Duplex with Detached
New
For Sale
$899,000
9 North Street, Madison, NJ 07940
Residential Income, Madison, NJ
Property Size2,412 SF
Lot Size0.18 Acres
Price / SF$372.72
Days on Market5
Property Features for 9 North Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4
Zoning description
Buyer Should Verify
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Dining Room, Bathroom 1
Parking features
Garage
Interior features
Unit 1(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Living Room)
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
Lot features
Near Shopping, Level
Elementary school district
Madison Borough School Distric
Middle school district
Madison Borough School Distric
High school district
Madison Borough School Distric
Directions
Park Ave to North Street
Standard status
Active
APN
1701108000000008
Size
2,412 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
9323
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Radiant, Hot Water(Heating)
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
back deck
private backyard
laundry area
hardwood floors
Building Details
Year built
1920
Floors in Building
3
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
KELLER WILLIAMS METROPOLITAN · Keller Williams Realty
(973) 539-1120
Listed By:
Peter Lorenzo · License #291703
(973) 255-9337
Added: Oct 28
Changed: Nov 1
Last Checked: Nov 1 at 10:06PM
MLS# 2707160R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1920-built duplex contains 2,412 square feet across two residences, each arranged with two bedrooms, one bathroom, a kitchen, dining room, and living room. The second-floor residence includes finished third-floor space, while the first-floor home has an updated kitchen and access to a rear deck. A full basement provides laundry and storage, and the property also includes a detached two-car garage and a private backyard.
The 0.18-acre property is near Madison’s downtown, NJ Transit train station, restaurants, shops, and parks. It is zoned R-4 and served by public water and sewer.
The 0.18-acre property is near Madison’s downtown, NJ Transit train station, restaurants, shops, and parks. It is zoned R-4 and served by public water and sewer.
Key Highlights
- Two units, each with 2 bedrooms and 1 bath
- 2,412 square feet on a 0.18‑acre lot
- Finished third‑floor space in the second‑floor unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,368
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,360
$807.4K
Cap Rate 7%
$576,686
$576.7K
Cap Rate 9%
$448,533
$448.5K
Market Conditions
NOI Build-Up for 2,412 SF
Gross rent
$61.7K $25.56/SF
− Vacancy
−$4.0K −$1.65/SF
EGI
$57.7K $23.91/SF
− OpEx
−$17.3K −$7.17/SF
NOI
$40.4K $16.74/SF
Area
Morris County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,360
Cap Rate 7%
$576,686
Cap Rate 9%
$448,533
Alternative Uses
Best Use
Multifamily LT 5
$576.7K
$504.6K – $672.8K
NOI $40,368 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$529.9K
$463.7K – $618.2K
NOI $37,092 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$629.8K
$551.1K – $734.8K
NOI $44,088 @ 7.0% cap · market cap 4.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
625
Businesses Nearby
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Business Placement
Demographics for 07940, NJ
18,403
Population
5,733
Households
3.2
Avg Household Size
34
Median Age
71%
College-Educated
97%
High-School Grad
4.9 sq mi
ZIP Area
3,756
Density / Sq Mi
$168,520
Median Household Income
$53,352
Median Earnings
$2,248
Median Rent
$883,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured homes provide two-bedroom layouts, with additional finished space on the upper level of the second unit.
Where is this duplex located?
The property is located at 9 North Street Madison, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bath; 2,412 square feet on a 0.18‑acre lot; Finished third‑floor space in the second‑floor unit
