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Property profile & analytics
FOR SALE
Residential income homes
220 Passaic Ave Belleville, NJ 07109
Entity Owned
4-yr Hold
Free & Clear
Property ID
US59-0567793
For Sale
1 / 25
$2,000,000
220 Passaic Ave, Belleville, NJ 07109
View Listing →
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1928
Construction
BRICK
Total area
5,700 SF
Lot
0.13 ac (5,484 SF)
APN
01 05006-0000-00006
UPID
US59-0567793
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
$1.06M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$970k
Owner & transaction history
Mvj Enterprises LLC · 4 yrs held
Mvj Enterprises LLC
since 2022
Last sale
$750,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Belleville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belleville 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
$1,060,000
ML approach
$1,055,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,600,000
Current use
COMMERCIAL (GENERAL)
$1,340,000
Change: -16% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,285,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±10% · vs last sale $750k (Jun 2 2022)
Last sale anchor
$750k
Jun 2 2022
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
$170 / 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
$19,259
Tax year 2022
Assessed value
$500,100
Assessed 2023
Previous assessed
$500,100
+0.0% YoY
Effective rate
3.85%
On assessed value
Assessed land
$210,000
Assessed improvement
$290,100
Land market value
$210,000
Improvement market value
$290,100
Total market value
$500,100
Applied tax rate
1.0000
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
For Sale
Year built
1928
Construction
BRICK
Heating
NONE
Stories
3
Units
1
Total area
5,700 SF
Lot
0.13 ac (5,484 SF)
APN
01 05006-0000-00006
UPID
US59-0567793
Jurisdiction
ESSEX
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.3M
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
1928
Construction
BRICK
Heating
NONE
Stories
3
Units
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Mvj Enterprises LLC
Entity
Free & Clear · 4 yrs held
Mailing address
270 BLVD BOULEVARD, MOUNTAIN LAKES, NJ 07046-1231
Ownership since
2022
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
Jun 2, 2022
$750,000
Mvj Enterprises LLC
220 Passaic Avenue LLC
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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