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Property profile & analytics
OFF-MARKET
Estimated value
$4,015,000
Residential income homes
123 Milligan Pl, South Orange, NJ 07079-1928
Entity Owned
2-yr Hold
Property ID
US59-1435069
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1962
Construction
BRICK
Total area
9,600 SF
Lot
0.36 ac (15,725 SF)
Zoning code
R50
APN
19 02013-0000-00009
UPID
US59-1435069
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.59M
CAP Approach
CAP
$2.47M
Comparable Approach
Comparable
$4.32M
Blend (final)
Blend
$4.02M
Owner & transaction history
123 Milligan LLC · 2 yrs held
123 Milligan LLC
since 2023
Last sale
$4.1M
1 recorded transaction
Zoning & alternative use
R50 · South Orange, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.5M
+33.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs South Orange submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Orange submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$5,590,000
CAP Approach
CAP Return
Estimation
6%
$2,680,000
6.5%
$2,470,000
7%
$2,295,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,625,000
Current use
COMMERCIAL (GENERAL)
$3,505,000
Change: +33% · Conversion: Moderate
Blend value · Realmo final
$4.02M
Range $3.61M – $4.42M · ±10% · vs last sale $4.10M (Sep 13 2023)
Last sale anchor
$4.10M
Sep 13 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$418 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$64,694
Tax year 2022
Assessed value
$1,844,700
Assessed 2023
Previous assessed
$1,844,700
+0.0% YoY
Effective rate
3.51%
On assessed value
Assessed land
$205,700
Assessed improvement
$1,639,000
Land market value
$205,700
Improvement market value
$1,639,000
Total market value
$1,844,700
Applied tax rate
19.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1962
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Total area
9,600 SF
Lot
0.36 ac (15,725 SF)
Zoning code
R50
APN
19 02013-0000-00009
UPID
US59-1435069
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R50 · South Orange, NJ
Zoning R50 · permitted uses
R50 · South Orange, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South Orange. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1962
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Lot
0.36 ac
Current owner
From public records · entity-resolved
123 Milligan LLC
Entity
Mailing address
30 GASTON RD, MORRISTOWN, NJ 07960-3403
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2023
$4,100,000
123 Milligan LLC
Jon M Greenebaum
Deed
$2,573,000 · Walker & Dunlop LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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