Four-Bedroom Multi-Family
For Sale
$780,000
Pending
1 Pocahontas Street, Morristown, NJ 07960
Well-maintained four-bedroom, three full-bath multifamily property with private lake access.
Property Size1,726 SF
Days on Market159
Property Features for 1 Pocahontas Street
General Information
Standard status
Pending
Size
1,726 SF
Property subtype
2-4 Family
Taxes and HOA fees
Annual Taxes
$10,479
Amenities
4
3
3.0
13
Partial Finished
Vinyl Siding
Building Details
Year Built
1916
Listing Agency:
Compass
Listed By:
Michelle Leonardo · License #2293973
(917) 843-9209
Source:
Compass
Added: Mar 30
Changed: Aug 8
Last Checked: Jul 24 at 2:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This well-maintained multi-family property offers a four-bedroom configuration with three full bathrooms. The home is described as featuring spacious layouts and bright living areas, with flexibility for both investment and owner-occupant use.
The property includes private access to Lake Pocahontas. The listing also notes proximity to downtown Morristown and nearby transportation, shopping, dining, parks, and major highways.
For buyers seeking a multifamily residence with lake access and a larger bedroom and bath layout, this home presents a straightforward option based on the features provided in the listing.
The property includes private access to Lake Pocahontas. The listing also notes proximity to downtown Morristown and nearby transportation, shopping, dining, parks, and major highways.
For buyers seeking a multifamily residence with lake access and a larger bedroom and bath layout, this home presents a straightforward option based on the features provided in the listing.
Key Highlights
- 4‑bedroom, 3 full‑bath multi‑family property
- Built in 1916
- Well‑maintained with spacious, bright living areas
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
$26,542
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
3.40%
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%
$530,840
$530.8K
Cap Rate 7%
$379,171
$379.2K
Cap Rate 9%
$294,911
$294.9K
Market Conditions
NOI Build-Up for 1,726 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
$51.8K $30.00/SF
− Vacancy
−$3.5K −$2.04/SF
EGI
$48.3K $27.96/SF
− OpEx
−$21.7K −$12.58/SF
NOI
$26.5K $15.38/SF
Area
Morris County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$530,840
Cap Rate 7%
$379,171
Cap Rate 9%
$294,911
Alternative Uses
Best Use
Apartment 5plus
$379.2K
$331.8K – $442.4K
NOI $26,542 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$450.7K
$394.4K – $525.8K
NOI $31,549 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,466
Businesses Nearby
Explore this area
Business Placement
Demographics for 07960, NJ
45,609
Population
18,978
Households
2.4
Avg Household Size
40
Median Age
68%
College-Educated
94%
High-School Grad
34.6 sq mi
ZIP Area
1,318
Density / Sq Mi
$149,462
Median Household Income
$75,266
Median Earnings
$2,173
Median Rent
$701,100
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?
Multifamily property - Well-maintained four-bedroom, three full-bath multifamily property with private lake access.
Where is this multifamily property located?
The property is located at 1 Pocahontas Street Morristown, NJ.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 4‑bedroom, 3 full‑bath multi‑family property; Built in 1916; Well‑maintained with spacious, bright living areas
