Four-Level Duplex
For Sale
$799,000
171 Burgess Pl, Passaic, NJ 07055
Two residential units feature flexible living areas, separate utilities, and off-street parking.
Property Size2,428 SF
Lot Size0.14 Acres
Price / SF$329.08
Days on Market47
Property Features for 171 Burgess Pl
General Information
Standard status
Active
Size
2,428 SF
Lot size
0.14 Acres
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Year Built
1950
Stories
4
Listing Agency:
HOWARD HANNA RAND REALTY
Listed By:
JOSE PEREZ
(973) 943-3321
Source:
Luminancerealty
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 6 at 12:28AM
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 HOWARD HANNA RAND REALTY
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Investment Insights
Based on property information with market context.
This duplex property contains 2,428 square feet across four levels on a 50-by-125-foot lot. The first-floor residence includes three bedrooms, a living room, formal dining room, and full bathroom, and is currently vacant. The second-floor residence has three bedrooms, an eat-in kitchen, and an oversized family room, with two additional rooms connected on the level above. A finished walkout basement adds usable space, while separate utilities serve the property. The building was constructed in 1950.
A large driveway provides on-site parking. The property is near major highways, shopping, schools, and public transportation, with a short commute to NYC.
A large driveway provides on-site parking. The property is near major highways, shopping, schools, and public transportation, with a short commute to NYC.
Key Highlights
- 2,428‑square‑foot duplex on a 50‑by‑125‑foot lot
- Four levels of living space plus a finished walkout basement
- First‑floor unit is vacant and includes 3 bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,635
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$812,700
$812.7K
Cap Rate 7%
$580,500
$580.5K
Cap Rate 9%
$451,500
$451.5K
Market Conditions
NOI Build-Up for 2,428 SF
Gross rent
$62.1K $25.56/SF
− Vacancy
−$4.0K −$1.65/SF
EGI
$58.1K $23.91/SF
− OpEx
−$17.4K −$7.17/SF
NOI
$40.6K $16.74/SF
Area
Passaic 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%
$812,700
Cap Rate 7%
$580,500
Cap Rate 9%
$451,500
Alternative Uses
Best Use
Multifamily LT 5
$580.5K
$507.9K – $677.3K
NOI $40,635 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$533.4K
$466.7K – $622.3K
NOI $37,338 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$634.0K
$554.8K – $739.7K
NOI $44,380 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,786
Businesses Nearby
Explore this area
Business Placement
Demographics for 07055, NJ
70,518
Population
21,019
Households
3.4
Avg Household Size
32
Median Age
17%
College-Educated
67%
High-School Grad
3.1 sq mi
ZIP Area
22,748
Density / Sq Mi
$56,780
Median Household Income
$30,935
Median Earnings
$1,392
Median Rent
$406,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature flexible living areas, separate utilities, and off-street parking.
Where is this duplex located?
The property is located at 171 Burgess Pl Passaic, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 2,428‑square‑foot duplex on a 50‑by‑125‑foot lot; Four levels of living space plus a finished walkout basement; First‑floor unit is vacant and includes 3 bedrooms
