Two-Family Brick
332 ELMER Street Trenton, NJ 08611
For Sale
$310,000
MULTI_FAMILY - TRENTON, NJ
Property Size1,488 SF
Lot Size0.05 Acres
Price / SF$208.33
Days on Market119
Property Features for 332 ELMER Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Standard status
Active
Size
1,488 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
4098
Utilities
Heating system
Baseboard, Hot Water(Heating)
Building Details
Year built
1980
Number of units
2
Building materials
Brick
Listing Agency:
Keller Williams Premier
(609) 459-5100
Listed By:
Nona Kulikova · License #566637
(201) 233-1908
Added: Apr 1
Changed: Jun 29
Last Checked: Jul 28 at 6:06AM
MLS# NJME2074790
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family brick building offers two separate apartments with individual unit layouts. The first floor is described as a 1–2 bedroom apartment and is currently vacant, while the second floor is a 2-bedroom apartment and is currently rented. All separate utilities are noted for the units. The property is being sold as-is and the building needs some TLC.
Located at 332 Elmer Street in Trenton’s Chambersburg section of Mercer County, the property is positioned for buyers looking for a residence with rental income from the second unit. The current configuration supports an owner-occupant scenario where one unit can be lived in while the other provides ongoing rental revenue.
For investors, the building presents a straightforward duplex setup with separate utilities and one unit presently ready for occupancy or updating. For first-time buyers, the current vacancy on the first floor can allow a buyer to tailor that unit for their own use while relying on the second unit’s existing tenancy. The as-is condition should be considered for buyers planning renovations or light-to-moderate improvements.
Located at 332 Elmer Street in Trenton’s Chambersburg section of Mercer County, the property is positioned for buyers looking for a residence with rental income from the second unit. The current configuration supports an owner-occupant scenario where one unit can be lived in while the other provides ongoing rental revenue.
For investors, the building presents a straightforward duplex setup with separate utilities and one unit presently ready for occupancy or updating. For first-time buyers, the current vacancy on the first floor can allow a buyer to tailor that unit for their own use while relying on the second unit’s existing tenancy. The as-is condition should be considered for buyers planning renovations or light-to-moderate improvements.
Key Highlights
- Two‑family brick building in the Chambersburg section of Trenton
- Second‑floor 2‑bedroom unit is currently rented for $1,300
- First‑floor 1–2 bedroom apartment is currently vacant
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 | $40.2k | $27.00 |
| − Vacancy | −$2.6k | −$1.76 |
| EGI | $37.6k | $25.25 |
| − OpEx | −$11.3k | −$7.57 |
| NOI | $26.3k | $17.67 |
1,488 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$375.6K
$328.7K – $438.3K
NOI $26,295 @ 7.0% cap · market cap 8.48%
Second Best
Apartment 5plus
$324.4K
$283.9K – $378.5K
NOI $22,711 @ 7.0% cap · market cap 7.33%
Theoretical Best
Warehouse
$478.7K
$418.9K – $558.5K
NOI $33,512 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Brick duplex with separate utilities, offering a vacant first-floor unit and a currently rented second-floor unit.
Where is this duplex located?
The property is located at 332 ELMER Street Trenton, NJ.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two‑family brick building in the Chambersburg section of Trenton; Second‑floor 2‑bedroom unit is currently rented for $1,300; First‑floor 1–2 bedroom apartment is currently vacant
