$10,000
closing credit¹
774 S Main St Phillipsburg Town, NJ 08865
Property details
About 774 S Main St
$1.05M property is on sale for only $886,900! Fantastic investment opportunity in the heart of Phillipsburg, NJ! This legally recognized 5-unit property offers exceptional value with an impressive 8% cap rate. Situated on a spacious lot on S Main St, the property consists of two buildings on one tax record: one with 3 units and the other with 2 units. All units are currently 100% occupied, with some tenants on Section 8, providing steady rental income.One standout feature is the recently renovated unit, which boasts 4 legal bedrooms and a finished attic that can be converted into a 5th bedroom, further enhancing the property's value. This building includes (1) 1bed, (2) 2bed, (1) 3 bed, (1) 4bed units. Tenants cover their own utilities, including water, making for a hassle-free investment. Monthly gross income is $7825, annual gross income is $93,900. Annual property taxes are $13,200 and property insurance is $5500. The property benefits from affordable real estate taxes and has recently been appraised at $1.05M as-is. With potential to increase rents to match market rates, this cash-flowing asset is an ideal opportunity for savvy real estate investors. Don't miss out on this unique chance to own a multifamily gem in a growing area!
Highlights
Summary
- MLS Number: 3922112
- Office Name: REAL
- Office Phone: (855) 450-0442
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Last updated on: 2/3/2025, 11:20:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$886,900
774 S Main St
$10,000
closing credit¹
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0.5% sale price²
Price information
Property sales
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Tax history
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Nearby schools
4
Phillipsburg Elementary School
Public District 3-5
0.6 mi
•525 Warren St
3
Easton Arts Academy Elementary Charter School
Public Charter KG-5
1.9 mi
•30 N 4th St
6
Lopatcong Elementary School
Public District PK-4
1.9 mi
•263 Route 57
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $70,486. The majority of Phillipsburg Town, NJ residents have income between $35k-100k annually. The most common type of family is married, no kids. Typical level of education for residents in this area is high school diploma.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Soccer
Pro Boxing
College Basketball
Where do the neighbors shop?
Burlington
Family Dollar
Dillards
Where do the neighbors go to eat?
Wingstop
White Castle
Logan's Roadhouse
What do the neighbors drive?
Nissan
Chevrolet
Hyundai
What do the neighbors listen to?
Christian Adult Contemporary
Rock
Adult Hits
This home is located at 774 S Main St in Phillipsburg Town, NJ and zip code 08865. Features: 12 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since September 10, 2024 and is currently priced at $886,900.
In January 2025 more than 6 listings in Phillipsburg Town, NJ were sold above the asking price. During the same period more than 2 listings were sold at asking price, while more than 6 were sold below. Between December and January 2025, Phillipsburg Town, NJ real estate market has seen decrease in the number of listings by 4%. Listings spent 6 days on the market in January 2025, and had a median list price of $320,000 during the same period.