Updated 2-Unit
For Sale
$299,999
72 FRANKLIN STREET, Trenton, NJ 08611
An updated vacant upper residence sits above a tenant-occupied lower unit that needs work.
Property Size1,379 SF
Price / SF$217.55
Days on Market8
Property Features for 72 FRANKLIN STREET
General Information
Standard status
Active
Size
1,379 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
in need of TLC
Additional Details
Multifamily Units
2
Amenities
covered wraparound porch
Building Details
Year Built
1900
Buildings
1
Tenancy
Single
Listing Agency:
BHHS Fox & Roach-Mt Laurel
(856) 222-0077
Listed By:
John Anthony Sweeney V · License #2438602
(609) 784-6407
Source:
Cummingsrealtors
Added: Sep 25
Changed: Oct 1
Last Checked: Oct 1 at 10:26AM
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 BHHS Fox & Roach-Mt Laurel
Investment Insights
Based on property information with market context.
This two-unit duplex in Trenton has separate living spaces and a covered wraparound porch. The upper residence is vacant and has updated flooring, kitchen finishes, appliances, and bathroom. The lower residence is occupied by a tenant and requires improvements.
The roof and siding were replaced within the past five years. The property was built in 1900 and is offered in its current condition.
The roof and siding were replaced within the past five years. The property was built in 1900 and is offered in its current condition.
Key Highlights
- Two separate living units, with the upper unit vacant and the lower unit tenant occupied
- Vacant upper residence features updated flooring, kitchen, and bathroom
- Kitchen includes white cabinetry, granite countertops, and stainless‑steel appliances
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
$24,369
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
8.12%
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%
$487,380
$487.4K
Cap Rate 7%
$348,129
$348.1K
Cap Rate 9%
$270,767
$270.8K
Market Conditions
NOI Build-Up for 1,379 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
$37.2K $27.00/SF
− Vacancy
−$2.4K −$1.76/SF
EGI
$34.8K $25.25/SF
− OpEx
−$10.4K −$7.57/SF
NOI
$24.4K $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%
$487,380
Cap Rate 7%
$348,129
Cap Rate 9%
$270,767
Alternative Uses
Best Use
Multifamily LT 5
$348.1K
$304.6K – $406.2K
NOI $24,369 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$300.7K
$263.1K – $350.8K
NOI $21,047 @ 7.0% cap · market cap 7.02%
Theoretical Best
Warehouse
$443.7K
$388.2K – $517.6K
NOI $31,057 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 08611, NJ
31,531
Population
11,638
Households
2.7
Avg Household Size
32
Median Age
16%
College-Educated
70%
High-School Grad
2.9 sq mi
ZIP Area
10,873
Density / Sq Mi
$50,806
Median Household Income
$29,185
Median Earnings
$1,300
Median Rent
$142,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - An updated vacant upper residence sits above a tenant-occupied lower unit that needs work.
Where is this duplex located?
The property is located at 72 FRANKLIN STREET Trenton, NJ.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Two separate living units, with the upper unit vacant and the lower unit tenant occupied; Vacant upper residence features updated flooring, kitchen, and bathroom; Kitchen includes white cabinetry, granite countertops, and stainless‑steel appliances
