223 Halsey Rd Parsippany, NJ 07054-5229
Individually Owned
5-yr Hold
Estimated value (blended)
$640k
Range $576k – $704k (±10%)
Implied cap rate
6.50%
In-place · NOI ÷ last sale
Property ID
US59-1286316
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1940
Construction
FRAME
Total area
2,490 SF
Lot
0.24 ac (10,498 SF)
Zoning code
R-4
APN
29 00307-0000-00007
UPID
US59-1286316
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$605k
CAP Approach
CAP
$640k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$640k
Owner & transaction history
since 2021
Last sale
$451,000
3 recorded transactions
Zoning & alternative use
R-4 · Parsippany, NJ
Top alternative use upside
Office building
$510,000
+30.0%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
2 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$640k
Value range
$576k – $704k
±10% around blend
Estimated value / SF
$257 / SF
Confidence
None
1 county-verified comps
Property data
88
Comparable evidence
10
$576k
blend $640k
$704k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,490 SF
Lot area
0.24 ac
Year built
1940
Stories
2
APN
29 00307-0000-00007
Assessed value
$295,500
Annual tax
$9,646
3
Income approach: direct capitalization
Partial preview
Income approach indication
$640k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$695k
@ 6.5% CAP return
$640k
@ 7% CAP return
$595k
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$640k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Alternative use screening
Partial preview
Top alternative use
Office Building
Gross theoretical uplift
+30%
vs current-use indication
Apartment House (5+ Units) · current use
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 1 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
6.50%
Implied, in-place cap rate for this residential income homes
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.50%
9.0%
NOI (est.)
$32k *
Last sale · Jun 2021
$451k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$486k
Move the market yield to see immediate price impact.
Value / SF
$195
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
6.00%6.50%7.00%
$28k
$474k
$437k
$406k
$32k
$526k
$486k
$451k
$35k
$579k
$534k
$496k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
1 found
None confidence · county-verified
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$9,646
Tax year 2022
Assessed value
$295,500
Assessed 2023
Previous assessed
$295,500
+0.0% YoY
Effective rate
3.26%
On assessed value
Assessed land
$140,700
Assessed improvement
$154,800
Land market value
$140,700
Improvement market value
$154,800
Total market value
$295,500
Applied tax rate
29.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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
1940
Construction
FRAME
Heating
NONE
Stories
2
Units
3
Total area
2,490 SF
Lot
0.24 ac (10,498 SF)
Zoning code
R-4
APN
29 00307-0000-00007
UPID
US59-1286316
Jurisdiction
MORRIS
Metro division
NEWARK-UNION, NJ-PA METROPOLITAN DIVISION
Zoning & alternative use
R-4 · Parsippany, NJZoning R-4 · permitted uses
R-4 · Parsippany, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1940
Construction
FRAME
Heating
NONE
Stories
2
Units
3
Lot
0.24 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R-4
Jurisdiction
Parsippany, NJ
Recorded code
R-4
Ownership Intelligence
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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