Two-Unit Duplex with Double
For Sale
$650,000
12-14 HILLCREST RD 2, Maplewood, NJ 07040
Corner-lot duplex with two residential units, a full basement, and renovation needs throughout.
Property Size2,100 SF
Price / SF$309.52
Days on Market41
Property Features for 12-14 HILLCREST RD 2
General Information
Standard status
Active
Size
2,100 SF
Total Parking Spaces
2
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
fixer-upper
Units
Unit Mix
1 x 3BR, 1 x 1BR
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Buildings
1
Stories
2
Listing Agency:
Listed By:
DARRELL BAILEY
Source:
Elliman
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 1:24PM
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 DARRELL BAILEY
Investment Insights
Based on property information with market context.
This two-family duplex occupies a corner lot and includes a detached double garage. The first-floor residence is configured with three bedrooms, while the upper unit provides one bedroom. Approximately 2,100+ square feet of living space is complemented by a full basement containing two additional rooms, with the source configuration also identifying potential for another room, a bathroom, and expanded recreation space.
The property requires repairs and updates throughout. Existing layouts may support future reconfiguration, including a possible fourth bedroom on the first floor and a second bedroom upstairs, subject to municipal requirements and buyer due diligence. The address is in Maplewood, near parks, shopping, dining, local amenities, and commuter routes. WalkScore is 68, TransitScore is 55, and BikeScore is 50.
The property requires repairs and updates throughout. Existing layouts may support future reconfiguration, including a possible fourth bedroom on the first floor and a second bedroom upstairs, subject to municipal requirements and buyer due diligence. The address is in Maplewood, near parks, shopping, dining, local amenities, and commuter routes. WalkScore is 68, TransitScore is 55, and BikeScore is 50.
Key Highlights
- Two‑family duplex on a corner lot
- Approximately 2,100+ sq ft of living space
- First‑floor unit configured with 3 bedrooms
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
$35,146
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
5.41%
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%
$702,920
$702.9K
Cap Rate 7%
$502,086
$502.1K
Cap Rate 9%
$390,511
$390.5K
Market Conditions
NOI Build-Up for 2,100 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
$53.7K $25.56/SF
− Vacancy
−$3.5K −$1.65/SF
EGI
$50.2K $23.91/SF
− OpEx
−$15.1K −$7.17/SF
NOI
$35.1K $16.74/SF
Area
Essex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$702,920
Cap Rate 7%
$502,086
Cap Rate 9%
$390,511
Alternative Uses
Best Use
Multifamily LT 5
$502.1K
$439.3K – $585.8K
NOI $35,146 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$461.3K
$403.7K – $538.2K
NOI $32,294 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$548.4K
$479.8K – $639.8K
NOI $38,385 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
710
Businesses Nearby
Explore this area
Business Placement
Demographics for 07040, NJ
25,684
Population
8,981
Households
2.9
Avg Household Size
39
Median Age
69%
College-Educated
96%
High-School Grad
3.9 sq mi
ZIP Area
6,586
Density / Sq Mi
$167,428
Median Household Income
$72,475
Median Earnings
$2,184
Median Rent
$684,600
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 - Corner-lot duplex with two residential units, a full basement, and renovation needs throughout.
Where is this duplex located?
The property is located at 12-14 HILLCREST RD 2 Maplewood, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑family duplex on a corner lot; Approximately 2,100+ sq ft of living space; First‑floor unit configured with 3 bedrooms
