Duplex with Separate
New
For Sale
$399,000
16 Lanning St, Ewing, NJ 08618
Two apartments offer a two-bedroom layout downstairs and a one-bedroom residence upstairs, with a full basement for laundry and storage.
Property Size1,450 SF
Days on Market2
Property Features for 16 Lanning St
General Information
Standard status
Active
Size
1,450 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,425
Building Details
Building Size
1,450 SF
Year Built
1955
Stories
2
Listing Agency:
Orange Key Realty
Listed By:
MICHAEL MATTHEWS
(732) 742-2570
Source:
Elliman
Added: Oct 30
Last Checked: Oct 30 at 3:26PM
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 Orange Key Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1955 duplex contains two apartments: a main-level unit with two bedrooms and one full bathroom, and an upstairs unit with one bedroom and one full bathroom. Separate gas and electric meters serve the residences. A full basement provides laundry provisions and storage, while the large backyard and driveway add outdoor space and off-street parking for multiple vehicles. The property is being offered as-is.
The home is near The College of New Jersey, with local dining, transit, and shopping also noted nearby. The address is 16 Lanning St in Ewing, New Jersey. Walk Score is 60 and Bike Score is 46.
The home is near The College of New Jersey, with local dining, transit, and shopping also noted nearby. The address is 16 Lanning St in Ewing, New Jersey. Walk Score is 60 and Bike Score is 46.
Key Highlights
- Two apartments: a two‑bedroom, one‑bath unit and a one‑bedroom, one‑bath unit
- Separate gas and electric meters
- Full basement with laundry provisions and storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,624
Cap Rate
6.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$512,480
$512.5K
Cap Rate 7%
$366,057
$366.1K
Cap Rate 9%
$284,711
$284.7K
Market Conditions
NOI Build-Up for 1,450 SF
Gross rent
$39.2K $27.00/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$36.6K $25.25/SF
− OpEx
−$11.0K −$7.57/SF
NOI
$25.6K $17.67/SF
Area
Mercer County, NJ
Vacancy
6.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$512,480
Cap Rate 7%
$366,057
Cap Rate 9%
$284,711
Alternative Uses
Best Use
Multifamily LT 5
$366.1K
$320.3K – $427.1K
NOI $25,624 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$316.2K
$276.6K – $368.9K
NOI $22,131 @ 7.0% cap · market cap 5.55%
Theoretical Best
Warehouse
$466.5K
$408.2K – $544.3K
NOI $32,656 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 08618, NJ
37,544
Population
15,284
Households
2.5
Avg Household Size
34
Median Age
24%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
6,363
Density / Sq Mi
$48,179
Median Household Income
$33,040
Median Earnings
$1,117
Median Rent
$211,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two apartments offer a two-bedroom layout downstairs and a one-bedroom residence upstairs, with a full basement for laundry and storage.
Where is this duplex located?
The property is located at 16 Lanning St Ewing, NJ.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two apartments: a two‑bedroom, one‑bath unit and a one‑bedroom, one‑bath unit; Separate gas and electric meters; Full basement with laundry provisions and storage space
