Property Description

This is one of two, nearly identical duplexes for sale across the street from each other in Hamilton Township. The other is 229 Emanuel St. They are available individually or as a package for real estate investors or live-in landlords. We will provide serious buyers detailed descriptions of each property and a financial analysis. n228 Emanuel St has two, one-bed apartments with single baths and detached garage for extra income opportunity. It has separate gas boilers and water heaters and separate electric meters. Tenants pay gas and electric. The upstairs apartment includes a finished attic. The downstairs apartment has a full basement. Both apartments have double-pane windows. nIt is a turnkey property that promises nearly maintenance-free operation and good income, high appreciation and, of course, depreciation benefits. nEmanuel Street is very short and is really its own neighborhood. Properties are well-maintained and a number of owners have updated theirs.nThe apartments are both rehabbed and in excellent condition. The basement is partially finished for extra living area. The renovated kitchens feature granite countertops and the bathrooms include ceramic tile. nThe upstairs apartment has new carpet and laminate flooring and was painted a little more than a year ago. nThe downstairs apartment has refinished wood floors and has been freshly painted. nThe duplex is fully tenanted. Monthly rents are $1194 and $1350 for 228 Emanuel for a yearly total of $30,528. All rents are paid automatically through an online app. nMonthly maintenance is low since the apartments have been well maintained. Tenants are on yearly leases. nAn independent appraisal of 228 Emanuel projected a nine-percent increase in value during 2021 across the entire neighborhood due to two factors: 1. Low inventory and a marketing time of less than 60 days. nThe appraisal report specifically said: n“THE MEDIAN PRICE OVER THE PAST 90 DAYS ($196,000) HAS INCREASED FROM THE SAME PERIOD OF 2019 ($180,000), SHOWING A 9% INCREASE.” It also reported that: “CURRENT MARKET CONDITIONS APPEAR TO BE STRONG; THUS, MARKETING TIME IS ESTIMATED TO BE UNDER 60 DAYS.”

Features
: Baseboard - Hot Water
: Wall unit
: Asbestos Shingle
: Concrete driveway
Y
: Six Panel, Storm
: Frame
: Gutter System
: Hardwood, Laminated
1
N
: Other
: Double Pane, Double Hung
: Natural gas
: Natural gas
: Tenants' Belongings, Movie Theater Seats
: Washer/dryer, All Appliances, Kitchen Refrigerator
N
: Water heater, Refrigerator, Dryer, Stove, Washer
: Cable Tv
Address Map
Cedar Lane to Emanuel Street on right halfway down block. Look for orange curtains on enclosed porch.
MLS Addon
Annually
Annually
HAMILTON TOWNSHIP
1,623 Sqft
: Excellent
: Detached
1,848 Sqft
$5,917
2020
RESID
: Public Sewer
: Public
N
$0

Multi-family For Sale

228 EMANUEL STREET, TRENTON, New Jersey 08610

1,848 Sqft
$240,000
Listing ID #NJME2003934
Basic Details
Property Type : Multi-family
Status : PENDING
Listing ID : NJME2003934
Price : $240,000
Sqft : 1,848 Sqft
Year Built : 1935
Lot Area : 0.08 Acre
Subdivision Name : NONE AVAILABLE
Price Per SQFT : $148
Lot SQFT : 3,484.80 Sqft
Ownership Interest : Fee Simple
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