Duplex with Finished
For Sale
$849,000
27 Honiss St, Belleville, NJ 07109
Two residential units are complemented by an attached garage, backyard, and driveway parking.
Property Size2,144 SF
Price / SF$395.99
Days on Market16
Property Features for 27 Honiss St
General Information
Standard status
Active
Size
2,144 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
attached garage
backyard
finished basement
Building Details
Year Built
1897
Buildings
1
Listing Agency:
RE/MAX SELECT
(973) 739-8008
Listed By:
MARIANGELA RODRIGUEZ QUINTERO
Source:
Goldstandardrealty
Added: Aug 14
Changed: Aug 28
Last Checked: Aug 29 at 12:36PM
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 RE/MAX SELECT
Investment Insights
Based on property information with market context.
This two-unit residential property contains 2,144 square feet and was built in 1897. The larger apartment offers four bedrooms and one full bathroom, while the second includes three bedrooms and one full bathroom. A finished basement adds another full bathroom along with flexible living or recreation space. An attached garage, backyard, and driveway accommodating up to four vehicles complete the property’s physical features.
The home is situated near major highways, public transportation, shopping, restaurants, schools, and parks. Its two-unit configuration, additional finished space, and on-site parking support residential occupancy and investment use without relying on unverified assumptions about tenancy or operations.
The home is situated near major highways, public transportation, shopping, restaurants, schools, and parks. Its two-unit configuration, additional finished space, and on-site parking support residential occupancy and investment use without relying on unverified assumptions about tenancy or operations.
Key Highlights
- Two‑unit property with 2,144 square feet, built in 1897
- Unit mix includes 4 bedrooms and 1 full bathroom plus 3 bedrooms and 1 full bathroom
- 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
1,591
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 are complemented by an attached garage, backyard, and driveway parking.
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 property with 2,144 square feet, built in 1897; Unit mix includes 4 bedrooms and 1 full bathroom plus 3 bedrooms and 1 full bathroom; Finished basement with an additional full bathroom
