Two-Family
New
For Sale
$849,900
662 18th Ave, Irvington, NJ 07111
Multi-Family, 3-Three Story, Under/Over, Irvington Twp., NJ
Property Size4,191 SF
Lot Size0.07 Acres
Price / SF$202.79
Days on Market2
Property Features for 662 18th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
7
Bathrooms
6
Full bathrooms
5
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 7, Bedroom 5, Bathroom 3, Bathroom 5, Bathroom 1, Bedroom 3, Bedroom 2, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 1
Parking
3
Security features
Security System
Interior features
Carbon Monoxide Detector, Fire Extinguisher, High Ceilings, Security System, Smoke Detector, Vinyl-Linoleum Floors, Walk-In Closet
Lot features
Level Lot
High school
IRVINGTON
Directions
Off of Grove Street on the corner of 18th Avenue and 22nd Street.
Standard status
Active
Size
4,191 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3311
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central air conditioning
in-unit laundry
security system
Building Details
Year built
2026
Floors in Building
3
Number of units
2
Roof type
Composition
Architectural style
Other
Listing Agency:
KELLER WILLIAMS - NJ METRO GROUP · Keller Williams Realty
(973) 783-7400
Listed By:
JAMES HUGHES · License #0454530
(201) 675-1210
Added: Sep 24
Last Checked: Sep 25 at 2:06AM
MLS# 4054999
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.
Investment Insights
Based on property information with market context.
Under construction in Irvington, this 4,191-square-foot duplex has two residences with a total of seven bedrooms and five full bathrooms. The larger unit is a four-bedroom duplex with a first-floor bedroom, a 23-foot living room, an island kitchen, a primary suite with an en-suite bath and walk-in closet, and dedicated laundry. The second residence includes three bedrooms, two full bathrooms, a kitchen with quartz surfaces and stainless steel appliances, island seating, and its own laundry.
Central air conditioning, forced-air heat, recessed lighting, and a one-car garage are among the property’s features. Additional off-street parking is available. The property is on a 0.07-acre lot at 662 18th Avenue in Irvington, New Jersey, and is eligible for the township’s five-year tax abatement.
Central air conditioning, forced-air heat, recessed lighting, and a one-car garage are among the property’s features. Additional off-street parking is available. The property is on a 0.07-acre lot at 662 18th Avenue in Irvington, New Jersey, and is eligible for the township’s five-year tax abatement.
Key Highlights
- 4,191‑square‑foot duplex on a 0.07‑acre lot
- Two residences with seven bedrooms and five full bathrooms
- Four‑bedroom unit includes a first‑floor bedroom and 23‑foot living room
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
$70,141
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
8.25%
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%
$1,402,820
$1.4M
Cap Rate 7%
$1,002,014
$1.0M
Cap Rate 9%
$779,344
$779.3K
Market Conditions
NOI Build-Up for 4,191 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
$107.1K $25.56/SF
− Vacancy
−$6.9K −$1.65/SF
EGI
$100.2K $23.91/SF
− OpEx
−$30.1K −$7.17/SF
NOI
$70.1K $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 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%
$1,402,820
Cap Rate 7%
$1,002,014
Cap Rate 9%
$779,344
Alternative Uses
Best Use
Multifamily LT 5
$1.00M
$876.8K – $1.17M
NOI $70,141 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$920.7K
$805.6K – $1.07M
NOI $64,449 @ 7.0% cap · market cap 7.58%
Theoretical Best
Office A
$1.09M
$957.6K – $1.28M
NOI $76,605 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,386
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences combine a four-bedroom home with a three-bedroom residence, each equipped with its own laundry.
Where is this duplex located?
The property is located at 662 18th Ave Irvington, NJ.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: 4,191‑square‑foot duplex on a 0.07‑acre lot; Two residences with seven bedrooms and five full bathrooms; Four‑bedroom unit includes a first‑floor bedroom and 23‑foot living room
