Duplex with Finished
New
For Sale
$849,000
27 Honiss St, Belleville, NJ 07109
MULTI_FAMILY - Belleville Twp., NJ
Property Size2,144 SF
Lot Size0.09 Acres
Price / SF$395.99
Days on Market5
Property Features for 27 Honiss St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 7, Bedroom 5, Basement, Bedroom 4, Bedroom 6, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 2
Parking
5
Interior features
Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Tile Floors, Vinyl-Linoleum Floors
Directions
From Washington Ave, turn onto Honiss St. Property is located at 27 Honiss St, Belleville, NJ
Standard status
Active
Size
2,144 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11789
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1897
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX SELECT · RE/MAX International
(973) 739-8008
Listed By:
MARIANGELA RODRIGUEZ QUINTERO
(973) 539-6300
Added: Aug 10
Changed: Aug 13
Last Checked: Aug 14 at 9:06AM
MLS# 4046011
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 2,144-square-foot duplex, built in 1897, contains two residential units. One unit has four bedrooms and one full bathroom, while the other includes three bedrooms and one full bathroom. A finished basement adds another full bathroom and adaptable living or recreation space. The property also provides an attached garage, backyard, and driveway parking for up to four vehicles.
Public water and public sewer serve the property. Interior features include tile and vinyl-linoleum flooring, central air, smoke and carbon monoxide detectors, and a fire extinguisher. Heating equipment includes hot water, baseboard, and forced air systems. The property occupies 0.09 acres and has a shingle roof.
Public water and public sewer serve the property. Interior features include tile and vinyl-linoleum flooring, central air, smoke and carbon monoxide detectors, and a fire extinguisher. Heating equipment includes hot water, baseboard, and forced air systems. The property occupies 0.09 acres and has a shingle roof.
Key Highlights
- Two‑unit duplex with 4‑bedroom and 3‑bedroom layouts
- 2,144 square feet on a 0.09‑acre lot
- Finished basement with an additional full bathroom
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
$35,882
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
4.23%
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%
$717,640
$717.6K
Cap Rate 7%
$512,600
$512.6K
Cap Rate 9%
$398,689
$398.7K
Market Conditions
NOI Build-Up for 2,144 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
$54.8K $25.56/SF
− Vacancy
−$3.5K −$1.65/SF
EGI
$51.3K $23.91/SF
− OpEx
−$15.4K −$7.17/SF
NOI
$35.9K $16.74/SF
Area
Essex 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%
$717,640
Cap Rate 7%
$512,600
Cap Rate 9%
$398,689
Alternative Uses
Best Use
Multifamily LT 5
$512.6K
$448.5K – $598.0K
NOI $35,882 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$471.0K
$412.1K – $549.5K
NOI $32,970 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$559.8K
$489.9K – $653.2K
NOI $39,189 @ 7.0% cap · market cap 4.62%
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
1,571
Businesses Nearby
Explore this area
Business Placement
Demographics for 07109, NJ
38,078
Population
15,045
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
3.3 sq mi
ZIP Area
11,539
Density / Sq Mi
$90,164
Median Household Income
$47,446
Median Earnings
$1,596
Median Rent
$405,500
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 residential units, an attached garage, backyard, and off-street parking support flexible living arrangements.
Where is this duplex located?
The property is located at 27 Honiss St Belleville, NJ.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two‑unit duplex with 4‑bedroom and 3‑bedroom layouts; 2,144 square feet on a 0.09‑acre lot; Finished basement with an additional full bathroom
