Building Details

Year Built 1925

Listing Agency: Redfin

Listed By: Scott M Hartman · License #1433837 Show Phone

Source: Soldbypattie

Added: Apr 13 Changed: Oct 3 Last Checked: Oct 16 at 10:34AM

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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.

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 / Yr

$46,706

Cap Rate

8.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$934,120 $934.1K

Cap Rate 7%

$667,229 $667.2K

Cap Rate 9%

$518,956 $519.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,643 SF

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 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 (±1% cap)

NOI $46,706 @ 7.0% cap · market cap 8.49%

Second Best

Apartment 5plus

$576.3K

$504.2K – $672.3K (±1% cap)

NOI $40,339 @ 7.0% cap · market cap 7.33%

Theoretical Best

Warehouse

$850.4K

$744.1K – $992.1K (±1% cap)

NOI $59,525 @ 7.0% cap · market cap 10.82%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Hair Salon Dental Office Nail Salon Building Supply Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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 Ave 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