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Property profile & analytics
FOR LEASE
Residential income homes
145 Park St 2 Montclair, NJ 07042
Entity Owned
2-yr Hold
Free & Clear
Property ID
US59-0567775
For Lease
1 / 27
$2,500/Mo
145 Park St,Unit 2, Montclair, NJ 07042
View Listing →
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1897
Construction
BRICK
Total area
4,087 SF
Lot
0.32 ac (14,000 SF)
Zoning code
R1
APN
13 02408-0000-00027
UPID
US59-0567775
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
$1.43M
CAP Approach
CAP
$1.05M
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$1.43M
Owner & transaction history
Mahaa At Montclair LLC · 2 yrs held
Mahaa At Montclair LLC
since 2024
Last sale
$1.4M
4 recorded transactions
Zoning & alternative use
R1 · Montclair, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.6M
+39.7%
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 Montclair submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Montclair 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
$1,425,000
ML approach
$1,425,000
CAP Approach
CAP Return
Estimation
6%
$1,140,000
6.5%
$1,050,000
7%
$975,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,120,000
Current use
COMMERCIAL (GENERAL)
$1,560,000
Change: +40% · Conversion: Moderate
Blend value · Realmo final
$1.43M
Range $1.28M – $1.57M · ±10% · vs last sale $1.43M (Jan 25 2024)
Last sale anchor
$1.43M
Jan 25 2024
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
$349 / 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
$23,236
Tax year 2022
Assessed value
$706,700
Assessed 2023
Previous assessed
$706,700
+0.0% YoY
Effective rate
3.29%
On assessed value
Assessed land
$350,000
Assessed improvement
$356,700
Land market value
$350,000
Improvement market value
$356,700
Total market value
$706,700
Applied tax rate
13.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
For Lease
Year built
1897
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Total area
4,087 SF
Lot
0.32 ac (14,000 SF)
Zoning code
R1
APN
13 02408-0000-00027
UPID
US59-0567775
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R1 · Montclair, NJ
Zoning R1 · permitted uses
R1 · Montclair, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Montclair. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.6M
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
1897
Construction
BRICK
Heating
NONE
Stories
2
Units
1
Lot
0.32 ac
Current owner
From public records · entity-resolved
Mahaa At Montclair LLC
Entity
Free & Clear · 2 yrs held
Mailing address
145 PARK ST, MONTCLAIR, NJ 07042-3901
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2024
$1,425,000
Mahaa At Montclair LLC
145 Park Street LLC
Deed
—
May 29, 2018
$800,000
145 Pk Street LLC
Korbel,stephen J & Leanne S
Grant Deed
$447,500 · Boiling Springs Svgs Bk
Mar 8, 2017
$273,000
155 Paine Ave Capital LLC
Fannie Mae
Quit Claim Deed
related
—
Sep 17, 2007
—
Daniel Deangelis
Daniel Deangelis
Intrafamily Transfer
related
$429,300 · Real Estate Mortgage Network INC
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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