Two-Unit Corner-Lot
For Sale
$255,000
Pending
151 BROWN STREET, Trenton, NJ 08610
Two one-bedroom units provide separate living areas, kitchens, bedrooms, and full bathrooms.
Property Size1,338 SF
Days on Market18
Property Features for 151 BROWN STREET
General Information
Standard status
Pending
Size
1,338 SF
Property subtype
Duplex
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1911
Buildings
1
Listing Agency:
Keller Williams Premier
(609) 459-5100
Listed By:
Sarah Watson · License #2079208
(609) 480-0101
Source:
Cummingsrealtors
Added: Aug 19
Changed: Sep 4
Last Checked: Sep 5 at 7:35AM
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 contains 1,338 square feet arranged as two distinct one-bedroom residences. Each unit includes a living area, kitchen, bedroom, and full bathroom, giving both occupants a separate residential layout within the same building. The property was built in 1911 and has been maintained for continued use.
Set on a corner lot at 151 Brown Street in Trenton, the property includes additional outdoor space. Shopping, dining, transportation, schools, and major roadways are located nearby, placing everyday services and regional access within the surrounding area.
Set on a corner lot at 151 Brown Street in Trenton, the property includes additional outdoor space. Shopping, dining, transportation, schools, and major roadways are located nearby, placing everyday services and regional access within the surrounding area.
Key Highlights
- Two separate one‑bedroom units
- Each unit includes a living area, kitchen, bedroom, and full bathroom
- 1,338 square feet arranged as a two‑unit duplex
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
$20,421
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
8.01%
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%
$408,420
$408.4K
Cap Rate 7%
$291,729
$291.7K
Cap Rate 9%
$226,900
$226.9K
Market Conditions
NOI Build-Up for 1,338 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
$40.1K $30.00/SF
− Vacancy
−$3.0K −$2.25/SF
EGI
$37.1K $27.75/SF
− OpEx
−$16.7K −$12.49/SF
NOI
$20.4K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$408,420
Cap Rate 7%
$291,729
Cap Rate 9%
$226,900
Alternative Uses
Best Use
Multifamily LT 5
$337.8K
$295.6K – $394.1K
NOI $23,644 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$291.7K
$255.3K – $340.4K
NOI $20,421 @ 7.0% cap · market cap 8.01%
Theoretical Best
Warehouse
$430.5K
$376.7K – $502.2K
NOI $30,134 @ 7.0% cap · market cap 11.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,090
Businesses Nearby
Explore this area
Business Placement
Demographics for 08610, NJ
32,649
Population
12,363
Households
2.6
Avg Household Size
38
Median Age
25%
College-Educated
89%
High-School Grad
7.4 sq mi
ZIP Area
4,412
Density / Sq Mi
$87,159
Median Household Income
$43,990
Median Earnings
$1,491
Median Rent
$248,900
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 one-bedroom units provide separate living areas, kitchens, bedrooms, and full bathrooms.
Where is this duplex located?
The property is located at 151 BROWN STREET Trenton, NJ.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two separate one‑bedroom units; Each unit includes a living area, kitchen, bedroom, and full bathroom; 1,338 square feet arranged as a two‑unit duplex
