Two-Family Duplex with Oversized
301-325 Division Street, Boonton, NJ 07005
For Sale
Contact for pricing
Well-maintained two-family home featuring two-bedroom layouts, hardwood floors, and central heating and air conditioning in each unit.
Property Size52,000 SF
Lot Size5,624.00 Acres
Price / SF$288.46
Days on Market149
Property Features for 301-325 Division Street
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Occupancy
Lease Type
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Cervelli Real Estate & Property Management
Listed By:
Chris Cervelli · License NJ #9807944
(201) 390-5421
Source:
Crexi
Added: Jun 17
Changed: Nov 10
Last Checked: Nov 12 at 4:56AM
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 Cervelli Real Estate & Property Management
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Investment Insights
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This well-maintained two-family duplex sits on a generous 5,624 SF lot and is designed for straightforward living and easy management. Each apartment offers 2 bedrooms and 1 full bathroom, with hardwood floors throughout. The first-floor unit includes a welcoming front porch. The property also features an oversized garage and a high-and-dry basement, providing additional storage capacity. System and infrastructure updates include upgraded electrical service and a newer central heating and air conditioning setup, supporting reliable year-round comfort.
The property is located at 301-325 Division Street in Boonton, NJ, in a desirable residential neighborhood. Its residential placement supports both owner-occupants and renters looking for a familiar day-to-day setting.
With identical unit layouts, the building can simplify occupancy and leasing for an investor, while also working well for an owner-occupant who wants space and rental income potential. The combination of in-unit central HVAC, hardwood flooring, and a functional basement and oversized garage make it practical for long-term use and everyday convenience. For buyers seeking a clean, upgrade-supported two-family property, this one is worth a closer look.
The property is located at 301-325 Division Street in Boonton, NJ, in a desirable residential neighborhood. Its residential placement supports both owner-occupants and renters looking for a familiar day-to-day setting.
With identical unit layouts, the building can simplify occupancy and leasing for an investor, while also working well for an owner-occupant who wants space and rental income potential. The combination of in-unit central HVAC, hardwood flooring, and a functional basement and oversized garage make it practical for long-term use and everyday convenience. For buyers seeking a clean, upgrade-supported two-family property, this one is worth a closer look.
Key Highlights
- Two‑family home built in 1973 on a 5,624 SF lot
- Each unit has 2 bedrooms and 1 full bathroom
- Newer central heating and air conditioning in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$870,281
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,405,620
$17.4M
Cap Rate 7%
$12,432,586
$12.4M
Cap Rate 9%
$9,669,789
$9.7M
Market Conditions
NOI Build-Up for 52,000 SF
Gross rent
$1.33M $25.56/SF
− Vacancy
−$85.9K −$1.65/SF
EGI
$1.24M $23.91/SF
− OpEx
−$373.0K −$7.17/SF
NOI
$870.3K $16.74/SF
Area
Morris 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 Rate 5%
$17,405,620
Cap Rate 7%
$12,432,586
Cap Rate 9%
$9,669,789
Alternative Uses
Best Use
Multifamily LT 5
$12.43M
$10.88M – $14.50M
NOI $870,281 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$11.42M
$10.00M – $13.33M
NOI $799,656 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$13.58M
$11.88M – $15.84M
NOI $950,477 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
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Business Placement
Demographics for 07005, NJ
15,985
Population
6,115
Households
2.6
Avg Household Size
43
Median Age
56%
College-Educated
96%
High-School Grad
18.3 sq mi
ZIP Area
873
Density / Sq Mi
$126,411
Median Household Income
$66,198
Median Earnings
$1,779
Median Rent
$565,900
Median Home Value
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Market
Properties on Market for Duplexes in Morris County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home featuring two-bedroom layouts, hardwood floors, and central heating and air conditioning in each unit.
Where is this duplex located?
The property is located at 301-325 Division Street Boonton, NJ.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: Two‑family home built in 1973 on a 5,624 SF lot; Each unit has 2 bedrooms and 1 full bathroom; Newer central heating and air conditioning in each unit
