Two-Unit Residential
For Sale
$540,000
21 A and 21B State Route183, Stanhope, NJ 07874
Multi-Family, Duplex-Side by Side, Stanhope Boro, NJ
Property Size1,820 SF
Lot Size0.13 Acres
Price / SF$296.70
Days on Market145
Property Features for 21 A and 21B State Route183
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 1, Basement
Parking
3
Patio and Porch features
Patio, Porch
Interior features
Carbon Monoxide Detector, Carpeting, Fire Extinguisher, Smoke Detector, Vinyl-Linoleum Floors
Exterior features
Metal Fence, Open Porch(es), Patio, Sidewalk, Storage Shed
Fencing
Fenced
Lot features
Level Lot
High school
LENAPE VLY
Directions
Rt 80 W to exit 27B, Rt 183. House on Right, Driveway on Right off of Summit St, go all the way to the end.
Standard status
Active
Size
1,820 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7670
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Water source
Public
Amenities
laundry
fenced shared backyard
rocking chair front porch
cameras on premises
Building Details
Year built
1900
Number of units
2
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
RE/MAX HERITAGE PROPERTIES · RE/MAX International
(973) 598-1700
Listed By:
JESSICA SOHL · License #1861649
(973) 598-1700
Added: Apr 1
Changed: Aug 19
Last Checked: Aug 23 at 1:06PM
MLS# 4018018
Copyright © 2026 Garden State MLS, LLC. 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 two-unit residential duplex offers a built-in rental setup alongside the option of owner-occupying one unit. Each unit includes two bedrooms, one bathroom, and laundry in-unit. Interior features include carpeting, vinyl-linoleum floors, and safety items such as smoke detectors and a fire extinguisher. The home is heated with forced air.
Outdoor amenities include a rocking chair front porch, open porches, a patio, a metal fence with a fenced shared backyard, and a storage shed. Off-street parking is available, and there are sidewalks on the property. Unit 21A is vacant and ready for occupancy.
The duplex is on a 0.13-acre lot and was built in 1900. Public water and public sewer are available, and the roof is shingle. A carbon monoxide detector and additional safety equipment are present, and cameras are on the premises for added security. Cable is available.
Outdoor amenities include a rocking chair front porch, open porches, a patio, a metal fence with a fenced shared backyard, and a storage shed. Off-street parking is available, and there are sidewalks on the property. Unit 21A is vacant and ready for occupancy.
The duplex is on a 0.13-acre lot and was built in 1900. Public water and public sewer are available, and the roof is shingle. A carbon monoxide detector and additional safety equipment are present, and cameras are on the premises for added security. Cable is available.
Key Highlights
- Two‑unit duplex with two‑bedroom, one‑bath layouts and laundry in each unit
- Unit 21A is vacant and ready for occupancy
- Forced‑air heating plus safety items including smoke detectors and a fire extinguisher
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
$30,460
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
5.64%
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%
$609,200
$609.2K
Cap Rate 7%
$435,143
$435.1K
Cap Rate 9%
$338,444
$338.4K
Market Conditions
NOI Build-Up for 1,820 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
$46.5K $25.56/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$43.5K $23.91/SF
− OpEx
−$13.1K −$7.17/SF
NOI
$30.5K $16.74/SF
Area
Sussex 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%
$609,200
Cap Rate 7%
$435,143
Cap Rate 9%
$338,444
Alternative Uses
Best Use
Multifamily LT 5
$435.1K
$380.8K – $507.7K
NOI $30,460 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$399.8K
$349.9K – $466.5K
NOI $27,988 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$475.2K
$415.8K – $554.5K
NOI $33,267 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 07874, NJ
8,639
Population
3,325
Households
2.6
Avg Household Size
43
Median Age
39%
College-Educated
95%
High-School Grad
8.5 sq mi
ZIP Area
1,016
Density / Sq Mi
$125,517
Median Household Income
$59,407
Median Earnings
$1,735
Median Rent
$336,000
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 - Two-unit duplex with separate 2-bedroom, 1-bath layouts, laundry in each unit, and off-street parking.
Where is this duplex located?
The property is located at 21 A and 21B State Route183 Stanhope, NJ.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Two‑unit duplex with two‑bedroom, one‑bath layouts and laundry in each unit; Unit 21A is vacant and ready for occupancy; Forced‑air heating plus safety items including smoke detectors and a fire extinguisher
