Duplex With Value-Add
For Sale
$420,000
14-16 Hamilton Street, Allentown, NJ 08501
As-is duplex with two separate layouts on a double lot, offered for potential updates and possible subdivision.
Property Size1,896 SF
Price / SF$221.52
Days on Market72
Property Features for 14-16 Hamilton Street
General Information
Standard status
Active
Size
1,896 SF
Property subtype
Multi-Family / Fee Simple
Zoning
2SF
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,839
Amenities
No
No Pool
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
Keller Williams Premier
(609) 306-9189
Listed By:
Patricia Hogan · License #339824
(609) 306-9189
Source:
Compass
Added: Jun 1
Changed: Aug 10
Last Checked: Aug 10 at 9:23AM
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 Keller Williams Premier
Investment Insights
Based on property information with market context.
This duplex is being sold strictly as-is and is positioned for value-add updates. The property includes two separate units with distinct, functional layouts. Unit 1 offers a 3-bedroom, 1.5-bath configuration spread over two stories with a living room, dining room, kitchen, and attic. Unit 2 features a 1–2 bedroom, 1-bath layout with a living room and kitchen.
The home is located in the heart of Historic Allentown Borough and sits on what is described as an expansive park-like double lot. The listing notes the possibility of subdivision of the double lot, with the buyer to conduct their own due diligence. Buyer responsibility includes obtaining all required certificates.
Allentown, NJ duplex opportunities like this are typically best evaluated with care around condition and any lot-splitting requirements, since the sale terms call for buyer due diligence and the property is not presented with guarantees beyond the described unit configurations. Seller to find suitable housing contingency.
The home is located in the heart of Historic Allentown Borough and sits on what is described as an expansive park-like double lot. The listing notes the possibility of subdivision of the double lot, with the buyer to conduct their own due diligence. Buyer responsibility includes obtaining all required certificates.
Allentown, NJ duplex opportunities like this are typically best evaluated with care around condition and any lot-splitting requirements, since the sale terms call for buyer due diligence and the property is not presented with guarantees beyond the described unit configurations. Seller to find suitable housing contingency.
Key Highlights
- As‑is duplex on an expansive park‑like double lot in Historic Allentown Borough
- Unit 1: 3BR/1.5Bath, 2 stories with LR, DR, kit, and attic
- Unit 2: 1–2BR, 1Bath with LR and kit
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
$31,732
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
7.56%
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%
$634,640
$634.6K
Cap Rate 7%
$453,314
$453.3K
Cap Rate 9%
$352,578
$352.6K
Market Conditions
NOI Build-Up for 1,896 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
$48.5K $25.56/SF
− Vacancy
−$3.1K −$1.65/SF
EGI
$45.3K $23.91/SF
− OpEx
−$13.6K −$7.17/SF
NOI
$31.7K $16.74/SF
Area
Monmouth 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%
$634,640
Cap Rate 7%
$453,314
Cap Rate 9%
$352,578
Alternative Uses
Best Use
Multifamily LT 5
$453.3K
$396.7K – $528.9K
NOI $31,732 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$416.5K
$364.5K – $486.0K
NOI $29,157 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$495.1K
$433.2K – $577.6K
NOI $34,656 @ 7.0% cap · market cap 8.25%
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
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 08501, NJ
6,574
Population
2,495
Households
2.6
Avg Household Size
46
Median Age
60%
College-Educated
96%
High-School Grad
27.2 sq mi
ZIP Area
242
Density / Sq Mi
$133,015
Median Household Income
$71,700
Median Earnings
$1,457
Median Rent
$530,100
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 - As-is duplex with two separate layouts on a double lot, offered for potential updates and possible subdivision.
Where is this duplex located?
The property is located at 14-16 Hamilton Street Allentown, NJ.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: As‑is duplex on an expansive park‑like double lot in Historic Allentown Borough; Unit 1: 3BR/1.5Bath, 2 stories with LR, DR, kit, and attic; Unit 2: 1–2BR, 1Bath with LR and kit
