Two-Story Residential Income
For Sale
$737,000
629 S 18Th St, Newark, NJ 07103
The finished interior includes central air, natural-gas forced-air heating, and a walk-in closet.
Property Size2,400 SF
Price / SF$307.08
Days on Market57
Property Features for 629 S 18Th St
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,669
Amenities
Central Air
Forced Air, Natural Gas
Finished
Walk-In Closet(s)
Off Street, Attached
2-Two Story
Building Details
Year Built
2005
Stories
2
Listing Agency:
eXp Realty, LLC
Listed By:
DAVID H VANEGAS · License #280293
(201) 572-5552
Source:
Evrealestate
Added: Aug 7
Changed: Oct 1
Last Checked: Oct 1 at 1:58PM
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 eXp Realty, LLC
Investment Insights
Based on property information with market context.
This two-story residential income property was built in 2005 and has 2,400 square feet. Interior features include central air, forced-air heating powered by natural gas, finished space, and a walk-in closet. The property also has attached, off-street parking.
Located at 629 S 18th St in Newark, the property is near the cross streets of 17th Avenue and 18th Avenue.
Located at 629 S 18th St in Newark, the property is near the cross streets of 17th Avenue and 18th Avenue.
Key Highlights
- 2,400 square feet
- Two‑story property built in 2005
- Central air and natural‑gas forced‑air heating
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
$43,593
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
5.91%
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%
$871,860
$871.9K
Cap Rate 7%
$622,757
$622.8K
Cap Rate 9%
$484,367
$484.4K
Market Conditions
NOI Build-Up for 2,400 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
$83.5K $34.80/SF
− Vacancy
−$4.3K −$1.77/SF
EGI
$79.3K $33.03/SF
− OpEx
−$35.7K −$14.86/SF
NOI
$43.6K $18.16/SF
Area
ZIP 07103
Vacancy
5.10%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
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%
$871,860
Cap Rate 7%
$622,757
Cap Rate 9%
$484,367
Alternative Uses
Best Use
Apartment 5plus
$622.8K
$544.9K – $726.6K
NOI $43,593 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$858.4K
$751.1K – $1.00M
NOI $60,088 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,414
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
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Frequently Asked Questions
What type of property is this?
Residential income property - The finished interior includes central air, natural-gas forced-air heating, and a walk-in closet.
Where is this residential income property located?
The property is located at 629 S 18Th St Newark, NJ.
What is the asking price?
The asking price for this property is $737,000.
What are key features of this property?
This property features: 2,400 square feet; Two‑story property built in 2005; Central air and natural‑gas forced‑air heating
