Updated Two-Family
New
For Sale
$699,999
117 Mountain View Rd, Hillsborough, NJ 08844
Two-unit property with refreshed interiors, a full basement, and generous outdoor space for parking and storage.
Property Size2,042 SF
Price / SF$342.80
Days on Market2
Property Features for 117 Mountain View Rd
General Information
Standard status
Active
Size
2,042 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1968
Buildings
1
Listing Agency:
EXP REALTY, LLC
Listed By:
NICHOLAS VAUGHAN
(866) 201-6210
Source:
Thebansalteam
Added: Sep 6
Last Checked: Sep 6 at 2:16PM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This two-family duplex at 117 Mountain View Rd includes 2,042 square feet, 5 bedrooms, and 2 full bathrooms. Both units feature practical living areas, hardwood flooring, fresh paint, and other updates. A full basement adds storage and utility space, while newer siding and a newer roof contribute to the property's recent exterior improvements. Built in 1968, the home sits on over an acre with substantial outdoor area and parking. The configuration supports either investment ownership or an arrangement in which an owner occupies one unit and rents the other.
The property is in Hillsborough Township, near major roadways, shopping, dining, and local amenities. Its two-unit layout, updated condition, basement, and sizable lot provide a combination of residential functionality and rental-use flexibility.
The property is in Hillsborough Township, near major roadways, shopping, dining, and local amenities. Its two-unit layout, updated condition, basement, and sizable lot provide a combination of residential functionality and rental-use flexibility.
Key Highlights
- Two‑family duplex with 5 bedrooms and 2 full bathrooms
- 2,042 square feet of total property size
- Over an acre of land with abundant 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
Yes
Highway access
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with refreshed interiors, a full basement, and generous outdoor space for parking and storage.
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‑family duplex with 5 bedrooms and 2 full bathrooms; 2,042 square feet of total property size; Over an acre of land with abundant parking
