Victorian Duplex with Detached
For Sale
$699,000
38 John Ringo Rd, Ringoes, NJ 08551
Two separately metered apartments are complemented by off-street parking and a detached outbuilding with a garage bay.
Property Size2,356 SF
Price / SF$296.69
Days on Market82
Property Features for 38 John Ringo Rd
General Information
Standard status
Active
Size
2,356 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
front porch
side deck
enclosed sun porch
washer/dryer hookups
hardwood floors
attic access
Building Details
Year Built
1880
Buildings
2
Construction
Victorian
Listing Agency:
Callaway Henderson Sotheby's Int'l-Lambertville
Listed By:
Beth M Steffanelli · License #8433305
(609) 397-1974
Source:
Premierehomegroup
Added: Jul 27
Changed: Oct 9
Last Checked: Oct 7 at 1:41PM
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 Callaway Henderson Sotheby's Int'l-Lambertville
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Investment Insights
Based on property information with market context.
Built in 1880, this Victorian duplex contains two apartments with distinct layouts. The first-floor residence has three bedrooms, two full bathrooms, an eat-in kitchen with washer and dryer hookups, a living room, an enclosed sun porch, and basement access. The upper apartment includes two bedrooms, one full bathroom, a kitchen, living room, hardwood floors, and pull-down attic access.
A detached two-story outbuilding adds a garage bay that is plumbed for a bathroom, with potential applications identified as office, studio, or workshop space. The property also provides generous off-street parking, and each apartment is separately metered. The property is located at 38 John Ringo Rd in Ringoes, New Jersey.
A detached two-story outbuilding adds a garage bay that is plumbed for a bathroom, with potential applications identified as office, studio, or workshop space. The property also provides generous off-street parking, and each apartment is separately metered. The property is located at 38 John Ringo Rd in Ringoes, New Jersey.
Key Highlights
- Two apartments within a 2,356‑square‑foot Victorian property
- First‑floor apartment includes 3 bedrooms and 2 full bathrooms
- Second apartment offers 2 bedrooms, hardwood floors, and attic access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,430
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$788,600
$788.6K
Cap Rate 7%
$563,286
$563.3K
Cap Rate 9%
$438,111
$438.1K
Market Conditions
NOI Build-Up for 2,356 SF
Gross rent
$60.2K $25.56/SF
− Vacancy
−$3.9K −$1.65/SF
EGI
$56.3K $23.91/SF
− OpEx
−$16.9K −$7.17/SF
NOI
$39.4K $16.74/SF
Area
Hunterdon 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%
$788,600
Cap Rate 7%
$563,286
Cap Rate 9%
$438,111
Alternative Uses
Best Use
Multifamily LT 5
$563.3K
$492.9K – $657.2K
NOI $39,430 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$517.6K
$452.9K – $603.9K
NOI $36,231 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$615.2K
$538.3K – $717.7K
NOI $43,064 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
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Business Placement
Demographics for 08551, NJ
5,540
Population
2,196
Households
2.5
Avg Household Size
48
Median Age
65%
College-Educated
97%
High-School Grad
26.2 sq mi
ZIP Area
211
Density / Sq Mi
$154,966
Median Household Income
$70,446
Median Earnings
$2,125
Median Rent
$580,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered apartments are complemented by off-street parking and a detached outbuilding with a garage bay.
Where is this duplex located?
The property is located at 38 John Ringo Rd Ringoes, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Two apartments within a 2,356‑square‑foot Victorian property; First‑floor apartment includes 3 bedrooms and 2 full bathrooms; Second apartment offers 2 bedrooms, hardwood floors, and attic access
