Duplex with Unfinished
For Sale
$240,000
113 Columbia Ave, Trenton, NJ 08618
Four-bedroom residential property with a fireplace and unfinished lower-level space.
Property Size1,333 SF
Price / SF$180.05
Days on Market31
Property Features for 113 Columbia Ave
General Information
Standard status
Active
Size
1,333 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Listing Agency:
Keller Williams Realty Central Monmouth
(732) 359-3203
Listed By:
Curran Group
(732) 359-3203
Source:
Currangrp
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 28 at 10:13AM
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 Keller Williams Realty Central Monmouth
Investment Insights
Based on property information with market context.
Built in 1925, this duplex includes four bedrooms, one and one-half baths, generous living areas, and a fireplace. An unfinished basement provides additional interior space for storage or future improvement, subject to applicable requirements.
The property is located at 113 Columbia Ave in Trenton, New Jersey, within ZIP code 08618.
The property is located at 113 Columbia Ave in Trenton, New Jersey, within ZIP code 08618.
Key Highlights
- Duplex configuration with 4 bedrooms and 1.5 baths
- Unfinished basement offers additional interior space
- Fireplace included in the 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
$20,345
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
8.48%
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%
$406,900
$406.9K
Cap Rate 7%
$290,643
$290.6K
Cap Rate 9%
$226,056
$226.1K
Market Conditions
NOI Build-Up for 1,333 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
$40.0K $30.00/SF
− Vacancy
−$3.0K −$2.25/SF
EGI
$37.0K $27.75/SF
− OpEx
−$16.6K −$12.49/SF
NOI
$20.3K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
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%
$406,900
Cap Rate 7%
$290,643
Cap Rate 9%
$226,056
Alternative Uses
Best Use
Multifamily LT 5
$336.5K
$294.5K – $392.6K
NOI $23,556 @ 7.0% cap · market cap 9.82%
Second Best
Apartment 5plus
$290.6K
$254.3K – $339.1K
NOI $20,345 @ 7.0% cap · market cap 8.48%
Theoretical Best
Warehouse
$428.9K
$375.3K – $500.4K
NOI $30,021 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 08618, NJ
37,544
Population
15,284
Households
2.5
Avg Household Size
34
Median Age
24%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
6,363
Density / Sq Mi
$48,179
Median Household Income
$33,040
Median Earnings
$1,117
Median Rent
$211,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Four-bedroom residential property with a fireplace and unfinished lower-level space.
Where is this duplex located?
The property is located at 113 Columbia Ave Trenton, NJ.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Duplex configuration with 4 bedrooms and 1.5 baths; Unfinished basement offers additional interior space; Fireplace included in the living areas
