Two-Family Residential Income
For Sale
$649,999
92 Chestnut Street, East Orange, NJ 07018
Two-unit duplex offers a 5-bedroom/2-bath and a 2-bedroom/1-bath layout, plus off-street parking and storage.
Property Size3,276 SF
Days on Market57
Property Features for 92 Chestnut Street
General Information
Standard status
Active
Size
3,276 SF
Property subtype
Multi Family Home
Occupancy
50%
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,928
Building Details
Building Size
3,276 SF
Year Built
1915
Units
2
Listing Agency:
RE/MAX 1st. Advantage
(732) 827-5344
Listed By:
Charles Korb · License #307860
(732) 536-9010
Source:
Michaelfraulo
Added: Jul 14
Changed: Sep 8
Last Checked: Aug 25 at 9:24AM
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 RE/MAX 1st. Advantage
Investment Insights
Based on property information with market context.
This well-maintained two-family duplex offers flexible living and rental income with a spacious 5-bedroom, 2-bath unit and a separate 2-bedroom, 1-bath unit. One unit is currently vacant while the other is owner-occupied, allowing for immediate occupancy or the addition of new tenants. The home features generously sized bedrooms and spacious living areas, with high ceilings throughout.
A private driveway leads to an oversized rear parking area that also functions as a large backyard, providing off-street parking and outdoor space. An unfinished basement adds practical storage.
The property is located about 10 minutes from the train station and provides convenient access to major highways for commutes, including travel to New York City that is described as approximately 30 minutes.
A private driveway leads to an oversized rear parking area that also functions as a large backyard, providing off-street parking and outdoor space. An unfinished basement adds practical storage.
The property is located about 10 minutes from the train station and provides convenient access to major highways for commutes, including travel to New York City that is described as approximately 30 minutes.
Key Highlights
- Two‑family duplex with 5‑bedroom/2‑bath unit and 2‑bedroom/1‑bath unit
- One unit vacant and the other owner‑occupied, offering flexibility for moving in or renting out
- Walkout unfinished basement provides storage 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
$54,828
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
8.44%
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%
$1,096,560
$1.1M
Cap Rate 7%
$783,257
$783.3K
Cap Rate 9%
$609,200
$609.2K
Market Conditions
NOI Build-Up for 3,276 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
$83.7K $25.56/SF
− Vacancy
−$5.4K −$1.65/SF
EGI
$78.3K $23.91/SF
− OpEx
−$23.5K −$7.17/SF
NOI
$54.8K $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%
$1,096,560
Cap Rate 7%
$783,257
Cap Rate 9%
$609,200
Alternative Uses
Best Use
Multifamily LT 5
$783.3K
$685.4K – $913.8K
NOI $54,828 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$719.7K
$629.7K – $839.6K
NOI $50,378 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$855.4K
$748.5K – $998.0K
NOI $59,880 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
50%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,469
Businesses Nearby
Explore this area
Business Placement
Demographics for 07018, NJ
30,429
Population
13,107
Households
2.3
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
1.7 sq mi
ZIP Area
17,899
Density / Sq Mi
$59,039
Median Household Income
$39,630
Median Earnings
$1,410
Median Rent
$314,100
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 - Two-unit duplex offers a 5-bedroom/2-bath and a 2-bedroom/1-bath layout, plus off-street parking and storage.
Where is this duplex located?
The property is located at 92 Chestnut Street East Orange, NJ.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Two‑family duplex with 5‑bedroom/2‑bath unit and 2‑bedroom/1‑bath unit; One unit vacant and the other owner‑occupied, offering flexibility for moving in or renting out; Walkout unfinished basement provides storage space
