Side-by-Side Duplex with
For Sale
$540,000
21 A and 21B State Route183, Stanhope, NJ 07874
Residential, Duplex, Stanhope Boro, NJ
Property Size1,820 SF
Lot Size0.13 Acres
Price / SF$296.70
Days on Market154
Property Features for 21 A and 21B State Route183
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 1, Laundry Room, Basement, Bedroom 1, Bedroom 4
Parking
3
Patio and Porch features
Porch, Patio
Interior features
Carbon Monoxide Detector, Smoke Detector
Exterior features
Metal Fence, Open Porch(es), Patio, Sidewalk, Storage Shed
Fencing
Fenced
Appliances
Carbon Monoxide Detector, Dryer, Range/Oven-Electric, Refrigerator, Washer
Lot features
Level Lot
High school
LENAPE VLY
Directions
Rt 80 W to exit 27B, Rt 183. House on Right, Turn onto Summit St, turn right onto dirt drive, go to the end. Park behind building off Summit St.
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 in each unit
fenced in shared backyard
rocking chair front porch
cameras on premises
Building Details
Year built
1900
Flooring type
Carpet, Linoleum
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: Sep 1 at 9:06AM
MLS# 4040842
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 1,820-square-foot, two-family side-by-side duplex was built in 1900 and includes two bedrooms, one bathroom, and laundry facilities in each residence. One unit is vacant, while both sides include kitchens with electric ranges and refrigerators. The property also offers forced-air heat, carpeting and linoleum flooring, public water and sewer, a shingle roof, and storage space.
Outdoor features include a rocking-chair porch, patio, fenced shared backyard, metal fencing, sidewalk access, and a storage shed. The property sits one block from Lake Musconetcong, with porch views toward the lake, and is 0.5 miles from the Netcong NJ Transit train station. Main Street destinations in Stanhope and Netcong are nearby, with access to Routes 80, 206, and 46.
Outdoor features include a rocking-chair porch, patio, fenced shared backyard, metal fencing, sidewalk access, and a storage shed. The property sits one block from Lake Musconetcong, with porch views toward the lake, and is 0.5 miles from the Netcong NJ Transit train station. Main Street destinations in Stanhope and Netcong are nearby, with access to Routes 80, 206, and 46.
Key Highlights
- Two‑family side‑by‑side layout with 1,820 square feet
- Each residence includes 2 bedrooms, 1 bathroom, and laundry
- 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer private bedrooms, baths, laundry areas, and access to shared outdoor space.
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‑family side‑by‑side layout with 1,820 square feet; Each residence includes 2 bedrooms, 1 bathroom, and laundry; Unit 21A is vacant and ready for occupancy
