Duplex with Finished Walkout
For Sale
$900,000
9 Memphis Ave, Nutley, NJ 07110
Multi-Family, Under/Over, Nutley Twp., NJ
Property Size2,450 SF
Price / SF$367.35
Days on Market80
Property Features for 9 Memphis Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 2
Parking
4
Patio and Porch features
Patio
Interior features
Carbon Monoxide Detector, Smoke Detector, Wood Floors
Exterior features
Metal Fence, Patio
Fencing
Fenced
Elementary school
LINCOLN
Middle school
JOHN H. WALKER
High school
NUTLEY
Directions
Harrison to Memphis
Standard status
Active
Size
2,450 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
18072
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Amenities
finished walkout basement
fenced-in backyard
patio
Building Details
Year built
1970
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
UNITED REAL ESTATE
(888) 501-6953
Listed By:
PAULINA MOSCICKI
(888) 501-6953
Added: Jun 3
Changed: Aug 19
Last Checked: Aug 21 at 11:06AM
MLS# 4031812
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.
This 2,450-square-foot duplex, built in 1970, contains two matching residences with three bedrooms and one full bath on each floor. Both units include formal dining rooms, living rooms, hardwood flooring, oversized windows, and kitchens updated with stainless steel appliances and quartz countertops. A finished walkout basement adds a summer kitchenette and full bath, expanding the property’s usable interior space.
The exterior includes a large fully fenced backyard with a patio, while public water and public sewer serve the property. Located in Nutley Twp., the home is approximately 5 minutes from downtown shops, restaurants, parks, and schools. NJ Transit Bus #74 provides connections to Delawanna Train Station and Branch Brook Park Station, with Route 3, Route 21, and the Garden State Parkway nearby.
The exterior includes a large fully fenced backyard with a patio, while public water and public sewer serve the property. Located in Nutley Twp., the home is approximately 5 minutes from downtown shops, restaurants, parks, and schools. NJ Transit Bus #74 provides connections to Delawanna Train Station and Branch Brook Park Station, with Route 3, Route 21, and the Garden State Parkway nearby.
Key Highlights
- 2,450 square feet with two matching three‑bedroom, one‑bath residences
- Finished walkout basement with summer kitchenette and full bath
- Updated kitchens with stainless steel appliances and quartz countertops
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
$41,004
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
4.56%
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%
$820,080
$820.1K
Cap Rate 7%
$585,771
$585.8K
Cap Rate 9%
$455,600
$455.6K
Market Conditions
NOI Build-Up for 2,450 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
$62.6K $25.56/SF
− Vacancy
−$4.0K −$1.65/SF
EGI
$58.6K $23.91/SF
− OpEx
−$17.6K −$7.17/SF
NOI
$41.0K $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%
$820,080
Cap Rate 7%
$585,771
Cap Rate 9%
$455,600
Alternative Uses
Best Use
Multifamily LT 5
$585.8K
$512.6K – $683.4K
NOI $41,004 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$538.2K
$471.0K – $627.9K
NOI $37,676 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$639.7K
$559.8K – $746.4K
NOI $44,782 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,108
Businesses Nearby
Explore this area
Business Placement
Demographics for 07110, NJ
30,149
Population
11,981
Households
2.5
Avg Household Size
41
Median Age
50%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
8,867
Density / Sq Mi
$115,215
Median Household Income
$67,621
Median Earnings
$1,698
Median Rent
$489,900
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?
Duplex - Two matching residences feature updated kitchens, hardwood floors, private outdoor space, and supplemental finished basement area.
Where is this duplex located?
The property is located at 9 Memphis Ave Nutley, NJ.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 2,450 square feet with two matching three‑bedroom, one‑bath residences; Finished walkout basement with summer kitchenette and full bath; Updated kitchens with stainless steel appliances and quartz countertops
