Two-Unit Duplex with
For Sale
$390,000
244 Sitgreaves St, Phillipsburg, NJ 08865
Under-over duplex with separate one- and two-bedroom units, attic storage, and both off-street and on-street parking.
Property Size1,998 SF
Price / SF$195.20
Days on Market82
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Property Features for 244 Sitgreaves St
General Information
Standard status
Active
Size
1,998 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
NICOLE YARD · License #271237
(908) 735-8080
Source:
Luminancerealty
Added: Jul 26
Changed: Sep 14
Last Checked: Oct 6 at 12:26AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
Located at 244 Sitgreaves St in Phillipsburg Town, NJ 08865, this two-unit residential property offers an under-over configuration with 1,998 square feet of total property size. The lower residence includes 1 bedroom, 1 full bath, a living room, and a kitchen. Upstairs, the second unit provides 2 bedrooms, 1 full bath, a kitchen, and an open living and dining area.
A walk-up attic adds storage space, while parking is available both on and off the street. The property was built in 1920, and some updates were completed in 2022. The existing two-unit layout supports separate residential occupancy, with each unit offering its own kitchen and bath.
A walk-up attic adds storage space, while parking is available both on and off the street. The property was built in 1920, and some updates were completed in 2022. The existing two-unit layout supports separate residential occupancy, with each unit offering its own kitchen and bath.
Key Highlights
- Two‑unit under‑over duplex with 1,998 square feet of total property size
- Lower unit includes 1 bedroom, 1 full bath, living room, and kitchen
- Upper unit features 2 bedrooms, 1 full bath, kitchen, and open living‑dining area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,434
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,680
$588.7K
Cap Rate 7%
$420,486
$420.5K
Cap Rate 9%
$327,044
$327.0K
Market Conditions
NOI Build-Up for 1,998 SF
Gross rent
$44.4K $22.20/SF
− Vacancy
−$2.3K −$1.15/SF
EGI
$42.0K $21.05/SF
− OpEx
−$12.6K −$6.31/SF
NOI
$29.4K $14.73/SF
Area
Warren County, NJ
Vacancy
5.20%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$588,680
Cap Rate 7%
$420,486
Cap Rate 9%
$327,044
Alternative Uses
Best Use
Multifamily LT 5
$420.5K
$367.9K – $490.6K
NOI $29,434 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$377.8K
$330.6K – $440.8K
NOI $26,446 @ 7.0% cap · market cap 6.78%
Theoretical Best
Warehouse
$753.8K
$659.6K – $879.4K
NOI $52,765 @ 7.0% cap · market cap 13.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
Explore this area
Business Placement
Demographics for 08865, NJ
30,537
Population
14,146
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
41.5 sq mi
ZIP Area
736
Density / Sq Mi
$78,519
Median Household Income
$49,811
Median Earnings
$1,248
Median Rent
$244,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Under-over duplex with separate one- and two-bedroom units, attic storage, and both off-street and on-street parking.
Where is this duplex located?
The property is located at 244 Sitgreaves St Phillipsburg, NJ.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two‑unit under‑over duplex with 1,998 square feet of total property size; Lower unit includes 1 bedroom, 1 full bath, living room, and kitchen; Upper unit features 2 bedrooms, 1 full bath, kitchen, and open living‑dining area
