Two-Unit Residential Income
79 MODEL Avenue Hopewell, NJ 08525
For Sale
$575,000
MULTI_FAMILY - HOPEWELL, NJ
Property Size2,191 SF
Lot Size0.31 Acres
Price / SF$262.44
Days on Market48
Property Features for 79 MODEL Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Dining Room
Parking
5
Parking features
On Street, Driveway
Interior features
2nd Kitchen, Attic, Bathroom - Tub Shower, Ceiling Fan(s), Entry Level Bedroom, Kitchen - Eat-In, Formal/Separate Dining Room, Wood Floors, Recessed Lighting
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Oven/Range - Gas, Washer
Standard status
Active
Size
2,191 SF
Lot size
0.31 Acres
Taxes and HOA fees
Tax Annual Amount
15349
Utilities
Heating system
Forced Air
Cooling system
Attic Fan, Central Air
Building Details
Year built
1900
Number of units
1
Building materials
Frame, Metal Siding
Listing Agency:
RE/MAX 1st Advantage
(732) 382-0200
Listed By:
Robert Dekanski · License #232901
(732) 827-5344
Added: Jun 11
Changed: Jul 27
Last Checked: Jul 28 at 5:06AM
MLS# NJME2078878
Copyright © 2026 Bright MLS. 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 two-family residential income property in Hopewell includes two separate units with multiple living areas and functional layouts. Unit 1 offers a large living room with hardwood flooring, an elegant dining area, and a galley efficiency kitchen with cabinet storage. The unit also features a family room with crown molding and a wood-burning fireplace, plus a rear enclosed sun porch. A full bath and two bedrooms complete the first-floor unit. Unit 2 includes a kitchen, living room, dining area, and an additional bedroom, along with a bedroom served by an attached full bath and access to a walk-up attic. The walk-up attic provides additional storage. Outside, the property includes a patio area, a shed, and a fire pit, along with driveway parking.
The home sits on an oversized lot of 0.3111 acres. The listing notes a commuter location with access to public transportation and major roads, and proximity to parks, schools, shopping, and dining.
For buyers or operators, the configuration supports traditional owner-occupancy or renting one or both units, with the attic offering a potential space to store or expand depending on future plans. Driveway parking and the backyard amenities add practical value for day-to-day use.
The home sits on an oversized lot of 0.3111 acres. The listing notes a commuter location with access to public transportation and major roads, and proximity to parks, schools, shopping, and dining.
For buyers or operators, the configuration supports traditional owner-occupancy or renting one or both units, with the attic offering a potential space to store or expand depending on future plans. Driveway parking and the backyard amenities add practical value for day-to-day use.
Key Highlights
- Two‑family home with attic access in Unit 2 and a walk‑up attic offering additional storage and potential to finish
- Unit 1 features a large living room with wood floors, an eat‑in kitchen, a formal/separate dining room, and a wood‑burning fireplace
- Unit 2 includes a bedroom with an attached full bath, plus kitchen, living, and dining areas
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 | $59.2k | $27.00 |
| − Vacancy | −$3.8k | −$1.76 |
| EGI | $55.3k | $25.25 |
| − OpEx | −$16.6k | −$7.57 |
| NOI | $38.7k | $17.67 |
2,191 SF · lease $27.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$553.1K
$484.0K – $645.3K
NOI $38,718 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$477.7K
$418.0K – $557.3K
NOI $33,440 @ 7.0% cap · market cap 5.82%
Theoretical Best
Warehouse
$704.9K
$616.8K – $822.4K
NOI $49,345 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two self-contained units with driveway parking and backyard space offer flexible living or rental income potential.
Where is this duplex located?
The property is located at 79 MODEL Avenue Hopewell, NJ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑family home with attic access in Unit 2 and a walk‑up attic offering additional storage and potential to finish; Unit 1 features a large living room with wood floors, an eat‑in kitchen, a formal/separate dining room, and a wood‑burning fireplace; Unit 2 includes a bedroom with an attached full bath, plus kitchen, living, and dining areas
