314 Cornelia St, Boonton, NJ 07005
Fourplex, Multi-Family - Boonton Town, NJ
- Added:
- Jun 24, 2026
- Days on Market:
- 4
- Last Refresh:
- Jun 27 at 2:06 pm
Property Features for 314 Cornelia St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- MULTI FAMILY
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room, Kitchen, Laundry, Living Room, Master Bedroom
- Parking
- 8
- Parking features
- Driveway
- Interior features
- Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Tile Floors, Vinyl-Linoleum Floors
- Exterior features
- Thermal Windows/Doors
- Basement Y/N
- 1
- Appliances
- Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer, Washer/Dryer Combo, Washer/Dryer Stack
- Standard status
- Active
- Size
- 6,000 SF
- Lot size
- 0.63 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 33893
Utilities
- Heating system
- Forced Air, Heat Pump (Heating)
- Cooling system
- Central Air, Ductless, Multi Units
Building Details
- Year built
- 1865
- Number of units
- 4
- Building materials
- Cedar, Stone
- Roof type
- Slate
- Architectural style
- Other
Listing agent JOSEPH MORREALE (973) 625-0450
Listing office RE/MAX SELECT 20 WEST MAIN STREET, Morristown, NJ (973) 625-0450
Listing date Jun 24, 2026
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Overview
The property is located within a short walk of downtown and is described as close to public transportation, major routes, and shopping.
Configured as a fourplex under multifamily zoning, this offering can support an owner-occupant who lives in one unit while renting the others. It also appeals to investors and operators looking for a turn-key, newly updated income property with multiple unit types, including two-bedroom and three-bedroom configurations, along with dedicated heating and air systems by unit.
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 | $153.4k | $25.56 |
| − Vacancy | −$9.9k | −$1.65 |
| EGI | $143.5k | $23.91 |
| − OpEx | −$43.0k | −$7.17 |
| NOI | $100.4k | $16.74 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Boonton
- County
- Morris
- State
- New Jersey
- Longitude
- -74.40813
- Latitude
- 40.90758
