Updated Duplex with Detached
For Sale
$699,000
908 S 16Th St, Newark, NJ 07108
MULTI_FAMILY - Newark City, NJ
Property Size3,156 SF
Lot Size0.11 Acres
Price / SF$221.48
Days on Market60
Property Features for 908 S 16Th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Basement, Bedroom 7, Bedroom 5, Bedroom 4, Bathroom 2, Bedroom 8, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 6, Bathroom 3
Parking
4
Security features
Security System
Interior features
Carbon Monoxide Detector, High Ceilings, Security System, Smoke Detector, Walk-In Closet, Wood Floors
Exterior features
Metal Fence, Sidewalk, Storm Window(s)
Fencing
Fenced
Subdivision
Upper Clinton Hill
Lot features
Level Lot
Directions
Conveniently located just off I-78, take the Fabyan Place exit , continue to Clinton Ave and make a left onto S. 16th Street.
Standard status
Active
Size
3,156 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6930
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Steam
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
finished basement
Building Details
Year built
1915
Floors in Building
3
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS METROPOLITAN · Keller Williams Realty
(973) 539-1120
Listed By:
EMMANUELLE FLEURINOR · License #299511
(973) 539-1120
Added: Jun 16
Changed: Aug 13
Last Checked: Aug 14 at 8:06PM
MLS# 4034782
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 legal two-family duplex offers 3,156 square feet across three levels, with large rooms, wood floors, high ceilings, and abundant natural light. The property includes a finished basement, two bathrooms, three bedrooms, a private driveway, and a detached two-car garage. Exterior improvements include vinyl siding updated in 2023, storm windows, metal fencing, and a sidewalk. Public water and public sewer serve the property, with steam heating and ceiling fan cooling.
The home is located in Newark City near Route 22, I-78, the Garden State Parkway, Newark Liberty International Airport, NJ Transit, shopping, dining, parks, and downtown Newark. The 0.11-acre property is within ZIP Code 07108-1121 and was built in 1915.
The home is located in Newark City near Route 22, I-78, the Garden State Parkway, Newark Liberty International Airport, NJ Transit, shopping, dining, parks, and downtown Newark. The 0.11-acre property is within ZIP Code 07108-1121 and was built in 1915.
Key Highlights
- Legal two‑family duplex with 3,156 square feet across three levels
- Detached two‑car garage and private driveway
- Finished basement with additional usable space
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
$53,482
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
7.65%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,502
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
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family property with three levels, a finished basement, private driveway, and spacious unit layouts.
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 across three levels; Detached two‑car garage and private driveway; Finished basement with additional usable space
