Two-Unit Duplex with Water
New
For Sale
$495,000
43 S MAIN ST, Allentown, NJ 08501
Two-story income property with one occupied unit and one available for owner use.
Property Size2,029 SF
Price / SF$243.96
Days on Market2
Property Features for 43 S MAIN ST
General Information
Standard status
Active
Size
2,029 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 1BR/1BA, 1 x 1BR/1BA + loft
Multifamily Units
2
Building Details
Stories
2
Listing Agency:
RE/MAX Select - Princeton
(609) 921-9202
Listed By:
Joe DeLorenzo
(609) 635-0714
Source:
360
Added: Sep 7
Last Checked: Sep 7 at 2:46PM
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 RE/MAX Select - Princeton
Investment Insights
Based on property information with market context.
This two-story duplex includes two separate residential units, creating a flexible configuration for an income-property owner or an owner-user. The lower residence contains one bedroom and one bathroom and is currently occupied. The upper residence offers one bedroom, one bathroom, and a spacious loft that can serve as additional living, office, or den space.
The property is located at 43 S MAIN ST in downtown Allentown, NJ, directly on Connies Millpond. A deep backyard extends from the home and provides views toward the water. The upper unit is vacant, while the lower unit is occupied under an existing lease, allowing the property to accommodate different use strategies.
The property is located at 43 S MAIN ST in downtown Allentown, NJ, directly on Connies Millpond. A deep backyard extends from the home and provides views toward the water. The upper unit is vacant, while the lower unit is occupied under an existing lease, allowing the property to accommodate different use strategies.
Key Highlights
- Two separate residential units in a two‑story duplex
- Lower unit includes 1 bedroom and 1 bathroom
- Upper unit includes 1 bedroom, 1 bathroom, and a spacious loft
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
$33,958
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
6.86%
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%
$679,160
$679.2K
Cap Rate 7%
$485,114
$485.1K
Cap Rate 9%
$377,311
$377.3K
Market Conditions
NOI Build-Up for 2,029 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
$51.9K $25.56/SF
− Vacancy
−$3.4K −$1.65/SF
EGI
$48.5K $23.91/SF
− OpEx
−$14.6K −$7.17/SF
NOI
$34.0K $16.74/SF
Area
Monmouth 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%
$679,160
Cap Rate 7%
$485,114
Cap Rate 9%
$377,311
Alternative Uses
Best Use
Multifamily LT 5
$485.1K
$424.5K – $566.0K
NOI $33,958 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$445.7K
$390.0K – $520.0K
NOI $31,202 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$529.8K
$463.6K – $618.1K
NOI $37,087 @ 7.0% cap · market cap 7.49%
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
278
Businesses Nearby
Explore this area
Business Placement
Demographics for 08501, NJ
6,574
Population
2,495
Households
2.6
Avg Household Size
46
Median Age
60%
College-Educated
96%
High-School Grad
27.2 sq mi
ZIP Area
242
Density / Sq Mi
$133,015
Median Household Income
$71,700
Median Earnings
$1,457
Median Rent
$530,100
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 - Two-story income property with one occupied unit and one available for owner use.
Where is this duplex located?
The property is located at 43 S MAIN ST Allentown, NJ.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two separate residential units in a two‑story duplex; Lower unit includes 1 bedroom and 1 bathroom; Upper unit includes 1 bedroom, 1 bathroom, and a spacious loft
