Remodeled Duplex Near
For Sale
$999,999
Pending
17 AIKEN AVENUE, Princeton, NJ 08540
SINGLE_FAMILY - PRINCETON, NJ
Property Size2,337 SF
Days on Market157
Property Features for 17 AIKEN AVENUE
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1, Bedroom 3, Bedroom 2
Subdivision
NONE AVAILABLE
Elementary school
RIVERSIDE E.S.
Middle school
JOHN WITHERSPOON M.S.
High school
PRINCETON H.S.
Standard status
Pending
Size
2,337 SF
Amenities
Central AC and Heating
Newer Pella Windows
Freshly Painted Siding
First floor laundry
large basement
front porch with swing
new back steps
delightful back yard
Newer sewer line
Building Details
Year built
1910
Listing Agency:
BHHS Fox & Roach Princeton Home Marketing Center · Berkshire Hathaway HomeServices
(609) 924-1600
Listed By:
Yuen Li "Ivy" Huang · License #0234160
(609) 933-9988
Added: Mar 5
Changed: Aug 4
Last Checked: Aug 9 at 10:06PM
MLS# NJME2073052
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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 2,337-square-foot duplex, built in 1910, has undergone substantial updates while retaining a practical residential layout. Improvements include a bright kitchen with new cabinetry, granite countertops, and stainless steel appliances, along with open living and dining areas, three bedrooms, an office, one and a half baths, and a finished attic bonus area. A first-floor laundry room and large basement add functional storage and utility space.
The property includes a front porch with a swing, new rear steps, and a backyard. Central AC and heating, newer Pella windows, a newer sewer line, and freshly painted siding are also in place. Its address at 17 Aiken Avenue places the property one block from Nassau Street and downtown Princeton.
The property includes a front porch with a swing, new rear steps, and a backyard. Central AC and heating, newer Pella windows, a newer sewer line, and freshly painted siding are also in place. Its address at 17 Aiken Avenue places the property one block from Nassau Street and downtown Princeton.
Key Highlights
- 2,337‑square‑foot duplex at 17 Aiken Avenue
- Built in 1910 with substantial remodeling and updated finishes
- Three bedrooms, an office, and one and a half baths
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
$41,298
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
4.13%
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%
$825,960
$826.0K
Cap Rate 7%
$589,971
$590.0K
Cap Rate 9%
$458,867
$458.9K
Market Conditions
NOI Build-Up for 2,337 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
$63.1K $27.00/SF
− Vacancy
−$4.1K −$1.76/SF
EGI
$59.0K $25.25/SF
− OpEx
−$17.7K −$7.57/SF
NOI
$41.3K $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%
$825,960
Cap Rate 7%
$589,971
Cap Rate 9%
$458,867
Alternative Uses
Best Use
Multifamily LT 5
$590.0K
$516.2K – $688.3K
NOI $41,298 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$509.5K
$445.9K – $594.5K
NOI $35,668 @ 7.0% cap · market cap 3.57%
Theoretical Best
Warehouse
$751.9K
$657.9K – $877.2K
NOI $52,633 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,504
Businesses Nearby
Explore this area
Business Placement
Demographics for 08540, NJ
48,216
Population
19,255
Households
2.5
Avg Household Size
41
Median Age
82%
College-Educated
98%
High-School Grad
51.7 sq mi
ZIP Area
933
Density / Sq Mi
$169,898
Median Household Income
$80,357
Median Earnings
$2,083
Median Rent
$723,400
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 - Updated duplex with bright kitchen, finished attic, basement storage, and outdoor spaces near downtown Princeton.
Where is this duplex located?
The property is located at 17 AIKEN AVENUE Princeton, NJ.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: 2,337‑square‑foot duplex at 17 Aiken Avenue; Built in 1910 with substantial remodeling and updated finishes; Three bedrooms, an office, and one and a half baths
