Updated Duplex with Finished
For Sale
$900,000
9 Memphis Ave, Nutley, NJ 07110
Two matching three-bedroom units feature updated kitchens, hardwood flooring, and generous living and dining areas.
Property Size2,450 SF
Price / SF$367.35
Days on Market48
Property Features for 9 Memphis Ave
General Information
Standard status
Active
Size
2,450 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
hardwood flooring throughout
updated kitchens
stainless steel appliances
quartz countertops
finished walkout basement with summer kitchenette and full bath
fully fenced-in backyard
patio
Building Details
Year Built
1970
Listing Agency:
UNITED REAL ESTATE
Listed By:
PAULINA MOSCICKI
(888) 501-6953
Source:
Luminancerealty
Added: Sep 8
Changed: Oct 13
Last Checked: Oct 6 at 12:31AM
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 UNITED REAL ESTATE
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Investment Insights
Based on property information with market context.
This 2,450-square-foot duplex, built in 1970, contains two matching units with three bedrooms and one full bath apiece. Each residence includes a formal dining room, spacious living room, hardwood floors, oversized windows, and an updated kitchen 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. Outside, the fully fenced backyard includes a patio for outdoor dining and gatherings.
The property is approximately 5 minutes from downtown Nutley, with access to shops, restaurants, parks, and schools. Nearby transportation includes NJ Transit Bus #74, connecting with Delawanna Train Station and Branch Brook Park Station. Route 3, Route 21, and the Garden State Parkway are also accessible.
The property is approximately 5 minutes from downtown Nutley, with access to shops, restaurants, parks, and schools. Nearby transportation includes NJ Transit Bus #74, connecting with Delawanna Train Station and Branch Brook Park Station. Route 3, Route 21, and the Garden State Parkway are also accessible.
Key Highlights
- 2,450‑square‑foot duplex built in 1970
- Two matching units, each with 3 bedrooms and 1 full bath
- Finished walkout basement with summer kitchenette and full bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,004
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,102
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two matching three-bedroom units feature updated kitchens, hardwood flooring, and generous living and dining areas.
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‑foot duplex built in 1970; Two matching units, each with 3 bedrooms and 1 full bath; Finished walkout basement with summer kitchenette and full bath
