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Property profile & analytics
FOR SALE
Residential income homes
163 Park St Montclair, NJ 07042
Entity Owned
15-yr Hold
Free & Clear
Property ID
US59-1607227
For Sale
1 / 25
$1,600,000
163 Park St, Montclair, NJ 07042
View Listing →
Property summary
AI-generated overview
This exceptional Montclair property presents a unique investment opportunity with significant upside. Situated on a sizable 0.8-acre lot, this 4,945 square foot multifamily residence currently operates as a five-unit rental building. The property boasts ample parking, including four garage spaces (one currently rented for $125/month), with additional outdoor parking available for each tenant. All units are currently rented and feature separate utilities, with shared laundry facilities in the basement. The property's zoning allows for flexibility
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1887
Construction
FRAME
Total area
4,945 SF
Lot
0.8 ac (34,948 SF)
Zoning code
R1
APN
13 02408-0000-00022
UPID
US59-1607227
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
by Request
CAP Approach
CAP
$1.28M
Comparable Approach
Comparable
$1.59M
Blend (final)
Blend
$1.30M
Owner & transaction history
163 Park Street Associates LLC · 15 yrs held
163 Park Street Associates LLC
since 2011
1 recorded transaction
Zoning & alternative use
R1 · Montclair, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.9M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,380,000
6.5%
$1,275,000
7%
$1,180,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,350,000
Current use
COMMERCIAL (GENERAL)
$1,890,000
Change: +40% · Conversion: Moderate
Blend value · Realmo final
$1.30M
Range $1.17M – $1.42M · ±10%
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
$262 / 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
$28,717
Tax year 2022
Assessed value
$873,400
Assessed 2023
Previous assessed
$873,400
+0.0% YoY
Effective rate
3.29%
On assessed value
Assessed land
$350,000
Assessed improvement
$523,400
Land market value
$350,000
Improvement market value
$523,400
Total market value
$873,400
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 Sale
Year built
1887
Construction
FRAME
Heating
NONE
Stories
3
Units
1
Total area
4,945 SF
Lot
0.8 ac (34,948 SF)
Zoning code
R1
APN
13 02408-0000-00022
UPID
US59-1607227
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
$1.4M
COMMERCIAL (GENERAL)
Est. value
$1.9M
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
1887
Construction
FRAME
Heating
NONE
Stories
3
Units
1
Lot
0.8 ac
Current owner
From public records · entity-resolved
163 Park Street Associates LLC
Entity
Free & Clear · 15 yrs held
Mailing address
205 ALEXANDER AVE, MONTCLAIR, NJ 07043-2032
Ownership since
2011
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
May 24, 2011
—
163 Park Street Associates LLC
Iversen,alfred & Rosemary
Warranty Deed
—
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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