Duplex with Detached
For Sale
$459,900
117 Glen Avenue, Phillipsburg, NJ 08865
1920 construction retains original woodwork alongside flexible two-unit living arrangements.
Property Size999 SF
Price / SF$460.36
Days on Market286
Property Features for 117 Glen Avenue
General Information
Standard status
Active
Size
999 SF
Total Parking Spaces
3
Property subtype
Multi Family / Under/Over
Net Operating Income
$999
Units
Unit Mix
1 x 1BR/1BA, 1 x 5BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,358
Amenities
Yes
Asphalt Shingle, Flat
Blinds, Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector
Bilco-Style Door, Full, Unfinished
Open Porch(es), Sidewalk
Aluminum Siding
Building Details
Year Built
1920
Buildings
1
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
KYLE BOYLAN · License #295227
(908) 754-7511
Source:
Compass
Added: Nov 22, 2025
Changed: Aug 31
Last Checked: Aug 30 at 2:54AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
Built in 1920, this Phillipsburg duplex combines original interior trim and wood detailing with a two-unit configuration. The first residence contains 1 bedroom and 1 bathroom, while the upper residence provides 5 bedrooms and 1 full bathroom. Together, the layouts offer distinct options for an owner occupant, extended household, or rental-oriented ownership strategy.
The property occupies a corner lot at 117 Glen Avenue and includes a three-car detached garage that adds parking, storage, or additional rental utility. Exterior features include aluminum siding, an open porch, sidewalk access, and a Bilco-style entry to the full unfinished basement. The address is in Phillipsburg, NJ 08865.
The property occupies a corner lot at 117 Glen Avenue and includes a three-car detached garage that adds parking, storage, or additional rental utility. Exterior features include aluminum siding, an open porch, sidewalk access, and a Bilco-style entry to the full unfinished basement. The address is in Phillipsburg, NJ 08865.
Key Highlights
- Two‑unit duplex built in 1920
- First‑floor unit with 1 bedroom and 1 bathroom
- Second‑floor unit with 5 bedrooms and 1 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
$14,717
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
3.20%
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%
$294,340
$294.3K
Cap Rate 7%
$210,243
$210.2K
Cap Rate 9%
$163,522
$163.5K
Market Conditions
NOI Build-Up for 999 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
$22.2K $22.20/SF
− Vacancy
−$1.2K −$1.15/SF
EGI
$21.0K $21.05/SF
− OpEx
−$6.3K −$6.31/SF
NOI
$14.7K $14.73/SF
Area
Warren County, NJ
Vacancy
5.20%
Lease Rate
$22.20 /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%
$294,340
Cap Rate 7%
$210,243
Cap Rate 9%
$163,522
Alternative Uses
Best Use
Multifamily LT 5
$210.2K
$184.0K – $245.3K
NOI $14,717 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$188.9K
$165.3K – $220.4K
NOI $13,223 @ 7.0% cap · market cap 2.88%
Theoretical Best
Warehouse
$376.9K
$329.8K – $439.7K
NOI $26,383 @ 7.0% cap · market cap 5.74%
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
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 08865, NJ
30,537
Population
14,146
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
41.5 sq mi
ZIP Area
736
Density / Sq Mi
$78,519
Median Household Income
$49,811
Median Earnings
$1,248
Median Rent
$244,200
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 - 1920 construction retains original woodwork alongside flexible two-unit living arrangements.
Where is this duplex located?
The property is located at 117 Glen Avenue Phillipsburg, NJ.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1920; First‑floor unit with 1 bedroom and 1 bathroom; Second‑floor unit with 5 bedrooms and 1 full bathroom
