Updated Duplex with Full
New
For Sale
$699,999
117 Mountain View Rd, Hillsborough, NJ 08844
Multi-Family, 2-Two Story, Under/Over, Hillsborough Twp., NJ
Property Size2,042 SF
Lot Size1.03 Acres
Price / SF$342.80
Days on Market2
Property Features for 117 Mountain View Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 4, Basement, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Parking
6
Interior features
Wood Floors
Lot features
Level Lot
Directions
117 Mountain View Road
Standard status
Active
Size
2,042 SF
Lot size
1.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10109
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Other (Heating)
Water source
Well
Building Details
Year built
1968
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
NICHOLAS VAUGHAN
(866) 201-6210
Added: Aug 28
Last Checked: Aug 29 at 3:06AM
MLS# 4049474
Copyright © 2026 Garden State MLS, LLC. 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 two-story duplex contains 2,042 square feet with five bedrooms and two full bathrooms across its two-unit layout. Interior features include hardwood floors, fresh paint, and updates throughout, while each unit provides defined living areas and natural light. A full basement adds storage and utility space.
The property occupies 1.03 acres at 117 Mountain View Rd in Hillsborough Twp., NJ. Exterior improvements include newer siding and a newer shingle roof. The site also offers ample parking, with a well water source and public sewer service. Built in 1968, the property supports either continued two-unit occupancy or an owner-occupant arrangement with one unit available for rental income.
The property occupies 1.03 acres at 117 Mountain View Rd in Hillsborough Twp., NJ. Exterior improvements include newer siding and a newer shingle roof. The site also offers ample parking, with a well water source and public sewer service. Built in 1968, the property supports either continued two-unit occupancy or an owner-occupant arrangement with one unit available for rental income.
Key Highlights
- Two‑unit duplex with 2,042 square feet of living space
- Five bedrooms and 2 full bathrooms
- Situated on 1.03 acres with ample parking
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
$29,143
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
4.16%
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%
$582,860
$582.9K
Cap Rate 7%
$416,329
$416.3K
Cap Rate 9%
$323,811
$323.8K
Market Conditions
NOI Build-Up for 2,042 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
$44.1K $21.60/SF
− Vacancy
−$2.5K −$1.21/SF
EGI
$41.6K $20.39/SF
− OpEx
−$12.5K −$6.12/SF
NOI
$29.1K $14.27/SF
Area
Somerset County, NJ
Vacancy
5.61%
Lease Rate
$21.60 /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%
$582,860
Cap Rate 7%
$416,329
Cap Rate 9%
$323,811
Alternative Uses
Best Use
Multifamily LT 5
$416.3K
$364.3K – $485.7K
NOI $29,143 @ 7.0% cap · market cap 4.16%
Second Best
Apartment 5plus
$362.3K
$317.1K – $422.7K
NOI $25,364 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$533.2K
$466.6K – $622.1K
NOI $37,324 @ 7.0% cap · market cap 5.33%
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
129
Businesses Nearby
Explore this area
Business Placement
Demographics for 08844, NJ
43,333
Population
16,168
Households
2.7
Avg Household Size
42
Median Age
62%
College-Educated
96%
High-School Grad
55.2 sq mi
ZIP Area
785
Density / Sq Mi
$153,785
Median Household Income
$74,977
Median Earnings
$2,171
Median Rent
$537,300
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 - Two-story duplex with hardwood floors, newer siding, and a shingle roof on an over-acre lot.
Where is this duplex located?
The property is located at 117 Mountain View Rd Hillsborough, NJ.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: Two‑unit duplex with 2,042 square feet of living space; Five bedrooms and 2 full bathrooms; Situated on 1.03 acres with ample parking
