Duplex with Two-Story
For Sale
$599,000
218 MORRISON Avenue, Hightstown, NJ 08520
Multi-Family, HIGHTSTOWN, NJ
Property Size2,624 SF
Lot Size0.28 Acres
Price / SF$228.28
Days on Market9
Property Features for 218 MORRISON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
8
Parking features
Driveway, Garage - Detached
Interior features
Ceiling Fan(s)
Appliances
Dryer - Electric
Elementary school district
EAST WINDSOR REGIONAL SCHOOLS
Middle school district
EAST WINDSOR REGIONAL SCHOOLS
High school district
EAST WINDSOR REGIONAL SCHOOLS
Standard status
Active
Size
2,624 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Annual Amount
11096
Utilities
Heating system
Other (Heating)
Cooling system
Ceiling Fan(s)
Amenities
wraparound porch
barn
Building Details
Year built
1830
Number of units
2
Building materials
Frame
Architectural style
Victorian
Listing Agency:
HomeZu by Simple Choice
(855) 885-4663
Listed By:
Christopher J Carr · License #0338555
(610) 326-2414
Added: Sep 29
Last Checked: Oct 7 at 4:06AM
MLS# NJME2084380
Copyright © 2026 Bright MLS. 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 2,624-square-foot Victorian duplex, built in 1830, contains two distinct residences: a one-bedroom, one-bath apartment and a three-bedroom home with 1.5 baths. A wraparound porch and a two-story barn add to the property’s physical features. The parcel spans 0.2761 acres and also includes a detached garage and driveway.
The property is a short walk from downtown Hightstown, with shopping, restaurants, major highways, and Princeton identified as nearby destinations. It is located in Mercer County, New Jersey.
The property is a short walk from downtown Hightstown, with shopping, restaurants, major highways, and Princeton identified as nearby destinations. It is located in Mercer County, New Jersey.
Key Highlights
- Two residences: a 1‑bedroom, 1‑bath apartment and a 3‑bedroom home with 1 1/2 baths
- 2,624 square feet on a 0.2761‑acre parcel
- Two‑story barn and wraparound porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,370
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$927,400
$927.4K
Cap Rate 7%
$662,429
$662.4K
Cap Rate 9%
$515,222
$515.2K
Market Conditions
NOI Build-Up for 2,624 SF
Gross rent
$70.8K $27.00/SF
− Vacancy
−$4.6K −$1.76/SF
EGI
$66.2K $25.25/SF
− OpEx
−$19.9K −$7.57/SF
NOI
$46.4K $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%
$927,400
Cap Rate 7%
$662,429
Cap Rate 9%
$515,222
Alternative Uses
Best Use
Multifamily LT 5
$662.4K
$579.6K – $772.8K
NOI $46,370 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$572.1K
$500.6K – $667.5K
NOI $40,049 @ 7.0% cap · market cap 6.69%
Theoretical Best
Warehouse
$844.2K
$738.7K – $985.0K
NOI $59,097 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
841
Businesses Nearby
Explore this area
Business Placement
Demographics for 08520, NJ
29,291
Population
11,271
Households
2.6
Avg Household Size
40
Median Age
46%
College-Educated
92%
High-School Grad
18.0 sq mi
ZIP Area
1,627
Density / Sq Mi
$116,282
Median Household Income
$52,890
Median Earnings
$1,556
Median Rent
$361,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - A one-bedroom apartment and three-bedroom home sit alongside a detached garage and driveway.
Where is this duplex located?
The property is located at 218 MORRISON Avenue Hightstown, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two residences: a 1‑bedroom, 1‑bath apartment and a 3‑bedroom home with 1 1/2 baths; 2,624 square feet on a 0.2761‑acre parcel; Two‑story barn and wraparound porch
