Duplex with Detached
For Sale
$518,700
5 Locust St, Haskell, NJ 07420
Multi-Family, 2-Two Story, Wanaque Boro, NJ
Property Size1,736 SF
Lot Size0.35 Acres
Price / SF$298.79
Days on Market130
Property Features for 5 Locust St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 2
Parking
4
Subdivision
Haskell
Lot features
Level Lot
Elementary school
HASKELL
Middle school
HASKELL
High school
LAKELAND
Directions
Ringwood Ave To Maple Ave, to Locust
Standard status
Active
Size
1,736 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9495
Utilities
Water source
Public
Amenities
wraparound porch
full walk-out unfinished basement
large detached garage
Building Details
Floors in Building
2
Number of units
2
Roof type
Composition
Architectural style
Other
Listing Agency:
C-21 GEMINI, LLC. · Century 21 Real Estate
(973) 696-1111
Listed By:
EMILIO BALDINO
(973) 890-0500
Added: Apr 14
Changed: Aug 19
Last Checked: Aug 21 at 4:06PM
MLS# 4020563
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 duplex offers two separate units in a two-family home setting, with strong utility for an owner-occupant or an investor. The property includes a wraparound porch, a full walk-out unfinished basement, and a large detached garage. Driveways on both sides provide ample off-street parking, and each unit has a separate entrance.
The first-floor unit features two bedrooms, an eat-in kitchen, and a living room. The second-floor unit includes one bedroom, a living room, and a kitchen. The home sits at the end of a quiet street on a flat, oversized lot of approximately 190x80, totaling 0.35 acres, with a composition roof and public water service. The property is listed as having 1,736 square feet.
Built for day-to-day flexibility, the layout supports independent living between floors while still maintaining one combined property footprint, including shared exterior site improvements like the detached garage and porch.
The first-floor unit features two bedrooms, an eat-in kitchen, and a living room. The second-floor unit includes one bedroom, a living room, and a kitchen. The home sits at the end of a quiet street on a flat, oversized lot of approximately 190x80, totaling 0.35 acres, with a composition roof and public water service. The property is listed as having 1,736 square feet.
Built for day-to-day flexibility, the layout supports independent living between floors while still maintaining one combined property footprint, including shared exterior site improvements like the detached garage and porch.
Key Highlights
- Detached garage plus driveways on both sides for ample off‑street parking
- Full walk‑out unfinished basement
- Separate entrances for each unit
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
$29,054
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
5.60%
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%
$581,080
$581.1K
Cap Rate 7%
$415,057
$415.1K
Cap Rate 9%
$322,822
$322.8K
Market Conditions
NOI Build-Up for 1,736 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
$44.4K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$41.5K $23.91/SF
− OpEx
−$12.5K −$7.17/SF
NOI
$29.1K $16.74/SF
Area
Passaic 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%
$581,080
Cap Rate 7%
$415,057
Cap Rate 9%
$322,822
Alternative Uses
Best Use
Multifamily LT 5
$415.1K
$363.2K – $484.2K
NOI $29,054 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$381.4K
$333.7K – $444.9K
NOI $26,696 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$453.3K
$396.6K – $528.9K
NOI $31,731 @ 7.0% cap · market cap 6.12%
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
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 07420, NJ
5,053
Population
1,873
Households
2.7
Avg Household Size
42
Median Age
33%
College-Educated
92%
High-School Grad
2.4 sq mi
ZIP Area
2,105
Density / Sq Mi
$106,915
Median Household Income
$49,313
Median Earnings
$1,788
Median Rent
$344,700
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 with separate entrances, off-street parking, and public utilities on a flat lot in Passaic County, NJ.
Where is this duplex located?
The property is located at 5 Locust St Haskell, NJ.
What is the asking price?
The asking price for this property is $518,700.
What are key features of this property?
This property features: Detached garage plus driveways on both sides for ample off‑street parking; Full walk‑out unfinished basement; Separate entrances for each unit
