Turn-Key Triplex Income
302 Front Street Belvidere, NJ 07823
302 Front Street, Belvidere, NJ, 07823
$510,000
For Sale
$510,000
Three-unit, fully remodeled triplex with tenant-paid utilities except water/sewer and garbage.
Property Size999 SF
Price / SF$510.51
Days on Market65
Property Features for 302 Front Street
General Information
- Standard status
- Active
- Size
- 999 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1888
Listing agency
FAIRCLOUGH REALTORS
(973) 726-7800
Listed by
MARC WEITZ · License #296166
(973) 726-7800
Source
Compass
Added: May 18 Updated: Jul 10 at 1:51PM Checked: Jul 21 at 6:20AM
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 FAIRCLOUGH REALTORS
Investment Insights
Based on property information with market context.
This turn-key triplex has been completely remodeled inside and out, including a full new roof. The property includes three residential units: two 2-bedroom apartments and one 1-bedroom apartment, with each unit offering 1 bathroom. The building has been renovated for move-in ready living and straightforward day-to-day operations.
Located at 302 Front Street in Belvidere, NJ, the home sits in a town center setting and is described as a great in-town corner location that is walkable for tenants. With a multi-unit layout of three separate apartments, the configuration is well suited for tenants who want individual unit living within a single property.
From an investor or owner-operator standpoint, the utility setup is a practical feature: tenants pay for all utilities except water/sewer and garbage. With two larger 2-bedroom units alongside a 1-bedroom unit, the mix can provide flexibility in tenant sourcing while keeping the property’s residential footprint consistent and maintainable. Overall, it presents a remodeled, income-oriented, three-unit residential asset ready for purchase and management.
Located at 302 Front Street in Belvidere, NJ, the home sits in a town center setting and is described as a great in-town corner location that is walkable for tenants. With a multi-unit layout of three separate apartments, the configuration is well suited for tenants who want individual unit living within a single property.
From an investor or owner-operator standpoint, the utility setup is a practical feature: tenants pay for all utilities except water/sewer and garbage. With two larger 2-bedroom units alongside a 1-bedroom unit, the mix can provide flexibility in tenant sourcing while keeping the property’s residential footprint consistent and maintainable. Overall, it presents a remodeled, income-oriented, three-unit residential asset ready for purchase and management.
Key Highlights
- Three‑unit triplex (8% cap per remarks) with two 2‑bedroom units and one 1‑bedroom unit
- All units have 1 bathroom and are described as fully remodeled inside and out
- New roof was recently installed
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 | $22.2k | $22.20 |
| − Vacancy | −$1.2k | −$1.15 |
| EGI | $21.0k | $21.05 |
| − OpEx | −$6.3k | −$6.31 |
| NOI | $14.7k | $14.73 |
999 SF · lease $22.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$210.2K
$184.0K – $245.3K
NOI $14,717 @ 7.0% cap · market cap 2.89%
Second Best
Apartment 5plus
$188.9K
$165.3K – $220.4K
NOI $13,223 @ 7.0% cap · market cap 2.59%
Theoretical Best
Warehouse
$376.9K
$329.8K – $439.7K
NOI $26,383 @ 7.0% cap · market cap 5.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Three-unit, fully remodeled triplex with tenant-paid utilities except water/sewer and garbage.
Where is this triplex located?
The property is located at 302 Front Street Belvidere, NJ.
What is the asking price?
The asking price for this property is $510,000.
What are key features of this property?
This property features: Three‑unit triplex (8% cap per remarks) with two 2‑bedroom units and one 1‑bedroom unit; All units have 1 bathroom and are described as fully remodeled inside and out; New roof was recently installed
