Side-by-Side Duplex with Detached
72 Hanford Street Newark, NJ 07114
72 Hanford Street, Newark, NJ, 07114
$475,000
For Sale
$475,000
Side-by-side duplex with two 2-bedroom units and a detached 4-car garage, plus newer gas furnaces and hot water heaters.
Property Size1,470 SF
Price / SF$323.13
Days on Market55
Property Features for 72 Hanford Street
General Information
- Standard status
- Active
- Size
- 1,470 SF
- Property subtype
- Multi Family / Duplex-Side by Side
Building Details
- Year Built
- 1941
Listing agency
REAL
(855) 450-0442
Listed by
FELICIA M. HANKERSON · License #240507
(855) 450-0442
Source
Compass
Added: May 29 Updated: Jul 21 at 11:28AM Checked: Jul 22 at 7:34AM
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 REAL
Investment Insights
Based on property information with market context.
This side-by-side duplex includes two separate units, each offering 2 bedrooms, a living room, a large eat-in kitchen, and a bonus room that can be used as a dining room, den, home office, playroom, or additional living space. A detached 4-car garage provides extra off-street space for storage, workshop use, hobby space, or potential additional income through future opportunities.
The property is located near parks, schools, shopping, public transportation, Newark Liberty International Airport, and major highways. It is also approximately 2 miles from the Lionsgate Newark Studios development.
The units feature newer gas furnaces and hot water heaters. The sale includes buyer responsibility for all inspections, certifications, municipal requirements, Certificate of Occupancy, and any and all repairs required to close.
The property is located near parks, schools, shopping, public transportation, Newark Liberty International Airport, and major highways. It is also approximately 2 miles from the Lionsgate Newark Studios development.
The units feature newer gas furnaces and hot water heaters. The sale includes buyer responsibility for all inspections, certifications, municipal requirements, Certificate of Occupancy, and any and all repairs required to close.
Key Highlights
- Side‑by‑side duplex built in 1941 with two units, each offering 2 bedrooms, living room, large eat‑in kitchen, and a bonus room.
- Each unit includes a full, unfinished basement (Basement: Yes; Basement Description: Full, Unfinished).
- Detached 4‑car garage on‑site for storage, workshop space, or contractor use.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.4k | $25.44 |
| − Vacancy | −$1.8k | −$1.23 |
| EGI | $35.6k | $24.21 |
| − OpEx | −$10.7k | −$7.26 |
| NOI | $24.9k | $16.95 |
1,470 SF · lease $25.44/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$355.9K
$311.4K – $415.2K
NOI $24,911 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$324.9K
$284.3K – $379.0K
NOI $22,742 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$520.8K
$455.7K – $607.7K
NOI $36,459 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Side-by-side duplex with two 2-bedroom units and a detached 4-car garage, plus newer gas furnaces and hot water heaters.
Where is this duplex located?
The property is located at 72 Hanford Street Newark, NJ.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Side‑by‑side duplex built in 1941 with two units, each offering 2 bedrooms, living room, large eat‑in kitchen, and a bonus room.; Each unit includes a full, unfinished basement (Basement: Yes; Basement Description: Full, Unfinished).; Detached 4‑car garage on‑site for storage, workshop space, or contractor use.
