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41-45 Colby Place Phillipsburg, NJ $ 625,000
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$ 625,000 Get more info
41-45 Colby Place
$ 625,000
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Share Save

41-45 Colby Place

Phillipsburg, NJ, 08865
$ 625,000
Bedrooms8 Baths3.0 Sq 2,622

Monthly Estimate*

$ 3,899

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Multi-Family Home for sale in Phillipsburg, NJ

for $625,000 with 8 bedrooms and 3 full baths. This 2,622 square foot home was built in 1900 on a lot size of 0.17.

Investor Alert! This fully rented Triplex Multi-Family in the heart of Phillipsburg offers strong returns and turnkey stability. Renovated in 2024, 41-43-45 Colby Place features 2,622 square feet of updated living space across three spacious units. Set on a quiet, private one-way street, this turnkey property blends classic charm with modern convenience. Strong financials include a 10.11% Cap Rate, 10.20 Gross Rent Multiplier, and 1.5604 Debt Service Coverage Ratio making it a great candidate for a DSCR loan. Each unit showcases fresh upgrades like luxury vinyl plank flooring, new cabinetry and countertops, contemporary finishes, and split-system heating and cooling for efficient year-round comfort. The upper-level finished loft adds versatile bonus space perfect for storage, a home office, or additional living area. Fully occupied with reliable tenants, this property is generating income from day one with minimal maintenance required. Tenants appreciate the bright interiors, smart layouts, and the peaceful neighborhood setting close to schools, shops, dining, and commuter routes. Whether you're a first-time investor or expanding your portfolio, this income-producing triplex offers the ideal combination of location, performance, and potential. With strong market appeal and updated systems already in place, 41-45 Colby Place is a smart buy in a growing rental market. Ask your realtor for the Rent Roll / Proforma spreadsheet and walk-through video today.

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Multi-Family Pending

Price

$ 625,000

Bedrooms

8

Full Bath

3

Property Type

Multi-Family

Taxes

$ 8,181

Style

3-Three Story, Triplex

Lot Size

0.17

Year Built

1900

Town/City

Phillipsburg

County/Region

Warren

MLS | Web ID

3992931
Features
Interior
Interior Amenities Carbon Monoxide Detector High Ceilings See Remarks Smoke Detector
Basement Full Unfinished
Unit 1 Baths Total 1.0
Unit 1 Beds Total 4
Unit 2 Baths Total 1.0
Unit 2 Beds Total 2
Unit 3 Baths Total 1.0
Unit 3 Beds Total 2
Fuel Type Gas-Natural
Half Baths 0
Total Bedrooms 8
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General
Sewer Public Sewer
Heating Baseboard - Electric Baseboard - Hotwater Floor/Wall Heater See Remarks
Cooling See Remarks Wall A/C Unit(s) Window A/C(s)
Utilities Electric Gas-Natural
Possession POT
Roof Asphalt Shingle
Water Heater From Furnace Gas
Zoning Residential
Architectural Style 3-Three Story Triplex
Year Built 1900
Garage On-Street Parking
Township Phillipsburg Town
Tax Year 2025
Gross Income 9999
County Warren
Net Operating Income 9999
Operating Expense 9999
Total Rooms 20
Full Baths 3
Status Under Contract
Directions RT 22 turn South onto Roseberry St Right onto Heckman St Right onto Railroad Ave Left onto Colby Place (1-Way) the triplex will be on the right.
High School PHILIPSBRG
Open Parking Spaces 3
Number Of Units Total 3
Elementary School PHILIPSBRG
Tax Annual Amount 8181
Home Warranty Y/N No
Middle/Junior High School PHILIPSBRG
Drive On-Street Parking See Remarks
Standard Status Under Contract
Tax Assessed Value 194000
Town # 3019
Tax Lot 10
Farm Assessment No
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Exterior
Exterior Amenities Curbs Sidewalk Wood Fence
Lot Features Level Lot
Water Source Public Water
Exterior Description Vinyl Siding
Building Area Total 2622
Lot Dimensions 0.167
Lot Size Acres 0.17
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* Excluded Features
List By
RICHARD SHAFER

Listing Agent

Keller Williams Real Estate

Broker

Richard@RichKatHomes.com

Email

Affordability Calculator

$4,581
Per Month
85%
15%
0%
Monthly Principal & Interest
$3,899
Monthly Property Taxes
$682
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
288971 Elementary School
291393 Middle School
Philipsbrg High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
10/16/2025$625,000 Listed Price

Map

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41-45 Colby Place, Phillipsburg, NJ, 08865 is a Multi-Family Home for sale at $625,000 with 2,622 sqft and a lot size of 0.17. 41-45 Colby Place has 8 bedrooms, 3.0 baths, and was built in 1900. The property's zip code is 08865 which is in Phillipsburg, NJ

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