Multi-Unit Duplex with Basement
489 West Hanover Street Trenton, NJ 08618
489 West Hanover Street, Trenton, NJ, 08618
$300,000
For Sale
$300,000
Duplex with two units offering four bedrooms and two full bathrooms, plus an unfinished basement for storage.
Property Size1,752 SF
Price / SF$171.23
Days on Market190
Property Features for 489 West Hanover Street
General Information
- Standard status
- Active
- Size
- 1,752 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1917
Listing agency
EXP REALTY, LLC
(866) 201-6210
Listed by
PETER BOUTROS · License #300361
Source
Compass
Added: Jan 13 Updated: Jul 20 at 7:38PM Checked: Jul 21 at 8:22AM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This spacious duplex offers flexible living configurations with a total of four bedrooms and two full bathrooms across two units. The main-level unit includes one bedroom and one full bath, along with a living room and a full kitchen. The kitchen has been recently updated with new cabinets, a new backsplash, and a new refrigerator, and the unit’s flooring is approximately two years old.
The upper-level unit features one bedroom and one full bath with a bright living room and a kitchen, and it also includes two additional bedrooms on the third level for added space. The second-floor kitchen has been updated with new cabinets, a new backsplash, and a new refrigerator, and new flooring has been installed throughout. An unfinished basement provides ample storage and future potential.
Additional improvements include a brand-new roof installed in December 2025, with documentation available upon request and the roof warranty transferring to the new owner. The property is located near major highways, public transportation, shopping, dining, and downtown Trenton.
The upper-level unit features one bedroom and one full bath with a bright living room and a kitchen, and it also includes two additional bedrooms on the third level for added space. The second-floor kitchen has been updated with new cabinets, a new backsplash, and a new refrigerator, and new flooring has been installed throughout. An unfinished basement provides ample storage and future potential.
Additional improvements include a brand-new roof installed in December 2025, with documentation available upon request and the roof warranty transferring to the new owner. The property is located near major highways, public transportation, shopping, dining, and downtown Trenton.
Key Highlights
- Duplex with 2 units offering 4 bedrooms and 2 full bathrooms total
- Main‑level unit: 1 bed/1 bath with living room and full kitchen
- Kitchen updates include new cabinets, new backsplash, and new refrigerator in both units
Local Financial Insights For Apartment 5plus
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 | $52.6k | $30.00 |
| − Vacancy | −$3.9k | −$2.25 |
| EGI | $48.6k | $27.75 |
| − OpEx | −$21.9k | −$12.49 |
| NOI | $26.7k | $15.26 |
1,752 SF · lease $30.00/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$442.3K
$387.0K – $516.0K
NOI $30,960 @ 7.0% cap · market cap 10.32%
Second Best
Apartment 5plus
$382.0K
$334.3K – $445.7K
NOI $26,740 @ 7.0% cap · market cap 8.91%
Theoretical Best
Warehouse
$563.7K
$493.2K – $657.6K
NOI $39,458 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Duplex with two units offering four bedrooms and two full bathrooms, plus an unfinished basement for storage.
Where is this duplex located?
The property is located at 489 West Hanover Street Trenton, NJ.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Duplex with 2 units offering 4 bedrooms and 2 full bathrooms total; Main‑level unit: 1 bed/1 bath with living room and full kitchen; Kitchen updates include new cabinets, new backsplash, and new refrigerator in both units
