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Property profile & analytics
OFF-MARKET
Estimated value
$4,535,000
Residential income homes
191 Bellevue Ave Montclair, NJ 07043-1864
Entity Owned
2-yr Hold
Property ID
US59-1325498
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1923
Construction
FRAME
Total area
15,852 SF
Lot
0.46 ac (19,998 SF)
Zoning code
NC
APN
13 02602-0000-00021
UPID
US59-1325498
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
Current use
Occupant on record · Public records
-
Shopify Store Design Marketing & Advertising (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.08M
Comparable Approach
Comparable
$4.36M
Blend (final)
Blend
$4.54M
Owner & transaction history
191 Bellevue Ave LLC · 2 yrs held
191 Bellevue Ave LLC
since 2023
Last sale
$4.9M
2 recorded transactions
Zoning & alternative use
NC · Montclair, NJ
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.9M
+59.3%
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%
$4,420,000
6.5%
$4,080,000
7%
$3,790,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,335,000
Current use
COMMERCIAL (GENERAL)
$6,905,000
Change: +59% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,580,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$4.54M
Range $4.08M – $4.99M · ±10% · vs last sale $4.85M (Dec 14 2023)
Last sale anchor
$4.85M
Dec 14 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
$286 / 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
$80,934
Tax year 2022
Assessed value
$2,461,500
Assessed 2023
Previous assessed
$2,461,500
+0.0% YoY
Effective rate
3.29%
On assessed value
Assessed land
$855,000
Assessed improvement
$1,606,500
Land market value
$855,000
Improvement market value
$1,606,500
Total market value
$2,461,500
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 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
Off-Market
Year built
1923
Construction
FRAME
Heating
NONE
Stories
3
Units
1
Total area
15,852 SF
Lot
0.46 ac (19,998 SF)
Zoning code
NC
APN
13 02602-0000-00021
UPID
US59-1325498
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
NC · Montclair, NJ
Zoning NC · permitted uses
NC · 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
$4.3M
COMMERCIAL (GENERAL)
Est. value
$6.9M
INDUSTRIAL (GENERAL)
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
INDUSTRIAL (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
1923
Construction
FRAME
Heating
NONE
Stories
3
Units
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
191 Bellevue Ave LLC
Entity
Mailing address
191 BELLEVUE TER, BLOOMFIELD, NJ 07003-3150
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2023
$4,850,000
191 Bellevue Ave LLC
Hsu Bellevue Avenur Properties LLC
Deed
$3,000,000 · First Bank
Nov 3, 2022
—
Hsu Bellevue Avenue Properties LLC
Jeffrey Hsu
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.
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