Remodeled Two-Family
For Sale
$399,000
14-16 Church Street, Sussex, NJ 07461
MULTI_FAMILY - Sussex, NJ
Property Size2,000 SF
Lot Size0.11 Acres
Price / SF$199.50
Days on Market55
Property Features for 14-16 Church Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 5, Basement, Bedroom 4, Bathroom 1, Bedroom 2, Bedroom 3
Basement
Partially Finished
Directions
14-16 Church St, Sussex, NJ 07461
Standard status
Active
APN
21-00607-0000-00003
Size
2,000 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5817
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Oil
Water source
Public
Building Details
Floors in Building
2
Number of units
2
Listing Agency:
RE/MAX Central · RE/MAX International
(732) 972-1000
Listed By:
George Pavlushkin · License #1324942
(732) 972-1000
Added: Jul 8
Changed: Aug 7
Last Checked: Aug 31 at 6:06AM
MLS# 22620739
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Discover this fully remodeled two-family duplex at 14-16 Church Street in Sussex, NJ. The home is arranged with two separate units and has been updated throughout with modern finishes and functional floor plans.
Unit one features three bedrooms and one full bathroom, and unit two features two bedrooms and one full bathroom. Both units are supported by public utilities, including public water and public sewer, helping keep ongoing services straightforward. The property also includes a basement.
Additional practical details include approximately 2,000 square feet of total property size and heating provided by oil with baseboard systems. Set on a 0.11-acre lot, this duplex offers a solid option for buyers seeking a renovated two-family layout with clear, well-defined unit configurations.
Unit one features three bedrooms and one full bathroom, and unit two features two bedrooms and one full bathroom. Both units are supported by public utilities, including public water and public sewer, helping keep ongoing services straightforward. The property also includes a basement.
Additional practical details include approximately 2,000 square feet of total property size and heating provided by oil with baseboard systems. Set on a 0.11-acre lot, this duplex offers a solid option for buyers seeking a renovated two-family layout with clear, well-defined unit configurations.
Key Highlights
- Fully remodeled two‑family duplex at 14‑16 Church Street, Sussex, NJ 07461
- Unit 1: three bedrooms and one full bathroom
- Unit 2: two bedrooms and one full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,472
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$669,440
$669.4K
Cap Rate 7%
$478,171
$478.2K
Cap Rate 9%
$371,911
$371.9K
Market Conditions
NOI Build-Up for 2,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.1K $25.56/SF
− Vacancy
−$3.3K −$1.65/SF
EGI
$47.8K $23.91/SF
− OpEx
−$14.3K −$7.17/SF
NOI
$33.5K $16.74/SF
Area
Sussex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$669,440
Cap Rate 7%
$478,171
Cap Rate 9%
$371,911
Alternative Uses
Best Use
Multifamily LT 5
$478.2K
$418.4K – $557.9K
NOI $33,472 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$439.4K
$384.5K – $512.6K
NOI $30,756 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 07461, NJ
18,530
Population
7,972
Households
2.3
Avg Household Size
44
Median Age
28%
College-Educated
93%
High-School Grad
83.0 sq mi
ZIP Area
223
Density / Sq Mi
$104,441
Median Household Income
$46,590
Median Earnings
$1,456
Median Rent
$338,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully remodeled duplex with a 3-bedroom/1-bath unit and a 2-bedroom/1-bath unit, served by public water and sewer.
Where is this duplex located?
The property is located at 14-16 Church Street Sussex, NJ.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Fully remodeled two‑family duplex at 14‑16 Church Street, Sussex, NJ 07461; Unit 1: three bedrooms and one full bathroom; Unit 2: two bedrooms and one full bathroom
