Updated Duplex with Two-Car
For Sale
$699,000
908 S 16th St, Newark, NJ 07108
Legal two-family property spanning three levels with a finished basement, private driveway, and flexible living space.
Property Size3,156 SF
Price / SF$221.48
Days on Market54
Property Features for 908 S 16th St
General Information
Standard status
Active
Size
3,156 SF
Property subtype
Multi-Family
Building Details
Year Built
1915
Listing Agency:
KELLER WILLIAMS METROPOLITAN
Listed By:
EMMANUELLE FLEURINOR · License #1754066
(973) 539-1120
Source:
Goldstandardrealty
Added: Aug 23
Changed: Oct 6
Last Checked: Oct 7 at 1:51PM
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 KELLER WILLIAMS METROPOLITAN
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Investment Insights
Based on property information with market context.
This legal duplex contains 3,156 square feet across three levels and was built in 1915. Exterior improvements completed in 2023 include vinyl siding, while the property also offers a private driveway and detached two-car garage. Both units feature large rooms and abundant natural light, and the finished basement adds space for recreation, storage, or work-from-home use.
The property is in Newark’s Upper Clinton Hill neighborhood, with access to Route 22, I-78, the Garden State Parkway, NJ Transit, Newark Liberty International Airport, shopping, dining, parks, and downtown Newark. Its location also provides access to New York City for commuters.
The property is in Newark’s Upper Clinton Hill neighborhood, with access to Route 22, I-78, the Garden State Parkway, NJ Transit, Newark Liberty International Airport, shopping, dining, parks, and downtown Newark. Its location also provides access to New York City for commuters.
Key Highlights
- Legal two‑family duplex with 3,156 square feet
- Updated in 2023 with vinyl siding
- Three‑level layout with finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,482
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,069,640
$1.1M
Cap Rate 7%
$764,029
$764.0K
Cap Rate 9%
$594,244
$594.2K
Market Conditions
NOI Build-Up for 3,156 SF
Gross rent
$80.3K $25.44/SF
− Vacancy
−$3.9K −$1.23/SF
EGI
$76.4K $24.21/SF
− OpEx
−$22.9K −$7.26/SF
NOI
$53.5K $16.95/SF
Area
Newark, NJ
Vacancy
4.84%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,069,640
Cap Rate 7%
$764,029
Cap Rate 9%
$594,244
Alternative Uses
Best Use
Multifamily LT 5
$764.0K
$668.5K – $891.4K
NOI $53,482 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$697.5K
$610.3K – $813.8K
NOI $48,825 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$1.12M
$978.4K – $1.30M
NOI $78,275 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,484
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family property spanning three levels with a finished basement, private driveway, and flexible living space.
Where is this duplex located?
The property is located at 908 S 16th St Newark, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Legal two‑family duplex with 3,156 square feet; Updated in 2023 with vinyl siding; Three‑level layout with finished basement
