Two-Unit Residential Income
659 S 2nd Street Plainfield, NJ 07060
659 S 2nd Street, Plainfield, NJ, 07060
$599,900
For Sale
$599,900
Two-unit duplex with a finished basement, back-lot parking, and recent updates including a 3-year-old roof.
Property Size1,768 SF
Price / SF$339.31
Days on Market103
Property Features for 659 S 2nd Street
General Information
- Standard status
- Active
- Size
- 1,768 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1895
Listing agency
Coldwell Banker Realty
Listed by
Ying Gautreau
(833) 740-1234
Source
Actionplusrealty
Added: Apr 11 Updated: Jul 22 at 2:32AM Checked: Jul 22 at 2:32AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This two-unit duplex includes finished basement space and a parking lot located in the back of the house. The property has been newly cleaned and painted, and key mechanical and kitchen items have been updated, including a newer stove and refrigerator. There are also two newer hot water heaters.
The address is 659 S 2nd Street in Plainfield, NJ 07060, with the train station only a few blocks away. The property is described as ready for a new owner and ready for a new tenant, with easy showings available.
Additional reported improvements include a roof that is approximately three years old.
The address is 659 S 2nd Street in Plainfield, NJ 07060, with the train station only a few blocks away. The property is described as ready for a new owner and ready for a new tenant, with easy showings available.
Additional reported improvements include a roof that is approximately three years old.
Key Highlights
- Two‑unit duplex built in 1895 with a finished basement
- Back‑lot parking available
- Recent updates include a 3‑year‑old roof
Local Financial Insights For Multifamily LT 5
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 | $38.2k | $21.60 |
| − Vacancy | −$2.1k | −$1.21 |
| EGI | $36.0k | $20.39 |
| − OpEx | −$10.8k | −$6.12 |
| NOI | $25.2k | $14.27 |
1,768 SF · lease $21.60/SF/yr · vacancy 5.61% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$360.5K
$315.4K – $420.5K
NOI $25,232 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$313.7K
$274.5K – $366.0K
NOI $21,961 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$461.7K
$404.0K – $538.6K
NOI $32,316 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit duplex with a finished basement, back-lot parking, and recent updates including a 3-year-old roof.
Where is this duplex located?
The property is located at 659 S 2nd Street Plainfield, NJ.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1895 with a finished basement; Back‑lot parking available; Recent updates include a 3‑year‑old roof
