Two-Bedroom
9 Vernon Ave # 3, Newark, NJ 07108
For Sale
New
Contact for pricing
Third-floor residence with hardwood flooring, central air and heat, and assigned parking.
Property Size1,113 SF
Price / SF$1.98
Days on Market2
Property Features for 9 Vernon Ave # 3
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
hardwood floors
central air and heat
stainless steel appliances
additional storage areas
assigned parking
Finished-Partially
Tile,Wood
2
Third
11x19
15x10
13x10
17x16
12x8
Storage Room
Public Water
15000 SF
0.34
Building Details
Year Built
Listing Agency:
(551) 239-8040
Listed By:
Andrea Lew
Source:
Skyrealtyintl
Added: Nov 8
Last Checked: Nov 9 at 8:07AM
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 Andrea Lew
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,113-square-foot apartment is on the third floor and includes two bedrooms, a large living room, and an eat-in kitchen equipped with stainless steel appliances and ample cabinetry. Hardwood flooring, central air and heat, and two storage areas are also part of the unit. The building dates to 1917.
Shopping, transportation, and major roadways are nearby. Assigned parking is available.
Shopping, transportation, and major roadways are nearby. Assigned parking is available.
Key Highlights
- 1,113‑square‑foot apartment on the third floor
- Two bedrooms, living room, and eat‑in kitchen
- Stainless steel appliances and hardwood flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,219
Suggested Prices Based on Cap Rates
Cap Rate 5%
$344,380
$344.4K
Cap Rate 7%
$245,986
$246.0K
Cap Rate 9%
$191,322
$191.3K
Market Conditions
NOI Build-Up for 1,113 SF
Gross rent
$33.0K $29.64/SF
− Vacancy
−$1.7K −$1.51/SF
EGI
$31.3K $28.13/SF
− OpEx
−$14.1K −$12.66/SF
NOI
$17.2K $15.47/SF
Area
Newark, NJ
Vacancy
5.10%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$344,380
Cap Rate 7%
$245,986
Cap Rate 9%
$191,322
Alternative Uses
Best Use
Apartment 5plus
$246.0K
$215.2K – $287.0K
NOI $17,219 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$394.4K
$345.1K – $460.1K
NOI $27,605 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,233
Businesses Nearby
Explore this area
Business Placement
Demographics for 07108, NJ
28,715
Population
12,862
Households
2.2
Avg Household Size
32
Median Age
17%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
20,511
Density / Sq Mi
$33,960
Median Household Income
$30,336
Median Earnings
$1,098
Median Rent
$326,900
Median Home Value
Market
Average Price Trend$/SF for Residential income properties in Newark, NJ
Properties on Market for Residential income properties in Newark
Frequently Asked Questions
What type of property is this?
Residential income property - Third-floor residence with hardwood flooring, central air and heat, and assigned parking.
Where is this residential income property located?
The property is located at 9 Vernon Ave # 3 Newark, NJ.
What are key features of this property?
This property features: 1,113‑square‑foot apartment on the third floor; Two bedrooms, living room, and eat‑in kitchen; Stainless steel appliances and hardwood flooring
