Duplex Income Property with
287 Johnson Avenue, Lawrence, NJ 08648
- Added:
- Mar 23, 2026
- Days on Market:
- 102
- Last Refresh:
- Jul 2 at 8:06 am
Property Features for 287 Johnson Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 2
- Rooms
- Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 2, Bedroom 1, Bathroom 1, Basement, Bedroom 2
- Parking features
- Off Street, Open
- Patio and Porch features
- Patio
- Fireplace
- 1
- Basement
- Crawl Space
- Standard status
- Pending
- APN
- 07-02323-0000-00020
- Size
- 1,760 SF
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 7099
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned
- Cooling system
- Multi Units
- Water source
- Public
Building Details
- Year built
- 1950
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Laminate, Tile - Ceramic, Wood
- Roof type
- Shingle
Listing agent Karen J Bove-Quick (732) 449-2777
Listing office Coldwell Banker Realty 1122 Third Ave., Spring Lake, NJ (732) 449-2777
Listing date Mar 23, 2026
MLS# 22607529
Listing URL
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.
HighLights
- Duplex on a large lot in a quiet residential neighborhood, across from a bike and walking trail
- Two units: first floor rented as 3‑bed, 1‑bath; second floor vacant as 2‑bed, 1‑bath
- Parking for 6+ cars with off‑street and open parking
- Newer shingle roof; public water and public sewer
- Interior features include wood, ceramic tile, and laminate flooring, with zoned heating and multi‑unit cooling
- Includes a basement and a fireplace
Overview
This duplex offers two separate residential units with a practical income configuration. The first-floor rental is currently occupied as a 3-bedroom, 1-bath apartment and is described as having many updates. The second-floor apartment is currently vacant and set up as a 2-bedroom, 1-bath unit, providing flexibility for an owner-occupant or an investor seeking to re-rent or improve between tenants. The property also includes on-site parking for 6+ cars and has a newer roof and additional updates.
Situated in a quiet residential neighborhood on a large lot, the home is positioned across from a bike and walking trail. Convenience is a key factor here, with access to shopping, universities, schools, houses of worship, and major roads including Routes 206 and I-95 and I-295.
For investors, the mix of an occupied unit and a vacant unit can support steady cash flow while still leaving room to optimize the second unit. For buyers considering owner-occupancy, the layout can accommodate living in one unit while renting the other, with ample parking available on site.
Situated in a quiet residential neighborhood on a large lot, the home is positioned across from a bike and walking trail. Convenience is a key factor here, with access to shopping, universities, schools, houses of worship, and major roads including Routes 206 and I-95 and I-295.
For investors, the mix of an occupied unit and a vacant unit can support steady cash flow while still leaving room to optimize the second unit. For buyers considering owner-occupancy, the layout can accommodate living in one unit while renting the other, with ample parking available on site.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.5k | $27.00 |
| − Vacancy | −$3.1k | −$1.76 |
| EGI | $44.4k | $25.25 |
| − OpEx | −$13.3k | −$7.57 |
| NOI | $31.1k | $17.67 |
1,760 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$444.3K
$388.8K – $518.4K
NOI $31,102 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$383.7K
$335.8K – $447.7K
NOI $26,862 @ 7.0% cap · market cap 6.12%
Theoretical Best
Warehouse
$566.3K
$495.5K – $660.6K
NOI $39,638 @ 7.0% cap · market cap 9.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Lawrence
- County
- Mercer
- State
- New Jersey
- Longitude
- -74.752613
- Latitude
- 40.270024
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - A two-unit duplex on a large lot, featuring a newly updated occupied unit and a vacant second-floor apartment.
Where is this duplex located?
The property is located at 287 Johnson Avenue Lawrence, NJ.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Duplex on a large lot in a quiet residential neighborhood, across from a bike and walking trail; Two units: first floor rented as 3‑bed, 1‑bath; second floor vacant as 2‑bed, 1‑bath; Parking for 6+ cars with off‑street and open parking
