Two-Unit Duplex with Private
New
For Sale
$825,000
16 Lincoln St, Morristown, NJ 07960
Multi-Family, 2-Two Story, Morristown Town, NJ
Property Size1,928 SF
Lot Size0.15 Acres
Price / SF$427.90
Days on Market6
Property Features for 16 Lincoln St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2
Parking
2
Patio and Porch features
Deck
Exterior features
Deck, Storage Shed
Directions
Off to Lincoln Street
Standard status
Active
Size
1,928 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10297
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Amenities
in-unit laundry
private deck
backyard
storage shed
covered patio
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
RE/MAX SELECT · RE/MAX International
(973) 539-6300
Listed By:
NICHOLAS WALSH · License #405956
(908) 233-9292
Added: Oct 1
Last Checked: Oct 6 at 7:06PM
MLS# 4056221
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,928-square-foot duplex, built in 1928, contains two separate residences, each with two bedrooms, one full bath, and in-unit laundry. One unit has an eat-in kitchen; the other includes stainless steel appliances, an open living and dining area, and a private deck. The property also has a shared level backyard, a storage shed, a covered patio, and a shared driveway for off-street parking.
Set on a 0.15-acre lot at 16 Lincoln St in Morristown, the property is about half a mile from the Morristown train station on NJ Transit’s Morris & Essex Lines. Downtown shops, restaurants, parks, and major commuter routes are also accessible from the property.
Set on a 0.15-acre lot at 16 Lincoln St in Morristown, the property is about half a mile from the Morristown train station on NJ Transit’s Morris & Essex Lines. Downtown shops, restaurants, parks, and major commuter routes are also accessible from the property.
Key Highlights
- Two residences, each with 2 bedrooms, 1 full bath, and in‑unit laundry
- 1,928 square feet; built in 1928
- 0.15‑acre lot with a shared backyard, covered patio, and storage shed
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.
Property Analytics
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Current Use
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
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences include two bedrooms, one full bath, and in-unit laundry; one also has a private deck.
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; built in 1928; 0.15‑acre lot with a shared backyard, covered patio, and storage shed
