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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Residential income homes
61 Midland Ave Garfield, NJ 07026-3194
Entity Owned
2-yr Hold
Property ID
US59-1913048
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Construction
FRAME
Total area
2,335 SF
Lot
0.11 ac (4,609 SF)
Zoning code
4
APN
21 00012-0000-00038
UPID
US59-1913048
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
$740k
CAP Approach
CAP
$600k
Comparable Approach
Comparable
$593k
Blend (final)
Blend
$665k
Owner & transaction history
61 Midland Ave Rp LLC · 2 yrs held
61 Midland Ave Rp LLC
since 2024
Last sale
$679,185
7 recorded transactions
Zoning & alternative use
4 · Garfield, NJ
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 Garfield submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Garfield 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
$695,000
ML approach
$740,000
CAP Approach
CAP Return
Estimation
6%
$650,000
6.5%
$600,000
7%
$560,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$765,000
Current use
COMMERCIAL (GENERAL)
$685,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$665k
Range $599k – $732k · ±10% · vs last sale $679k (Jan 20 2023)
Last sale anchor
$679k
Jan 20 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
$285 / 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
$10,623
Tax year 2022
Assessed value
$340,600
Assessed 2023
Previous assessed
$340,600
+0.0% YoY
Effective rate
3.12%
On assessed value
Assessed land
$120,800
Assessed improvement
$219,800
Land market value
$120,800
Improvement market value
$219,800
Total market value
$340,600
Applied tax rate
21.0000
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
Off-Market
Construction
FRAME
Heating
NONE
Stories
2
Units
4
Total area
2,335 SF
Lot
0.11 ac (4,609 SF)
Zoning code
4
APN
21 00012-0000-00038
UPID
US59-1913048
Jurisdiction
BERGEN
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
4 · Garfield, NJ
Zoning 4 · permitted uses
4 · Garfield, NJ
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Garfield. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$765,000
COMMERCIAL (GENERAL)
Est. value
$685,000
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
Construction
FRAME
Heating
NONE
Stories
2
Units
4
Lot
0.11 ac
Current owner
From public records · entity-resolved
61 Midland Ave Rp LLC
Entity
Mailing address
80 W CENTURY RD STE #101, PARAMUS, NJ 07652-1467
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 18, 2024
$670,000
61 Midland Ave Rp LLC
61 Midland Ave Garfield Proud LLC
Deed
—
Jan 20, 2023
$679,185
61 Midland Ave Garfield Proud LLC
Redwood Nj Core Partners LP
Deed
$509,388 · Conventus LLC
Jun 30, 2021
$350,000
Redwood Nj Core Partners LP
Garfield Re Ventures LLC
Deed
$4,200,000 · Vast Bank NA
Jan 18, 2017
$420,000
Garfield Re Ventures LLC
Weisman,alan & Maida
Grant Deed
$410,000 · Other Institutional Lenders
—
—
Alan C Weisman
—
Deed Of Trust
related
$204,000 · Wells Fargo Bank
—
—
Garfield Re Ventures LLC
—
Loan Modification
related
$445,000 · Other Institutional Lenders
—
—
Garfield Re Ventures LLC
—
Deed Of Trust
related
$1,800,000 · Hv Norse LLC
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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