Duplex with Finished
For Sale
$949,900
68 Tenafly Road, Englewood, NJ 07631
Two-level residential income property with additional finished attic rooms, outdoor space, and recent improvements.
Property Size5,400 SF
Lot Size0.40 Acres
Price / SF$175.91
Days on Market8
Property Features for 68 Tenafly Road
General Information
Standard status
Active
Size
5,400 SF
Lot size
0.40 Acres
Property subtype
MULTI_FAMILY
Occupancy
78%
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Additional Details
Furnished
Yes
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$12,118
Building Details
Year Built
1925
Year Renovated
2023
Buildings
1
Listing Agency:
Casa Real Property Group LLC
Listed By:
Nancy Pavic · License #242229
(973) 684-3088
Source:
Tarvinrealtors
Added: Sep 16
Changed: Sep 23
Last Checked: Sep 22 at 8:31PM
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 Casa Real Property Group LLC
Investment Insights
Based on property information with market context.
This duplex occupies an oversized 50-by-171-foot lot and provides distinct living areas across two primary units. The first-floor residence includes 2 bedrooms, 2 full bathrooms, living space, and a wrap-around porch. The second-floor unit contains 3 bedrooms. A fully finished attic adds 3 rooms and a full bathroom; the attic renovation was completed in 2025.
Exterior work completed in 2021 includes a newer driveway, fencing, and professionally built garden walls. The property is within walking distance of Downtown Englewood, where restaurants, shopping, entertainment, and theater are located. Public transportation and major roadways are nearby, with New York City approximately 20 minutes away.
Exterior work completed in 2021 includes a newer driveway, fencing, and professionally built garden walls. The property is within walking distance of Downtown Englewood, where restaurants, shopping, entertainment, and theater are located. Public transportation and major roadways are nearby, with New York City approximately 20 minutes away.
Key Highlights
- Duplex on an oversized 50x171 lot
- First‑floor unit includes 2 bedrooms and 2 full bathrooms
- Second‑floor unit offers 3 bedrooms
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
$83,041
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
8.74%
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%
$1,660,820
$1.7M
Cap Rate 7%
$1,186,300
$1.2M
Cap Rate 9%
$922,678
$922.7K
Market Conditions
NOI Build-Up for 5,400 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
$162.0K $30.00/SF
− Vacancy
−$11.0K −$2.04/SF
EGI
$151.0K $27.96/SF
− OpEx
−$67.9K −$12.58/SF
NOI
$83.0K $15.38/SF
Area
Bergen County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,660,820
Cap Rate 7%
$1,186,300
Cap Rate 9%
$922,678
Alternative Uses
Best Use
Multifamily LT 5
$1.29M
$1.13M – $1.51M
NOI $90,375 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.38M
NOI $83,041 @ 7.0% cap · market cap 8.74%
Theoretical Best
Office A
$1.41M
$1.23M – $1.65M
NOI $98,703 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
78%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,153
Businesses Nearby
Explore this area
Business Placement
Demographics for 07631, NJ
29,308
Population
12,047
Households
2.4
Avg Household Size
40
Median Age
46%
College-Educated
90%
High-School Grad
4.9 sq mi
ZIP Area
5,981
Density / Sq Mi
$101,398
Median Household Income
$53,056
Median Earnings
$1,925
Median Rent
$497,500
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-level residential income property with additional finished attic rooms, outdoor space, and recent improvements.
Where is this duplex located?
The property is located at 68 Tenafly Road Englewood, NJ.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Duplex on an oversized 50x171 lot; First‑floor unit includes 2 bedrooms and 2 full bathrooms; Second‑floor unit offers 3 bedrooms
