Two-Unit Duplex
For Sale
$619,900
Pending
1216 Broadway, Hillside, NJ 07205
Multi-Family, Hillside, NJ
Property Size1,892 SF
Lot Size0.07 Acres
Days on Market48
Property Features for 1216 Broadway
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 1
Basement
Partially Finished, Full
Directions
US-22E onto Bloy St, right Liberty Ave, left onto Bryan Street then Broadway
Standard status
Pending
APN
07-00904-0000-00009
Size
1,892 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9504
Utilities
Sewer type
Public Sewer
Heating system
Radiant
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1922
Floors in Building
2
Number of units
2
Listing Agency:
EXIT Realty East Coast Shirvanian
(732) 946-2000
Listed By:
Marcia Lentini · License #1866417
(732) 977-3325
Added: Aug 4
Changed: Sep 16
Last Checked: Sep 20 at 12:06AM
MLS# 22623934
Copyright © 2026 More MLS. 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.
Built in 1922, this two-unit duplex contains 1,892 square feet on a 0.07-acre lot. The layout includes five bedrooms, two bathrooms, a basement, and separate living spaces across the residential configuration. Radiant heating and multi-unit cooling serve the property, while public water and public sewer are available.
The property is located at 1216 Broadway in Hillside, Union County, New Jersey, within postal code 07205. Its documented features provide a straightforward two-family residential format with established utility connections and functional heating and cooling systems.
The property is located at 1216 Broadway in Hillside, Union County, New Jersey, within postal code 07205. Its documented features provide a straightforward two-family residential format with established utility connections and functional heating and cooling systems.
Key Highlights
- Two‑unit duplex with separate living spaces
- 1,892 square feet on a 0.07‑acre lot
- Five bedrooms, two bathrooms, and a basement
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
$31,665
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
5.11%
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%
$633,300
$633.3K
Cap Rate 7%
$452,357
$452.4K
Cap Rate 9%
$351,833
$351.8K
Market Conditions
NOI Build-Up for 1,892 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
$48.4K $25.56/SF
− Vacancy
−$3.1K −$1.65/SF
EGI
$45.2K $23.91/SF
− OpEx
−$13.6K −$7.17/SF
NOI
$31.7K $16.74/SF
Area
Union 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%
$633,300
Cap Rate 7%
$452,357
Cap Rate 9%
$351,833
Alternative Uses
Best Use
Multifamily LT 5
$452.4K
$395.8K – $527.8K
NOI $31,665 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$415.6K
$363.7K – $484.9K
NOI $29,095 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$494.0K
$432.3K – $576.4K
NOI $34,583 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,076
Businesses Nearby
Explore this area
Business Placement
Demographics for 07205, NJ
22,432
Population
7,550
Households
3
Avg Household Size
39
Median Age
29%
College-Educated
87%
High-School Grad
2.8 sq mi
ZIP Area
8,011
Density / Sq Mi
$98,558
Median Household Income
$47,633
Median Earnings
$1,712
Median Rent
$363,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family residential property with separate living spaces, a basement, radiant heating, and multi-unit cooling.
Where is this duplex located?
The property is located at 1216 Broadway Hillside, NJ.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Two‑unit duplex with separate living spaces; 1,892 square feet on a 0.07‑acre lot; Five bedrooms, two bathrooms, and a basement
