Two-Unit Residential
For Sale
$688,000
481 Hamilton St, Franklin Twp, NJ 08873
Multi-Family, 2-Two Story, Franklin Twp., NJ
Property Size1,440 SF
Lot Size0.08 Acres
Price / SF$477.78
Days on Market12
Property Features for 481 Hamilton St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
HBD
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 6, Basement, Bedroom 5, Bathroom 1, Bedroom 1
Parking
2
Patio and Porch features
Porch
Interior features
Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Wood Floors
Exterior features
Curbs, Open Porch(es), Sidewalk, Storm Door(s)
Lot features
Level Lot
Elementary school
PINE GROVE
Middle school
FRANKLIN
High school
FRANKLIN
Directions
Follow GPS. Hamilton St between Mile Run Rd and Veronica Ave. The property is located near the New Brunswick border.
Standard status
Active
Size
1,440 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4516
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Amenities
large backyard
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
ELITE REALTORS OF NEW JERSEY
(973) 994-9009
Listed By:
XIANGHUI LOTUS ZHANG
(973) 625-1313
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 10 at 5:06PM
MLS# 4055764
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.
Investment Insights
Based on property information with market context.
This two-family residential property contains 1,440 square feet across two units. The Township recognizes the use as a legal pre-existing, nonconforming two-family use within the HBD zone. The home was built in 1950 and includes wood flooring, a porch, and driveway parking, with a large backyard. Separate gas and electric meters are in place, and tenants pay utilities.
The 0.08-acre property is on Hamilton Street in Franklin Township. Public water and sewer serve the site.
The 0.08-acre property is on Hamilton Street in Franklin Township. Public water and sewer serve the site.
Key Highlights
- 1,440‑square‑foot duplex with a recognized legal pre‑existing, nonconforming two‑family use
- HBD zoning
- Separate gas and electric meters; tenants pay utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,551
Cap Rate
2.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$411,020
$411.0K
Cap Rate 7%
$293,586
$293.6K
Cap Rate 9%
$228,344
$228.3K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$31.1K $21.60/SF
− Vacancy
−$1.7K −$1.21/SF
EGI
$29.4K $20.39/SF
− OpEx
−$8.8K −$6.12/SF
NOI
$20.6K $14.27/SF
Area
Somerset County, NJ
Vacancy
5.61%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$411,020
Cap Rate 7%
$293,586
Cap Rate 9%
$228,344
Alternative Uses
Best Use
Multifamily LT 5
$293.6K
$256.9K – $342.5K
NOI $20,551 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$255.5K
$223.6K – $298.1K
NOI $17,887 @ 7.0% cap · market cap 2.60%
Theoretical Best
Office A
$376.0K
$329.0K – $438.7K
NOI $26,321 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,448
Businesses Nearby
Explore this area
Business Placement
Demographics for 08873, NJ
55,500
Population
22,142
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,729
Density / Sq Mi
$117,866
Median Household Income
$61,727
Median Earnings
$1,942
Median Rent
$438,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate gas and electric meters serve the two-family property, with tenants responsible for utilities.
Where is this duplex located?
The property is located at 481 Hamilton St Franklin Twp, NJ.
What is the asking price?
The asking price for this property is $688,000.
What are key features of this property?
This property features: 1,440‑square‑foot duplex with a recognized legal pre‑existing, nonconforming two‑family use; HBD zoning; Separate gas and electric meters; tenants pay utilities
