Two-Bedroom
7 Chapman St # 1, Bloomfield, NJ 07003
For Sale
New
Contact for pricing
The first-floor layout includes a living room, dining room, kitchen, and basement laundry hookups.
Property Size1,000 SF
Price / SF$2.40
Days on Market2
Property Features for 7 Chapman St # 1
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Multifamily Units
Amenities
laundry hookups
Unfinished
Wood
Gas-Natural
First
2 Bedrooms,Bath Main,Kitchen,Living Room
2
Hookup Available,In Building
Basement
Bathroom
Laundry Room
Public Water
37 X 100
0.08
Listing Agency:
(551) 239-8040
Listed By:
Reisha Baker
Source:
Skyrealtyintl
Added: Nov 8
Last Checked: Nov 9 at 8:10AM
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 Reisha Baker
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Investment Insights
Based on property information with market context.
This 1,000-square-foot, first-floor apartment has two bedrooms and one bathroom, with separate living and dining rooms and a kitchen. Laundry hookups are located in the basement, and the property includes a one-car garage. Public water serves the property; zoning is RES.
The location offers access to transportation to New York City, shopping centers, and schools.
The location offers access to transportation to New York City, shopping centers, and schools.
Key Highlights
- 1,000‑square‑foot, two‑bedroom apartment with one bathroom
- First‑floor living, dining, and kitchen areas
- Basement laundry hookups and a one‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,378
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,560
$307.6K
Cap Rate 7%
$219,686
$219.7K
Cap Rate 9%
$170,867
$170.9K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$30.0K $30.00/SF
− Vacancy
−$2.0K −$2.04/SF
EGI
$28.0K $27.96/SF
− OpEx
−$12.6K −$12.58/SF
NOI
$15.4K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$307,560
Cap Rate 7%
$219,686
Cap Rate 9%
$170,867
Alternative Uses
Best Use
Apartment 5plus
$219.7K
$192.2K – $256.3K
NOI $15,378 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$261.1K
$228.5K – $304.6K
NOI $18,278 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
821
Businesses Nearby
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Business Placement
Demographics for 07003, NJ
52,955
Population
21,692
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
9,992
Density / Sq Mi
$98,805
Median Household Income
$56,465
Median Earnings
$1,775
Median Rent
$447,600
Median Home Value
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Market
Average Price Trend$/SF for Residential income properties in Bloomfield, NJ
Properties on Market for Residential income properties in Bloomfield
Frequently Asked Questions
What type of property is this?
Residential income property - The first-floor layout includes a living room, dining room, kitchen, and basement laundry hookups.
Where is this residential income property located?
The property is located at 7 Chapman St # 1 Bloomfield, NJ.
What are key features of this property?
This property features: 1,000‑square‑foot, two‑bedroom apartment with one bathroom; First‑floor living, dining, and kitchen areas; Basement laundry hookups and a one‑car garage
