and public water and sewer.
Interior details include wide-plank hardwood flooring, 9-foot ceilings, quartz counters with a full-height backsplash, and premium cabinetry. The primary suite bathroom is planned with a dual-sink vanity, smart toilet, and heated towel warmer. Additional features include 8-foot interior doors, a metal-and-glass entry door, and a Wi-Fi-enabled garage door.
Interior details include wide-plank hardwood flooring, 9-foot ceilings, quartz counters with a full-height backsplash, and premium cabinetry. The primary suite bathroom is planned with a dual-sink vanity, smart toilet, and heated towel warmer. Additional features include 8-foot interior doors, a metal-and-glass entry door, and a Wi-Fi-enabled garage door.
Key Highlights
- More than 4,000 square feet across three finished levels
- Six bedrooms and four full bathrooms on the main and second floors
- Finished walkout lower level with recreation area, half bath, and dedicated mini‑split HVAC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,949
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
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
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 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 9.10%
Second Best
Apartment 5plus
$891.9K
$780.4K – $1.04M
NOI $62,435 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$1.06M
$927.6K – $1.24M
NOI $74,210 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
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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
$291,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Irvington, NJ
Properties on Market for Duplexes in Irvington
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The walkout lower level adds recreation space and a separate mini-split HVAC system.
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 $747,000.
What are key features of this property?
This property features: More than 4,000 square feet across three finished levels; Six bedrooms and four full bathrooms on the main and second floors; Finished walkout lower level with recreation area, half bath, and dedicated mini‑split HVAC
