Property Description

Rarely available side-by-side duplex delivering immediate income with significant upside potential. 222-224 Claremont Avenue presents a true buy-and-hold opportunity in one of Essex County's most consistently strong rental markets.Both units are currently occupied under lease through May 31, 2026, generating a combined $4,066/month ($48,792 annually) with room to grow. At lease expiration, market rents for comparable 2-bedroom units in Verona support $2,300/month per unit, pushing gross annual income to $55,200 and meaningfully improving returns for the next owner.Each unit offers a well-proportioned 2-bedroom, 1-bath layout with separate utilities, keeping operating expenses predictable and landlord exposure low. A detached 3-car garage adds a valuable additional income stream or tenant amenity, and in-basement washer/dryer provides added convenience that supports tenant retention. Private driveways for each unit further enhance the property's appeal to quality, long-term renters.Verona continues to attract strong rental demand driven by its top-rated schools, walkable downtown, and easy access to NYC via direct bus and rail connections fundamentals that support low vacancy and durable cash flow year over year.With both leases rolling simultaneously in May 2026, an investor steps in with stabilized income today and a clean opportunity to reset both rents to market at turnover.

Property Features