Two-Unit Duplex with Private
For Sale
$825,000
16 Lincoln St, Morristown, NJ 07960
Each residence has two bedrooms, a full bath, and in-unit laundry, with shared outdoor space and off-street parking.
Property Size1,928 SF
Price / SF$427.90
Days on Market26
Property Features for 16 Lincoln St
General Information
Standard status
Active
Size
1,928 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Net Operating Income
$51,611
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
Deck
Storage Shed
Building Details
Building Size
1,928 SF
Year Built
1928
Buildings
1
Units
2
Listing Agency:
Re/Max Select
(973) 539-6300
Listed By:
Nicholas Walsh · License #405956
(908) 233-9292
Source:
Culturaunitedrealty
Added: Oct 1
Changed: Oct 26
Last Checked: Oct 26 at 3:43AM
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 Re/Max Select
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Investment Insights
Based on property information with market context.
At 16 Lincoln Street, this 1,928-square-foot duplex contains two separate residences, each with two bedrooms, one full bath, and in-unit laundry. Wood-look plank flooring runs through the living areas. One apartment has an eat-in kitchen; the other combines its living and dining areas and opens to a private deck. A level backyard, storage shed, covered patio, and shared one-car-width driveway serve both units.
The property is in Morristown, about half a mile from the Morristown train station on NJ Transit’s Morris & Essex Lines. Downtown shops, restaurants, and parks, as well as major commuter routes, are accessible from the property. Built in 1928, the duplex offers two distinct residences with separate interior layouts and shared exterior amenities.
The property is in Morristown, about half a mile from the Morristown train station on NJ Transit’s Morris & Essex Lines. Downtown shops, restaurants, and parks, as well as major commuter routes, are accessible from the property. Built in 1928, the duplex offers two distinct residences with separate interior layouts and shared exterior amenities.
Key Highlights
- Two residences, each with 2 bedrooms, 1 full bath, and in‑unit laundry
- 1,928 square feet total
- One unit includes a private deck overlooking the yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,267
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,340
$645.3K
Cap Rate 7%
$460,957
$461.0K
Cap Rate 9%
$358,522
$358.5K
Market Conditions
NOI Build-Up for 1,928 SF
Gross rent
$49.3K $25.56/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$46.1K $23.91/SF
− OpEx
−$13.8K −$7.17/SF
NOI
$32.3K $16.74/SF
Area
Morris 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 Rate 5%
$645,340
Cap Rate 7%
$460,957
Cap Rate 9%
$358,522
Alternative Uses
Best Use
Multifamily LT 5
$461.0K
$403.3K – $537.8K
NOI $32,267 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$423.6K
$370.6K – $494.2K
NOI $29,649 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$503.4K
$440.5K – $587.4K
NOI $35,241 @ 7.0% cap · market cap 4.27%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,095
Businesses Nearby
Explore this area
Business Placement
Demographics for 07960, NJ
45,609
Population
18,978
Households
2.4
Avg Household Size
40
Median Age
68%
College-Educated
94%
High-School Grad
34.6 sq mi
ZIP Area
1,318
Density / Sq Mi
$149,462
Median Household Income
$75,266
Median Earnings
$2,173
Median Rent
$701,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, a full bath, and in-unit laundry, with shared outdoor space and off-street parking.
Where is this duplex located?
The property is located at 16 Lincoln St Morristown, NJ.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms, 1 full bath, and in‑unit laundry; 1,928 square feet total; One unit includes a private deck overlooking the yard
