Building Details

Year Built 1897

Buildings 1

Listing Agency: Realty Mark Central,LLC

Listed By: Arkadiy Isakov · License #1969794 Show Phone

Source: Actionplusrealty

Added: Aug 25 Changed: Oct 15 Last Checked: Oct 14 at 11:12PM

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Investment Insights

Based on property information with market context.

This two-family duplex contains 1,628 square feet and was built in 1897. Both units have received updates that include refinished hardwood flooring, new paint, replacement windows, and full kitchens with gas ranges and stainless steel appliances. The property is offered as-is, with no seller repairs or municipal certifications provided.

The buyer is responsible for inspections, certificate of occupancy, smoke certification, and any municipal repairs required for the property. The address is 174 W Hanover Street in Trenton, New Jersey.

Key Highlights

• Two‑family duplex with 1,628 square feet
• Both units feature refinished hardwood floors and fresh paint
• Replacement windows installed throughout the property

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,769

Cap Rate

8.88%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$575,380 $575.4K

Cap Rate 7%

$410,986 $411.0K

Cap Rate 9%

$319,656 $319.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,628 SF

Gross rent

$44.0K $27.00/SF

− Vacancy

−$2.9K −$1.76/SF

EGI

$41.1K $25.25/SF

− OpEx

−$12.3K −$7.57/SF

NOI

$28.8K $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%

$575,380

Cap Rate 7%

$410,986

Cap Rate 9%

$319,656

Alternative Uses

Best Use

Multifamily LT 5

$411.0K

$359.6K – $479.5K (±1% cap)

NOI $28,769 @ 7.0% cap · market cap 8.88%

Second Best

Apartment 5plus

$355.0K

$310.6K – $414.1K (±1% cap)

NOI $24,847 @ 7.0% cap · market cap 7.67%

Theoretical Best

Warehouse

$523.8K

$458.3K – $611.1K (±1% cap)

NOI $36,665 @ 7.0% cap · market cap 11.32%

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 Locksmith (Bike/Boat/Book/etc) Store Butcher Home Appliance Store Garden Center Tanning Salon

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

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

2,293

Businesses Nearby

Explore this area Business Placement

Demographics for 08618, NJ

37,544

Population

15,284

Households

2.5

Avg Household Size

34

Median Age

24%

College-Educated

86%

High-School Grad

5.9 sq mi

ZIP Area

6,363

Density / Sq Mi

$48,179

Median Household Income

$33,040

Median Earnings

$1,117

Median Rent

$211,800

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 residential units feature refinished hardwood floors, fresh paint, replacement windows, and kitchens equipped with gas ranges and stainless steel appliances.

Where is this duplex located?

The property is located at 174 W Hanover Street Trenton, NJ.

What is the asking price?

The asking price for this property is $323,888.

What are key features of this property?

This property features: Two‑family duplex with 1,628 square feet; Both units feature refinished hardwood floors and fresh paint; Replacement windows installed throughout the property