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Building Details

Year Built 1900

Listing Agency: RE/MAX HERITAGE PROPERTIES

Listed By: JESSICA SOHL · License #1861649 Show Phone

Source: Luminancerealty

Added: Aug 1 Changed: Oct 6 Last Checked: Oct 5 at 11:07PM

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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.

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 / Yr

$30,460

Cap Rate

5.64%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$609,200 $609.2K

Cap Rate 7%

$435,143 $435.1K

Cap Rate 9%

$338,444 $338.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,820 SF

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 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 (±1% cap)

NOI $30,460 @ 7.0% cap · market cap 5.64%

Second Best

Apartment 5plus

$399.8K

$349.9K – $466.5K (±1% cap)

NOI $27,988 @ 7.0% cap · market cap 5.18%

Theoretical Best

Office A

$475.2K

$415.8K – $554.5K (±1% cap)

NOI $33,267 @ 7.0% cap · market cap 6.16%

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 Law Firm Dental Office Spa & Massage Center Pharmacy Bakery (Bike/Boat/Book/etc) Store

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

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

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$899,000

3,873 SF

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4 Waterloo Rd, Stanhope, NJ 07874

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1,290 SF

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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