Four-Level Duplex
New
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 Market2
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) 694-6500
Source:
Luminancerealty
Added: Sep 11
Last Checked: Sep 11 at 2:37PM
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
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 = 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
$40,635
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
5.09%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
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
Check the figures for this property
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 - 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
