Two-Unit Duplex with
For Sale
$399,000
917 Main Street, Newton, NJ 07860
Residential income property with separate apartments, basement access, attic storage, and an oversized detached garage.
Property Size1,000 SF
Price / SF$399
Days on Market214
Property Features for 917 Main Street
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Multi Family / 2-Two Story
Net Operating Income
$41,400
Taxes and HOA fees
Annual Taxes
$7,814
Amenities
Yes
Asphalt Shingle
Carbon Monoxide Detector, Smoke Detector
Bilco-Style Door, Unfinished
Open Porch(es)
Wood
Building Details
Year Built
1935
Listing Agency:
BHGRE GREEN TEAM
(973) 814-7344
Listed By:
LILYA MOROSES · License #292116
(973) 814-7344
Source:
Compass
Added: Jan 29
Changed: Aug 30
Last Checked: Aug 30 at 9:08PM
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 BHGRE GREEN TEAM
Investment Insights
Based on property information with market context.
This two-unit duplex at 917 Main Street includes a pair of two-bedroom, one-bath apartments. The lower residence connects to the basement and includes features that may accommodate storefront or business use. The upper residence has access to a walk-up attic, while the property also offers an open porch and wood exterior.
An oversized garage adds vehicle and storage capacity and includes a loft. Additional site features include parking, a septic system installed four years ago, and a water softening system installed two years ago. The first-floor apartment has new flooring, and the property has been freshly painted. Built in 1935, the property is located in Newton, New Jersey.
An oversized garage adds vehicle and storage capacity and includes a loft. Additional site features include parking, a septic system installed four years ago, and a water softening system installed two years ago. The first-floor apartment has new flooring, and the property has been freshly painted. Built in 1935, the property is located in Newton, New Jersey.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bath
- Lower unit includes basement access and may accommodate storefront or business use
- Upper unit has a walk‑up attic
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
$16,736
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
4.19%
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%
$334,720
$334.7K
Cap Rate 7%
$239,086
$239.1K
Cap Rate 9%
$185,956
$186.0K
Market Conditions
NOI Build-Up for 1,000 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
$25.6K $25.56/SF
− Vacancy
−$1.7K −$1.65/SF
EGI
$23.9K $23.91/SF
− OpEx
−$7.2K −$7.17/SF
NOI
$16.7K $16.74/SF
Area
Sussex 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 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%
$334,720
Cap Rate 7%
$239,086
Cap Rate 9%
$185,956
Alternative Uses
Best Use
Multifamily LT 5
$239.1K
$209.2K – $278.9K
NOI $16,736 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$219.7K
$192.2K – $256.3K
NOI $15,378 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$261.1K
$228.5K – $304.6K
NOI $18,278 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 07860, NJ
25,704
Population
11,473
Households
2.2
Avg Household Size
46
Median Age
40%
College-Educated
95%
High-School Grad
100.2 sq mi
ZIP Area
257
Density / Sq Mi
$104,113
Median Household Income
$53,509
Median Earnings
$1,437
Median Rent
$336,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Residential income property with separate apartments, basement access, attic storage, and an oversized detached garage.
Where is this duplex located?
The property is located at 917 Main Street Newton, NJ.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bath; Lower unit includes basement access and may accommodate storefront or business use; Upper unit has a walk‑up attic
