Three-Unit Property with
For Sale
$899,000
6206 Monroe Pl, West New York, NJ 07093
Three self-contained residences with individual kitchens, laundry equipment, a garage, and private driveway.
Property Size2,460 SF
Lot Size0.05 Acres
Price / SF$365.45
Days on Market55
Property Features for 6206 Monroe Pl
General Information
Standard status
Active
Size
2,460 SF
Total Parking Spaces
1
Lot size
0.05 Acres
Property subtype
Multi Family Home
Additional Details
Multifamily Units
3
Building Details
Year Built
1972
Units
3
Listing Agency:
The Real Estate Company
(908) 686-7800
Listed By:
Neville Parmar · License #398060
Source:
Betterhomerealestate
Added: Jul 7
Changed: Aug 29
Last Checked: Aug 29 at 1:06PM
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 The Real Estate Company
Investment Insights
Based on property information with market context.
This three-unit residential property contains 7 bedrooms and 3 bathrooms within 2,460 square feet of living space. Each self-contained residence includes a kitchen equipped with a range, refrigerator, and microwave, along with its own washer/dryer. The property also includes a two-car garage and private driveway.
Built in 1972, the building sits on a 25x95 lot at 6206 Monroe Pl in West New York Town, New Jersey. A neighborhood playground and school are located steps from the property, adding nearby daily-use amenities to the surrounding residential setting.
Built in 1972, the building sits on a 25x95 lot at 6206 Monroe Pl in West New York Town, New Jersey. A neighborhood playground and school are located steps from the property, adding nearby daily-use amenities to the surrounding residential setting.
Key Highlights
- Three self‑contained units with 7 bedrooms and 3 bathrooms
- 2,460 sq ft of living space on a 25x95 lot
- Each unit includes a range, refrigerator, microwave, and washer/dryer
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
$41,171
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
4.58%
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%
$823,420
$823.4K
Cap Rate 7%
$588,157
$588.2K
Cap Rate 9%
$457,456
$457.5K
Market Conditions
NOI Build-Up for 2,460 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
$62.9K $25.56/SF
− Vacancy
−$4.1K −$1.65/SF
EGI
$58.8K $23.91/SF
− OpEx
−$17.6K −$7.17/SF
NOI
$41.2K $16.74/SF
Area
Hudson 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%
$823,420
Cap Rate 7%
$588,157
Cap Rate 9%
$457,456
Alternative Uses
Best Use
Multifamily LT 5
$588.2K
$514.6K – $686.2K
NOI $41,171 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$540.4K
$472.9K – $630.5K
NOI $37,830 @ 7.0% cap · market cap 4.21%
Theoretical Best
Warehouse
$890.8K
$779.4K – $1.04M
NOI $62,355 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,715
Businesses Nearby
Explore this area
Business Placement
Demographics for 07093, NJ
64,929
Population
27,451
Households
2.4
Avg Household Size
37
Median Age
35%
College-Educated
78%
High-School Grad
1.2 sq mi
ZIP Area
54,108
Density / Sq Mi
$70,389
Median Household Income
$37,229
Median Earnings
$1,619
Median Rent
$390,300
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?
Triplex - Three self-contained residences with individual kitchens, laundry equipment, a garage, and private driveway.
Where is this triplex located?
The property is located at 6206 Monroe Pl West New York, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three self‑contained units with 7 bedrooms and 3 bathrooms; 2,460 sq ft of living space on a 25x95 lot; Each unit includes a range, refrigerator, microwave, and washer/dryer
