Two-Family Income
For Sale
$749,990
Pending
133 Mount Prospect Ave, Belleville, NJ 07109
Two units with separate entrances, exclusive rear driveway and parking, and finished basement space ready for immediate occupancy.
Property Size3,700 SF
Days on Market80
Property Features for 133 Mount Prospect Ave
General Information
Standard status
Pending
Size
3,700 SF
Property subtype
Residential Income
Zoning
R-A1
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$19,384
Amenities
Ceiling Fan(s)
Baseboard, Natural Gas
Finished, Full, Walk-Out Access
Gas Water Heater
Walk-In Closet(s)
Off Street
3-Three Story
Building Details
Building Size
3,700 SF
Year Built
1917
Stories
3
Tenancy
Multi
Listing Agency:
eXp Realty, LLC
(908) 209-1651
Listed By:
PAWEL TOMCZYK
(908) 209-1651
Source:
Evrealestate
Added: Jun 9
Changed: Aug 23
Last Checked: Aug 23 at 8:38AM
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 spacious two-family duplex offers four finished levels, each served by separate entrances, creating a clear layout for long-term residential rental ownership. The first-floor unit includes a living room and dining room, an eat-in kitchen, two large bedrooms, and a full bath. The second-floor unit features a living room, dining room, an eat-in kitchen, two generously sized bedrooms, and two full baths, along with a back porch. A finished walkout basement adds additional flexibility with a full bath, multiple rooms, a dedicated laundry room, and a sump pump. The third finished level includes two bedrooms, expanding the usable living area within the property.
The home is set on a quiet street with an exclusive driveway and parking located in back. The property’s setting also places nearby transit options within walking distance, including local bus service at Union Ave and Holmes St and NJ Transit bus service at Union Ave and Belleville Ave. Restaurants are also within walking distance on Washington and Belleville Ave.
With separate entrances for each unit, this duplex may suit investors or owner-occupants looking for independent living arrangements while keeping the building under one roof. The property is reported as ready for immediate occupancy and includes notes of a completed property tax appeal effective for 1/1/27, along with eligibility information for a financing program referenced in the listing materials.
The home is set on a quiet street with an exclusive driveway and parking located in back. The property’s setting also places nearby transit options within walking distance, including local bus service at Union Ave and Holmes St and NJ Transit bus service at Union Ave and Belleville Ave. Restaurants are also within walking distance on Washington and Belleville Ave.
With separate entrances for each unit, this duplex may suit investors or owner-occupants looking for independent living arrangements while keeping the building under one roof. The property is reported as ready for immediate occupancy and includes notes of a completed property tax appeal effective for 1/1/27, along with eligibility information for a financing program referenced in the listing materials.
Key Highlights
- Belleville 2‑family built in 1917 with 4 finished levels and separate entrances for each unit
- Total size 3,700 SF plus finished basement with a full bath, multiple rooms, laundry room, and sump pump
- Unit 1: large living room and dining room, eat‑in kitchen, 2 bedrooms (350 SF & 200 SF), and a full bath
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
$61,924
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
8.26%
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%
$1,238,480
$1.2M
Cap Rate 7%
$884,629
$884.6K
Cap Rate 9%
$688,044
$688.0K
Market Conditions
NOI Build-Up for 3,700 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
$94.6K $25.56/SF
− Vacancy
−$6.1K −$1.65/SF
EGI
$88.5K $23.91/SF
− OpEx
−$26.5K −$7.17/SF
NOI
$61.9K $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%
$1,238,480
Cap Rate 7%
$884,629
Cap Rate 9%
$688,044
Alternative Uses
Best Use
Multifamily LT 5
$884.6K
$774.1K – $1.03M
NOI $61,924 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$812.8K
$711.2K – $948.3K
NOI $56,899 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$966.1K
$845.4K – $1.13M
NOI $67,630 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,130
Businesses Nearby
Explore this area
Business Placement
Demographics for 07109, NJ
38,078
Population
15,045
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
3.3 sq mi
ZIP Area
11,539
Density / Sq Mi
$90,164
Median Household Income
$47,446
Median Earnings
$1,596
Median Rent
$405,500
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 units with separate entrances, exclusive rear driveway and parking, and finished basement space ready for immediate occupancy.
Where is this duplex located?
The property is located at 133 Mount Prospect Ave Belleville, NJ.
What is the asking price?
The asking price for this property is $749,990.
What are key features of this property?
This property features: Belleville 2‑family built in 1917 with 4 finished levels and separate entrances for each unit; Total size 3,700 SF plus finished basement with a full bath, multiple rooms, laundry room, and sump pump; Unit 1: large living room and dining room, eat‑in kitchen, 2 bedrooms (350 SF & 200 SF), and a full bath
