Leased Duplex With
For Sale
$550,000
16 Volusia Avenue, Hamilton, NJ 08610
Two separately metered residences offer varied layouts, basement storage, and attached parking in Hamilton Township.
Property Size2,643 SF
Price / SF$208.10
Days on Market142
Property Features for 16 Volusia Avenue
General Information
Standard status
Active
Size
2,643 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
RES
Taxes and HOA fees
Annual Taxes
$9,766
Amenities
No
Has Laundry
No Pool
Building Details
Year Built
1925
Listing Agency:
Redfin
(609) 947-5520
Listed By:
Scott M Hartman · License #1433837
(609) 947-5520
Source:
Compass
Added: Apr 13
Changed: Aug 31
Last Checked: Aug 31 at 12:07AM
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 Redfin
Investment Insights
Based on property information with market context.
This duplex, built in 1925, contains two leased residences with separate utilities. Unit 1 includes four bedrooms, one full bathroom, and access to an unfinished basement for storage. Unit 2 provides two bedrooms, one and a half bathrooms, and a two-car garage. The property contains 2,643 square feet and is zoned RES.
Both leases extend through September 30, 2026, and the property is fully rented. The address is in Hamilton Township, within the Hamilton Township School District and Mercer County. Separate utility arrangements support distinct occupancy for each residence, while the differing layouts provide flexibility across the two-unit configuration.
Both leases extend through September 30, 2026, and the property is fully rented. The address is in Hamilton Township, within the Hamilton Township School District and Mercer County. Separate utility arrangements support distinct occupancy for each residence, while the differing layouts provide flexibility across the two-unit configuration.
Key Highlights
- Two‑unit property with both residences leased through September 30, 2026
- 2,643‑square‑foot duplex built in 1925
- Unit 1 includes 4 bedrooms, 1 full bathroom, and an unfinished basement
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
$46,706
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
8.49%
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%
$934,120
$934.1K
Cap Rate 7%
$667,229
$667.2K
Cap Rate 9%
$518,956
$519.0K
Market Conditions
NOI Build-Up for 2,643 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
$71.4K $27.00/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$66.7K $25.25/SF
− OpEx
−$20.0K −$7.57/SF
NOI
$46.7K $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 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%
$934,120
Cap Rate 7%
$667,229
Cap Rate 9%
$518,956
Alternative Uses
Best Use
Multifamily LT 5
$667.2K
$583.8K – $778.4K
NOI $46,706 @ 7.0% cap · market cap 8.49%
Second Best
Apartment 5plus
$576.3K
$504.2K – $672.3K
NOI $40,339 @ 7.0% cap · market cap 7.33%
Theoretical Best
Warehouse
$850.4K
$744.1K – $992.1K
NOI $59,525 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
342
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 separately metered residences offer varied layouts, basement storage, and attached parking in Hamilton Township.
Where is this duplex located?
The property is located at 16 Volusia Avenue Hamilton, NJ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑unit property with both residences leased through September 30, 2026; 2,643‑square‑foot duplex built in 1925; Unit 1 includes 4 bedrooms, 1 full bathroom, and an unfinished basement
