Three-Story Residential Income
New
For Sale
$885,000
63 S 7Th St, Newark, NJ 07107
Detached property with natural gas, off-street parking, and a partially finished walk-out basement.
Property Size3,475 SF
Price / SF$254.75
Days on Market7
Property Features for 63 S 7Th St
General Information
Standard status
Active
Size
3,475 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,438
Amenities
Natural Gas
Full, Partially Finished, Walk-Out Access
Shared Driveway, Off Street, Detached
3-Three Story
Building Details
Building Size
3,475 SF
Year Built
1910
Stories
3
Listing Agency:
eXp Realty, LLC
(973) 931-8869
Listed By:
KATHERINE MONCADA-TABORDA · License #1971660
(973) 931-8869
Source:
Evrealestate
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 10 at 7:28AM
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 detached residential income property was built in 1910 and extends across three stories. Interior features include natural gas service and a full, partially finished basement with walk-out access. The property also includes off-street parking and a shared driveway.
Located at 63 S 7th St in Newark City, the property sits between South Orange Avenue and 13th Avenue, with access from South Orange Avenue to South 7th Street. The property is in Essex County.
Located at 63 S 7th St in Newark City, the property sits between South Orange Avenue and 13th Avenue, with access from South Orange Avenue to South 7th Street. The property is in Essex County.
Key Highlights
- Three‑story detached residential income property
- Built in 1910
- Full, partially finished basement with walk‑out access
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
$53,254
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
6.02%
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%
$1,065,080
$1.1M
Cap Rate 7%
$760,771
$760.8K
Cap Rate 9%
$591,711
$591.7K
Market Conditions
NOI Build-Up for 3,474 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
$102.1K $29.40/SF
− Vacancy
−$5.3K −$1.53/SF
EGI
$96.8K $27.87/SF
− OpEx
−$43.6K −$12.54/SF
NOI
$53.3K $15.33/SF
Area
ZIP 07107
Vacancy
5.20%
Lease Rate
$29.40 /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%
$1,065,080
Cap Rate 7%
$760,771
Cap Rate 9%
$591,711
Alternative Uses
Best Use
Apartment 5plus
$760.8K
$665.7K – $887.6K
NOI $53,254 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.59M
NOI $95,132 @ 7.0% cap · market cap 10.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,673
Businesses Nearby
Explore this area
Business Placement
Demographics for 07107, NJ
41,627
Population
16,084
Households
2.6
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
1.6 sq mi
ZIP Area
26,017
Density / Sq Mi
$49,892
Median Household Income
$35,700
Median Earnings
$1,259
Median Rent
$353,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Detached property with natural gas, off-street parking, and a partially finished walk-out basement.
Where is this residential income property located?
The property is located at 63 S 7Th St Newark, NJ.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Three‑story detached residential income property; Built in 1910; Full, partially finished basement with walk‑out access
