New Construction Duplex with
New
For Sale
$875,000
585 S 19th St, Newark, NJ 07103
Two-family residential property with separate living areas, modern finishes, and a five-year tax abatement eligibility.
Property Size3,918 SF
Price / SF$223.33
Days on Market6
Property Features for 585 S 19th St
General Information
Standard status
Active
Size
3,918 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
central air conditioning
forced hot air
oak hardwood flooring
ceramic tile in kitchens and baths
rec room
Building Details
Year Built
2026
Buildings
1
Stories
3
Listing Agency:
ROSA AGENCY
(973) 751-1000
Listed By:
SHAWN ROSA · License #274328
Source:
Luminancerealty
Added: Aug 26
Changed: Aug 29
Last Checked: Aug 30 at 7:47PM
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 ROSA AGENCY
Investment Insights
Based on property information with market context.
This two-family residence is under construction with 3,918 square feet of total living space arranged across three levels. The ground floor includes a built-in two-car garage, recreation room, and half bath. Each upper level provides six rooms, three bedrooms, and two full baths, creating a matching layout for the two residences.
Oak hardwood flooring is planned throughout, with ceramic tile specified for the kitchens and bathrooms. Building systems include two central air-conditioning zones and forced hot-air heating. The property is eligible for a five-year tax abatement and is located at 585 S 19th St in Newark City, New Jersey.
Oak hardwood flooring is planned throughout, with ceramic tile specified for the kitchens and bathrooms. Building systems include two central air-conditioning zones and forced hot-air heating. The property is eligible for a five-year tax abatement and is located at 585 S 19th St in Newark City, New Jersey.
Key Highlights
- Two‑family home under construction with 3,918 square feet of living space
- Built‑in 2‑car garage, recreation room, and half bath on the ground level
- Each upper level includes 6 rooms, 3 bedrooms, and 2 full baths
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
$78,296
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
8.95%
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%
$1,565,920
$1.6M
Cap Rate 7%
$1,118,514
$1.1M
Cap Rate 9%
$869,956
$870.0K
Market Conditions
NOI Build-Up for 3,918 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
$117.5K $30.00/SF
− Vacancy
−$5.7K −$1.45/SF
EGI
$111.9K $28.55/SF
− OpEx
−$33.6K −$8.56/SF
NOI
$78.3K $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 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%
$1,565,920
Cap Rate 7%
$1,118,514
Cap Rate 9%
$869,956
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$978.7K – $1.30M
NOI $78,296 @ 7.0% cap · market cap 8.95%
Second Best
Apartment 5plus
$1.02M
$889.6K – $1.19M
NOI $71,166 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$1.40M
$1.23M – $1.63M
NOI $98,094 @ 7.0% cap · market cap 11.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,405
Businesses Nearby
Explore this area
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
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-family residential property with separate living areas, modern finishes, and a five-year tax abatement eligibility.
Where is this duplex located?
The property is located at 585 S 19th St Newark, NJ.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two‑family home under construction with 3,918 square feet of living space; Built‑in 2‑car garage, recreation room, and half bath on the ground level; Each upper level includes 6 rooms, 3 bedrooms, and 2 full baths
