Three-Bedroom
For Sale
$289,999
24 Newkirk Avenue, Hamilton, NJ 08629
Residential, Duplex, Hamilton, NJ
Property Size1,240 SF
Lot Size0.04 Acres
Price / SF$233.87
Days on Market165
Property Features for 24 Newkirk Avenue
General Information
Property type
Residential
Property subtype
Duplex
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Basement
Patio and Porch features
Porch
Interior features
Attic - Walk Up
Basement
Partially Finished
Directions
Head east on E State St toward S Broad St. Turn left onto S Broad St (US-206 N). Continue on S Broad St and then turn right onto Arena Dr. At the traffic circle, take the 2nd exit to stay on Arena Dr. Continue straight onto Olden Ave. Turn right onto Newkirk Ave. Follow Newkirk Ave until you reach 24 Newkirk Ave -- the home will be on your right.
Standard status
Active
APN
03-02023-0000-00048
Size
1,240 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3567
Utilities
Heating system
Natural Gas
Cooling system
Electric
Water source
Public
Building Details
Year built
1935
Floors in Building
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
Goldstone Realty
Listed By:
Mayra Cruz
(732) 898-3400
Added: Mar 22
Changed: Sep 1
Last Checked: Sep 2 at 6:06PM
MLS# 22607492
Copyright © 2026 More 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 1,240-square-foot duplex, built in 1935, offers a two-level layout with living and dining areas, an eat-in kitchen, three bedrooms, and one full bathroom. The basement provides laundry and storage space, while a walk-up attic adds additional utility. A porch and private backyard extend the usable space outdoors, and the property has a shared driveway.
Located at 24 Newkirk Avenue in Hamilton, New Jersey, the property is served by public water. Natural gas heating, electric cooling, and a shingle roof are among the existing building systems and features. The home is within the Hamilton East/Steinert School District.
Located at 24 Newkirk Avenue in Hamilton, New Jersey, the property is served by public water. Natural gas heating, electric cooling, and a shingle roof are among the existing building systems and features. The home is within the Hamilton East/Steinert School District.
Key Highlights
- 1,240‑square‑foot duplex on a 0.04‑acre lot
- Three bedrooms, one full bathroom, and a full basement
- Eat‑in kitchen with access to a private backyard
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
$21,913
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
7.56%
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%
$438,260
$438.3K
Cap Rate 7%
$313,043
$313.0K
Cap Rate 9%
$243,478
$243.5K
Market Conditions
NOI Build-Up for 1,240 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
$33.5K $27.00/SF
− Vacancy
−$2.2K −$1.76/SF
EGI
$31.3K $25.25/SF
− OpEx
−$9.4K −$7.57/SF
NOI
$21.9K $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 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%
$438,260
Cap Rate 7%
$313,043
Cap Rate 9%
$243,478
Alternative Uses
Best Use
Multifamily LT 5
$313.0K
$273.9K – $365.2K
NOI $21,913 @ 7.0% cap · market cap 7.56%
Second Best
Apartment 5plus
$270.4K
$236.6K – $315.4K
NOI $18,926 @ 7.0% cap · market cap 6.53%
Theoretical Best
Warehouse
$399.0K
$349.1K – $465.5K
NOI $27,927 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
646
Businesses Nearby
Explore this area
Business Placement
Demographics for 08629, NJ
13,359
Population
4,559
Households
2.9
Avg Household Size
34
Median Age
15%
College-Educated
75%
High-School Grad
0.8 sq mi
ZIP Area
16,699
Density / Sq Mi
$81,367
Median Household Income
$39,278
Median Earnings
$1,263
Median Rent
$149,000
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-story layout includes an eat-in kitchen, full basement, private backyard, and shared driveway.
Where is this duplex located?
The property is located at 24 Newkirk Avenue Hamilton, NJ.
What is the asking price?
The asking price for this property is $289,999.
What are key features of this property?
This property features: 1,240‑square‑foot duplex on a 0.04‑acre lot; Three bedrooms, one full bathroom, and a full basement; Eat‑in kitchen with access to a private backyard
