Spacious Top-Floor Newark
For Sale
$280,000
776 N 6th Street #C12, Newark, NJ 07107
Well-maintained two-bedroom condo near Branch Brook Park.
Property Size990 SF
Price / SF$282.83
Days on Market368
Property Features for 776 N 6th Street #C12
General Information
Standard status
Active
Size
990 SF
Property subtype
Condominium
Amenities
2 Zoned AC
Deck, Shingle
Building Details
Building Size
990 SF
Year Built
1990
Listing Agency:
Weichert Realtors-Toms River
(732) 240-0500
Listed By:
Frances M Gratacos · License #3482882
(732) 240-0500
Source:
Kw
Added: Aug 24, 2025
Changed: Aug 21
Last Checked: Aug 25 at 4:56PM
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 Weichert Realtors-Toms River
Investment Insights
Based on property information with market context.
This well-maintained, spacious two-bedroom condominium is located in the North Newark area on the Belleville border. Situated on the top (3rd) floor, the residence features an abundance of natural light and a comfortable layout. The property includes two generously sized bedrooms, a charming kitchen, a full bathroom, and an open-concept living and dining area. Additional features include an in-unit laundry room, ample closet space, and a private balcony. The unit also comes with one assigned parking space and a dedicated storage area. Recent updates include a newly rebuilt balcony, new built-in A/C units in both bedrooms, a new ceiling fan in the dining room, and a new stainless-steel stove. The property is conveniently located just minutes from Branch Brook Park, renowned for its annual Cherry Blossom Festival, and offers easy access to train and bus transportation, major highways, restaurants, shopping, and a swift commute to New York City. The property is a 990 square foot residential income property and multifamily property.
Key Highlights
- Prime location near Branch Brook Park, transportation, highways, restaurants, and shopping, with easy access to NYC.
- Move‑in ready condition with recent updates including a rebuilt balcony, new A/C units, ceiling fan, and stainless‑steel stove.
- Spacious two‑bedroom layout with open concept living and dining area, ideal for entertaining.
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
$15,176
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
5.42%
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%
$303,520
$303.5K
Cap Rate 7%
$216,800
$216.8K
Cap Rate 9%
$168,622
$168.6K
Market Conditions
NOI Build-Up for 990 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
$29.1K $29.40/SF
− Vacancy
−$1.5K −$1.53/SF
EGI
$27.6K $27.87/SF
− OpEx
−$12.4K −$12.54/SF
NOI
$15.2K $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%
$303,520
Cap Rate 7%
$216,800
Cap Rate 9%
$168,622
Alternative Uses
Best Use
Apartment 5plus
$216.8K
$189.7K – $252.9K
NOI $15,176 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$387.3K
$338.9K – $451.8K
NOI $27,110 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,468
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained two-bedroom condo near Branch Brook Park.
Where is this apartment building located?
The property is located at 776 N 6th Street #C12 Newark, NJ.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Prime location near Branch Brook Park, transportation, highways, restaurants, and shopping, with easy access to NYC.; Move‑in ready condition with recent updates including a rebuilt balcony, new A/C units, ceiling fan, and stainless‑steel stove.; Spacious two‑bedroom layout with open concept living and dining area, ideal for entertaining.
