Duplex with
New
For Sale
$525,000
60 Naples Ave, Belleville, NJ 07109
Multi-Family, Under/Over, Belleville Twp., NJ
Property Size1,856 SF
Lot Size0.06 Acres
Price / SF$282.87
Days on Market5
Property Features for 60 Naples Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1
Patio and Porch features
Deck
Exterior features
Deck, Storage Shed
Directions
google maps
Standard status
Active
Size
1,856 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10496
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1922
Number of units
2
Roof type
Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
STAR REAL ESTATE AGENCY
(201) 997-7900
Listed By:
RACHEL DEANNA MILITO · License #299046
(201) 321-3220
Added: Sep 21
Last Checked: Sep 25 at 5:06AM
MLS# 4054193
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 1922 duplex contains 1,856 square feet across two residential levels. The lower unit includes one bedroom, a living room, eat-in kitchen, bathroom, and rear foyer with access to the back door. The upper unit offers two bedrooms, a living room, eat-in kitchen, and bathroom. A deck, patio, storage shed, and yard provide outdoor and storage features.
The property sits in Belleville Township’s Silver Lake section, with shopping, transportation, schools, parks, and a hospital identified nearby. Public water and public sewer serve the home, and heating is provided by baseboard and hot water systems. Tenants pay gas and electric, while the owner pays sewer and water.
The property sits in Belleville Township’s Silver Lake section, with shopping, transportation, schools, parks, and a hospital identified nearby. Public water and public sewer serve the home, and heating is provided by baseboard and hot water systems. Tenants pay gas and electric, while the owner pays sewer and water.
Key Highlights
- Two‑family duplex with 1,856 square feet
- Lower unit has 1 bedroom; upper unit has 2 bedrooms
- Built in 1922 with baseboard and hot water heating
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
$31,062
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
5.92%
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%
$621,240
$621.2K
Cap Rate 7%
$443,743
$443.7K
Cap Rate 9%
$345,133
$345.1K
Market Conditions
NOI Build-Up for 1,856 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
$47.4K $25.56/SF
− Vacancy
−$3.1K −$1.65/SF
EGI
$44.4K $23.91/SF
− OpEx
−$13.3K −$7.17/SF
NOI
$31.1K $16.74/SF
Area
Essex 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%
$621,240
Cap Rate 7%
$443,743
Cap Rate 9%
$345,133
Alternative Uses
Best Use
Multifamily LT 5
$443.7K
$388.3K – $517.7K
NOI $31,062 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$407.7K
$356.8K – $475.7K
NOI $28,542 @ 7.0% cap · market cap 5.44%
Theoretical Best
Office A
$484.6K
$424.1K – $565.4K
NOI $33,925 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,557
Businesses Nearby
Explore this area
Business Placement
Demographics for 07109, NJ
38,078
Population
15,045
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
3.3 sq mi
ZIP Area
11,539
Density / Sq Mi
$90,164
Median Household Income
$47,446
Median Earnings
$1,596
Median Rent
$405,500
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 - Two residential units provide one- and two-bedroom layouts with shared outdoor space and tenant-paid gas and electric.
Where is this duplex located?
The property is located at 60 Naples Ave Belleville, NJ.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑family duplex with 1,856 square feet; Lower unit has 1 bedroom; upper unit has 2 bedrooms; Built in 1922 with baseboard and hot water heating
