Three-Unit Residential
New
For Sale
$849,900
216 Amherst Street, Highland Park, NJ 08904
Residential Income, Highland Park, NJ
Property Size2,583 SF
Lot Size0.12 Acres
Price / SF$329.04
Days on Market5
Property Features for 216 Amherst Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA
Zoning description
Conform to Zoning
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Dining Room, Bathroom 3, Bathroom 1, Bathroom 4, Basement
Parking features
Garage
Patio and Porch features
Deck, Patio, Porch
Interior features
Unit 1(Dining Room, 2 Bedrooms, Kitchen, Living Room), Unit 2(3 Bedrooms, Kitchen, 1 Bath), Unit 3(1 Bedroom, Kitchen, 1 Bath, Living Room)
Exterior features
Patio, Curbs, Deck, Sidewalk, Yard, Porch
Appliances
Water Heater(See Remarks, Gas), Water Heater, Unit 1(Dryer, Range/Oven, Refrigerator, Washer), Unit 2(Range/Oven, Refrigerator)
Subdivision
Triangle
Lot features
Near Shopping, Near Train, Near Public Transit
Elementary school district
Highland Park Borough School D
Middle school district
Highland Park Borough School D
High school district
Highland Park Borough School D
Directions
Woodbridge Ave to Amherst
Standard status
Active
APN
0703809000000027
Size
2,583 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
17117
Utilities
Sewer type
Public Sewer
Heating system
Central, Hot Water(Heating), Radiant, Other (Heating)
Water source
Public
Amenities
hardwood floors
full basement
Building Details
Year built
1900
Floors in Building
3
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
BEST REALTY · RE/MAX International
(732) 819-8895
Listed By:
Bruce Parker · License #9482948
(908) 202-5738
Added: Sep 23
Changed: Sep 24
Last Checked: Sep 27 at 2:06PM
MLS# 2705039R
Copyright © 2026 All Jersey 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.
This 2,583-square-foot triplex dates to 1900 and sits on a 0.124-acre parcel. Its three residences include two-, three-, and one-bedroom layouts, with kitchens in each unit. A full basement and two-car garage provide additional space, while a deck, patio, and porch offer outdoor areas. The property has RA zoning and public water and sewer service.
Shopping, banks, postal services, and entertainment are nearby. Rutgers University is in the area, and the property is positioned between the New Brunswick and Edison train stations. The sale also includes a separate lot on Meriland.
Shopping, banks, postal services, and entertainment are nearby. Rutgers University is in the area, and the property is positioned between the New Brunswick and Edison train stations. The sale also includes a separate lot on Meriland.
Key Highlights
- Three residential units with two-, three-, and one‑bedroom layouts
- 2,583 square feet on a 0.124‑acre parcel
- Two‑car garage and full basement
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
$43,230
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
5.09%
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%
$864,600
$864.6K
Cap Rate 7%
$617,571
$617.6K
Cap Rate 9%
$480,333
$480.3K
Market Conditions
NOI Build-Up for 2,583 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
$66.0K $25.56/SF
− Vacancy
−$4.3K −$1.65/SF
EGI
$61.8K $23.91/SF
− OpEx
−$18.5K −$7.17/SF
NOI
$43.2K $16.74/SF
Area
Middlesex 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%
$864,600
Cap Rate 7%
$617,571
Cap Rate 9%
$480,333
Alternative Uses
Best Use
Multifamily LT 5
$617.6K
$540.4K – $720.5K
NOI $43,230 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$567.4K
$496.5K – $662.0K
NOI $39,721 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$674.5K
$590.2K – $786.9K
NOI $47,213 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,044
Businesses Nearby
Explore this area
Business Placement
Demographics for 08904, NJ
15,072
Population
6,858
Households
2.2
Avg Household Size
36
Median Age
70%
College-Educated
94%
High-School Grad
1.8 sq mi
ZIP Area
8,373
Density / Sq Mi
$101,991
Median Household Income
$58,786
Median Earnings
$1,881
Median Rent
$463,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences are complemented by basement storage, a two-car garage, and outdoor areas.
Where is this triplex located?
The property is located at 216 Amherst Street Highland Park, NJ.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Three residential units with two-, three-, and one‑bedroom layouts; 2,583 square feet on a 0.124‑acre parcel; Two‑car garage and full basement
