Multifamily Property with
For Sale
$449,000
305 Chestnut Avenue, Trenton, NJ 08609
Residentially zoned property includes an eat-in kitchen, dishwasher, and ceiling fan.
Property Size1,248 SF
Price / SF$359.78
Days on Market156
Property Features for 305 Chestnut Avenue
General Information
Standard status
Active
Size
1,248 SF
Total Parking Spaces
10
Property subtype
Multi-Family / Fee Simple
Zoning
RES
Taxes and HOA fees
Annual Taxes
$9,415
Amenities
No
Dishwasher
Ceiling Fan(s), Kitchen - Eat-In
No Pool
Above Grade, Below Grade
Deck(s)
Building Details
Year Built
1950
Listing Agency:
Keller Williams Premier
(201) 233-1908
Listed By:
Nona Kulikova · License #566637
(201) 233-1908
Source:
Compass
Added: Mar 29
Changed: Aug 31
Last Checked: Aug 31 at 12:55AM
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 Keller Williams Premier
Investment Insights
Based on property information with market context.
This multifamily property at 305 Chestnut Avenue in Trenton, New Jersey, contains 1,248 square feet and was built in 1950. The interior includes a dishwasher, an eat-in kitchen, and a ceiling fan. Exterior features include a deck, with no pool identified.
The property carries RES zoning and is located within the Trenton Public Schools district. Above-grade and below-grade areas are identified in the property information.
The property carries RES zoning and is located within the Trenton Public Schools district. Above-grade and below-grade areas are identified in the property information.
Key Highlights
- 1,248‑square‑foot multifamily property at 305 Chestnut Avenue, Trenton, NJ 08609
- Built in 1950
- RES zoning
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
$19,048
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
4.24%
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%
$380,960
$381.0K
Cap Rate 7%
$272,114
$272.1K
Cap Rate 9%
$211,644
$211.6K
Market Conditions
NOI Build-Up for 1,248 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
$37.4K $30.00/SF
− Vacancy
−$2.8K −$2.25/SF
EGI
$34.6K $27.75/SF
− OpEx
−$15.6K −$12.49/SF
NOI
$19.0K $15.26/SF
Area
Mercer County, NJ
Vacancy
7.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$380,960
Cap Rate 7%
$272,114
Cap Rate 9%
$211,644
Alternative Uses
Best Use
Apartment 5plus
$272.1K
$238.1K – $317.5K
NOI $19,048 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$401.5K
$351.3K – $468.5K
NOI $28,107 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,910
Businesses Nearby
Explore this area
Business Placement
Demographics for 08609, NJ
14,867
Population
5,347
Households
2.8
Avg Household Size
33
Median Age
10%
College-Educated
72%
High-School Grad
1.3 sq mi
ZIP Area
11,436
Density / Sq Mi
$56,932
Median Household Income
$36,133
Median Earnings
$1,218
Median Rent
$96,700
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?
Multifamily property - Residentially zoned property includes an eat-in kitchen, dishwasher, and ceiling fan.
Where is this multifamily property located?
The property is located at 305 Chestnut Avenue Trenton, NJ.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 1,248‑square‑foot multifamily property at 305 Chestnut Avenue, Trenton, NJ 08609; Built in 1950; RES zoning
