Colonial Duplex with
For Sale
$274,990
49 ELLSWORTH Avenue, Trenton, NJ 08618
MULTI_FAMILY - Colonial - TRENTON, NJ
Property Size1,400 SF
Lot Size0.05 Acres
Price / SF$196.42
Days on Market51
Property Features for 49 ELLSWORTH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
2
Parking features
Driveway
Elementary school district
TRENTON PUBLIC SCHOOLS
Middle school district
TRENTON PUBLIC SCHOOLS
High school district
TRENTON PUBLIC SCHOOLS
Standard status
Active
Size
1,400 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
3056
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1920
Number of units
1
Building materials
Brick, Aluminum Siding
Architectural style
Colonial
Listing Agency:
Coldwell Banker Residential Brokerage - Princeton · Coldwell Banker Real Estate
(609) 921-1411
Listed By:
Shalaya M. Thomas · License #2190002
(609) 815-9836
Added: Jun 26
Changed: Aug 12
Last Checked: Aug 15 at 5:06AM
MLS# NJME2079386
Copyright © 2026 Bright MLS. 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 colonial-style duplex at 49 Ellsworth Avenue offers a compact, functional layout and a solid exterior mix of brick and aluminum siding. The property includes heating described as “other (heating)” and cooling via window unit(s). Parking is available with a driveway.
The lot size is 0.0466 acres, and the property size is 1,400 square feet. Constructed in 1920, this duplex is positioned as a lower-maintenance addition for an investor, with the buyer responsible for any required township inspections or certifications.
For investors evaluating a small, self-directed residential income asset, the combination of brick/aluminum siding, driveway parking, and established age of improvements may fit buyers looking for a straightforward duplex profile.
The lot size is 0.0466 acres, and the property size is 1,400 square feet. Constructed in 1920, this duplex is positioned as a lower-maintenance addition for an investor, with the buyer responsible for any required township inspections or certifications.
For investors evaluating a small, self-directed residential income asset, the combination of brick/aluminum siding, driveway parking, and established age of improvements may fit buyers looking for a straightforward duplex profile.
Key Highlights
- 0.0466‑acre lot
- 1,400 SF duplex property size
- Brick and aluminum siding construction
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
$24,740
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
9.00%
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%
$494,800
$494.8K
Cap Rate 7%
$353,429
$353.4K
Cap Rate 9%
$274,889
$274.9K
Market Conditions
NOI Build-Up for 1,400 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
$37.8K $27.00/SF
− Vacancy
−$2.5K −$1.76/SF
EGI
$35.3K $25.25/SF
− OpEx
−$10.6K −$7.57/SF
NOI
$24.7K $17.67/SF
Area
Mercer County, NJ
Vacancy
6.50%
Lease Rate
$27.00 /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%
$494,800
Cap Rate 7%
$353,429
Cap Rate 9%
$274,889
Alternative Uses
Best Use
Multifamily LT 5
$353.4K
$309.3K – $412.3K
NOI $24,740 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$305.3K
$267.1K – $356.1K
NOI $21,368 @ 7.0% cap · market cap 7.77%
Theoretical Best
Warehouse
$450.4K
$394.1K – $525.5K
NOI $31,530 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
787
Businesses Nearby
Explore this area
Business Placement
Demographics for 08618, NJ
37,544
Population
15,284
Households
2.5
Avg Household Size
34
Median Age
24%
College-Educated
86%
High-School Grad
5.9 sq mi
ZIP Area
6,363
Density / Sq Mi
$48,179
Median Household Income
$33,040
Median Earnings
$1,117
Median Rent
$211,800
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 - Duplex built in 1920 with brick and aluminum siding, window unit cooling, and driveway parking.
Where is this duplex located?
The property is located at 49 ELLSWORTH Avenue Trenton, NJ.
What is the asking price?
The asking price for this property is $274,990.
What are key features of this property?
This property features: 0.0466‑acre lot; 1,400 SF duplex property size; Brick and aluminum siding construction
