Duplex With In-Unit
For Sale
$540,000
21 A And 21b State Route183, Stanhope, NJ 07874
Two residential units provide individual laundry, off-street parking, and access to a shared fenced backyard.
Property Size1,820 SF
Price / SF$296.70
Days on Market31
Property Features for 21 A And 21b State Route183
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry in each unit
fenced in shared backyard
rocking chair front porch
cameras on premises
Building Details
Year Built
1900
Listing Agency:
RE/MAX HERITAGE PROPERTIES
(973) 598-1700
Listed By:
JESSICA SOHL · License #1861649
Source:
Luminancerealty
Added: Aug 1
Changed: Aug 29
Last Checked: Aug 30 at 6:59PM
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 RE/MAX HERITAGE PROPERTIES
Investment Insights
Based on property information with market context.
This two-unit duplex contains approximately 1,820 square feet and was built in 1900. Each residence includes two bedrooms, one bathroom, and laundry facilities. Unit 21A is vacant, providing immediate occupancy for an owner occupant or flexibility for a new leasing plan. Exterior features include off-street parking, a shared fenced backyard, and a covered front porch. Cameras are present on the premises.
The property is located one block from Lake Musconetcong and 0.5 miles from the Netcong NJ Transit train station. Stanhope's Main Street and Netcong's Main Street are both nearby, with restaurants, grocery shopping, and entertainment in the surrounding area. Route 80, Route 206, and Route 46 provide regional road access.
The property is located one block from Lake Musconetcong and 0.5 miles from the Netcong NJ Transit train station. Stanhope's Main Street and Netcong's Main Street are both nearby, with restaurants, grocery shopping, and entertainment in the surrounding area. Route 80, Route 206, and Route 46 provide regional road access.
Key Highlights
- Two‑unit duplex with 2 beds, 1 bath, and laundry in each unit
- Approximately 1,820 square feet; built in 1900
- Unit 21A is vacant and ready for occupancy
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 residential units provide individual laundry, off-street parking, and access to a shared fenced backyard.
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 2 beds, 1 bath, and laundry in each unit; Approximately 1,820 square feet; built in 1900; Unit 21A is vacant and ready for occupancy
