Building Details

Year Built 1980

Listing Agency: HOMECOIN.COM

Listed By: JONATHAN MINERICK · License #01523060 Show Phone

Source: Luminancerealty

Added: Nov 28, 2025 Changed: Sep 12 Last Checked: Oct 12 at 9:12PM

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Investment Insights

Based on property information with market context.

This large, modern 15-room house is located in a quiet, residential town. Built in 1980, the property is a legal two-family home, featuring two apartments with six rooms each, plus a three-room apartment, and a two-car garage. The layout offers the flexibility to live in one unit and lease the other. The property is conveniently located for commuting to NYC, being a 10-minute drive to the George Washington Bridge and a 3-minute drive to the train station, with buses located two blocks away. Situated on streets with little traffic, the property is in a quiet neighborhood, with police quarters one block away and a school a few blocks away. The main and top floors each feature three large bedrooms, two bathrooms, a living room, a dining room, a large eat-in kitchen, and a deck. The bottom floor, which is above ground, includes one bedroom, a living room, a kitchen, and one bathroom with a separate entrance. There is a laundry room with space for two washers and two dryers. The house has new windows throughout and is not in a flood zone. The units are vacant and have separate electric and gas bills.

Key Highlights

• Legal 2‑family home offering flexibility to live in one unit and lease the other.
• Easy commute to NYC: 10‑minute drive to GWB, 3‑minute drive to train station, 2 blocks to buses.
• Three separate units: 6+6+3 rooms apartment layout.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,315

Cap Rate

4.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,086,300 $1.1M

Cap Rate 7%

$775,929 $775.9K

Cap Rate 9%

$603,500 $603.5K

Market Conditions

NOI Build-Up for 3,532 SF

Gross rent

$106.0K $30.00/SF

− Vacancy

−$7.2K −$2.04/SF

EGI

$98.8K $27.96/SF

− OpEx

−$44.4K −$12.58/SF

NOI

$54.3K $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 Rate 5%

$1,086,300

Cap Rate 7%

$775,929

Cap Rate 9%

$603,500

Alternative Uses

Best Use

Apartment 5plus

$775.9K

$678.9K – $905.3K (±1% cap)

NOI $54,315 @ 7.0% cap · market cap 4.18%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$922.3K

$807.0K – $1.08M (±1% cap)

NOI $64,559 @ 7.0% cap · market cap 4.97%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Dental Office Veterinary Clinic Tattoo & Piercing Shop Tanning Salon (Bike/Boat/Book/etc) Store Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,169

Businesses Nearby

Explore this area Business Placement

Demographics for 07606, NJ

2,701

Population

970

Households

2.8

Avg Household Size

39

Median Age

29%

College-Educated

88%

High-School Grad

0.7 sq mi

ZIP Area

3,859

Density / Sq Mi

$82,750

Median Household Income

$40,871

Median Earnings

$1,906

Median Rent

$514,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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What type of property is this? Where is this apartment buildings located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Apartment building - Large, modern 15-room house in a quiet residential neighborhood.

Where is this apartment building located?

The property is located at 85 Grove St South Hackensack, NJ.

What is the asking price?

The asking price for this property is $1,299,000.

What are key features of this property?

This property features: Legal 2‑family home offering flexibility to live in one unit and lease the other.; Easy commute to NYC: **10‑minute drive to GWB**, 3‑minute drive to train station, 2 blocks to buses.; Three separate units: 6+6+3 rooms apartment layout.