Remodeled Duplex with Finished
For Sale
$759,900
39 Halsted Street Unit 2, Newton, NJ 07860
Separate laundry rooms and updated kitchens complement flexible finished-space layouts in both residences.
Property Size1,650 SF
Price / SF$460.55
Days on Market269
Property Features for 39 Halsted Street Unit 2
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Multi Family / 3-Three Story
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,562
Amenities
Yes
Asphalt Shingle
Carbon Monoxide Detector, Fire Extinguisher, Tile Floors, Walk-In Closet, Wood Floors
Finished
Vinyl Fence
Vinyl Siding
Building Details
Year Built
1925
Buildings
1
Listing Agency:
REALTY ONE GROUP LEGEND
(973) 772-0660
Listed By:
HERBERT MELO · License #261345
(973) 772-0660
Source:
Compass
Added: Dec 5, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:41AM
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 REALTY ONE GROUP LEGEND
Investment Insights
Based on property information with market context.
This 1925 duplex contains two residences with substantial finished living areas and contemporary interior updates. The lower-level residence combines its main floor with a finished basement and includes three bedrooms, a private primary suite, walk-in closet, and full bathroom. The upper residence extends across the second floor and finished attic. Both units feature open-concept interiors, quartz kitchen counters, updated cabinetry, dedicated laundry rooms, and two additional full bathrooms. Finished upper and lower areas provide added room for recreation, entertaining, or adaptable household use.
The property is located at 39 Halsted Street in Newton, New Jersey, near shopping, dining, schools, and transportation. Exterior features include vinyl siding, vinyl fencing, asphalt shingles, wood and tile flooring, carbon monoxide detectors, and fire extinguishers.
The property is located at 39 Halsted Street in Newton, New Jersey, near shopping, dining, schools, and transportation. Exterior features include vinyl siding, vinyl fencing, asphalt shingles, wood and tile flooring, carbon monoxide detectors, and fire extinguishers.
Key Highlights
- Two‑family duplex built in 1925
- First residence includes three bedrooms and a private primary suite
- Finished basement and finished attic expand usable living areas
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
$27,615
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
3.63%
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%
$552,300
$552.3K
Cap Rate 7%
$394,500
$394.5K
Cap Rate 9%
$306,833
$306.8K
Market Conditions
NOI Build-Up for 1,650 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
$42.2K $25.56/SF
− Vacancy
−$2.7K −$1.65/SF
EGI
$39.4K $23.91/SF
− OpEx
−$11.8K −$7.17/SF
NOI
$27.6K $16.74/SF
Area
Sussex 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 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%
$552,300
Cap Rate 7%
$394,500
Cap Rate 9%
$306,833
Alternative Uses
Best Use
Multifamily LT 5
$394.5K
$345.2K – $460.3K
NOI $27,615 @ 7.0% cap · market cap 3.63%
Second Best
Apartment 5plus
$362.5K
$317.2K – $422.9K
NOI $25,374 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$430.8K
$377.0K – $502.7K
NOI $30,159 @ 7.0% cap · market cap 3.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,026
Businesses Nearby
Explore this area
Business Placement
Demographics for 07860, NJ
25,704
Population
11,473
Households
2.2
Avg Household Size
46
Median Age
40%
College-Educated
95%
High-School Grad
100.2 sq mi
ZIP Area
257
Density / Sq Mi
$104,113
Median Household Income
$53,509
Median Earnings
$1,437
Median Rent
$336,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate laundry rooms and updated kitchens complement flexible finished-space layouts in both residences.
Where is this duplex located?
The property is located at 39 Halsted Street Unit 2 Newton, NJ.
What is the asking price?
The asking price for this property is $759,900.
What are key features of this property?
This property features: Two‑family duplex built in 1925; First residence includes three bedrooms and a private primary suite; Finished basement and finished attic expand usable living areas
