Two-Family Residential Income
For Sale
$675,000
94 Van Buren Street, Newark, NJ 07105
Two separate units with private entrances and separate utilities, plus a finished basement and fenced backyard with patio.
Property Size3,176 SF
Price / SF$212.53
Days on Market33
Property Features for 94 Van Buren Street
General Information
Standard status
Active
Size
3,176 SF
Property subtype
Multi-family
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Multifamily Units
2
Amenities
wall-unit air conditioning
fenced backyard
patio
storage shed
separate utilities
private entrances
full finished basement
bonus rooms
sunroom
Building Details
Year Built
1915
Tenancy
Multi
Listing Agency:
RE/MAX 1st ADVANTAGE
Listed By:
ROBERT DEKANSKI
(833) 740-1234
Source:
Actionplusrealty
Added: Jul 10
Changed: Aug 10
Last Checked: Aug 10 at 3:47AM
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 home offers separate utilities and private entrances for each unit. The first-floor layout includes a bright living room, eat-in kitchen, sunroom, two bedrooms, and a full bath with a walk-in shower. The second-floor unit features a spacious living room, formal dining room, eat-in kitchen, three bedrooms, and a full bath with a walk-in shower.
A full finished basement adds additional versatility with its own kitchen, full bath with a stall shower, and multiple bonus rooms. Outside, the property includes a fenced-in backyard with a patio and a storage shed, along with wall-unit air conditioning and on-street parking.
Conveniently positioned near the train and bus line, the home also provides access to shopping, dining, and parks.
A full finished basement adds additional versatility with its own kitchen, full bath with a stall shower, and multiple bonus rooms. Outside, the property includes a fenced-in backyard with a patio and a storage shed, along with wall-unit air conditioning and on-street parking.
Conveniently positioned near the train and bus line, the home also provides access to shopping, dining, and parks.
Key Highlights
- Two‑family home built in 1915 with two separate units featuring private entrances
- First‑floor unit includes bright living room, eat‑in kitchen, sunroom, 2 bedrooms, and full bath with walk‑in shower
- Second‑floor unit offers spacious living room, formal dining room, eat‑in kitchen, 3 bedrooms, and full bath with walk‑in shower
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
$53,313
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
7.90%
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%
$1,066,260
$1.1M
Cap Rate 7%
$761,614
$761.6K
Cap Rate 9%
$592,367
$592.4K
Market Conditions
NOI Build-Up for 3,176 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
$80.0K $25.20/SF
− Vacancy
−$3.9K −$1.22/SF
EGI
$76.2K $23.98/SF
− OpEx
−$22.8K −$7.19/SF
NOI
$53.3K $16.79/SF
Area
ZIP 07105
Vacancy
4.84%
Lease Rate
$25.20 /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%
$1,066,260
Cap Rate 7%
$761,614
Cap Rate 9%
$592,367
Alternative Uses
Best Use
Multifamily LT 5
$761.6K
$666.4K – $888.6K
NOI $53,313 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$696.2K
$609.2K – $812.3K
NOI $48,737 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$1.14M
$994.0K – $1.33M
NOI $79,517 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
3,654
Businesses Nearby
Explore this area
Business Placement
Demographics for 07105, NJ
50,870
Population
20,608
Households
2.5
Avg Household Size
35
Median Age
15%
College-Educated
70%
High-School Grad
4.6 sq mi
ZIP Area
11,059
Density / Sq Mi
$55,752
Median Household Income
$33,175
Median Earnings
$1,600
Median Rent
$445,900
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 - Two separate units with private entrances and separate utilities, plus a finished basement and fenced backyard with patio.
Where is this duplex located?
The property is located at 94 Van Buren Street Newark, NJ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑family home built in 1915 with two separate units featuring private entrances; First‑floor unit includes bright living room, eat‑in kitchen, sunroom, 2 bedrooms, and full bath with walk‑in shower; Second‑floor unit offers spacious living room, formal dining room, eat‑in kitchen, 3 bedrooms, and full bath with walk‑in shower
