481 Hamilton St
Franklin Twp, NJ, 08873 $ 688,000
Bedrooms6 Baths3.0 Sq 1,440 Monthly Estimate*
$ 4,344
for $688,000 with 6 bedrooms and 3 full baths. This 1,440 square foot home was built in 1950 on a lot size of 0.08.
481 Hamilton Street (Block 194, Lot 129) presents an exceptional value-add opportunity in Franklin Township's High-Business District (HBD) zone. Featuring a versatile multi-unit residential configuration, verified by Township as a legal use of pre-existing non-conforming 2-family. This property is ideally suited for investors, contractors, or buyers looking to maximize income potential. Situated on a high-visibility corridor close to local shopping, public transportation, and major commuter routes into New Brunswick, this property offers incredible upside. Property is being sold in 'as-is' condition. Bring your imagination and vision to unlock the full potential of this prime Somerset location! This well-maintained 2 family home offering the perfect blend of flexibility and income potential. The home features two bedroom, 1 full bath unit on lower level, and 2+2 bedrooms , 2 full bath room on top level. Driveway parking with large backyard. Perfect for a new owner to move right in while collecting rent from the other unit, or easily leased for additional cash flow. Separate gas and electric meters, tenants pay all utilities, includes heat, electricity, water, sewer, trash etc. Low taxes.A potential 7.3%+ cap rate
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FeaturesInteriorInterior Amenities Carbon Monoxide Detector Fire Extinguisher Smoke Detector Wood Floors
Basement Full Unfinished
Unit 1 Baths Total 1.0
Unit 1 Beds Total 2
Unit 2 Baths Total 2.0
Unit 2 Beds Total 4
Fuel Type Gas-Natural
Half Baths 0
Total Bedrooms 6
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GeneralSewer Public Sewer
Heating 2 Units Baseboard - Hotwater
Cooling Window A/C(s)
Utilities Electric Gas-Natural
Possession 30-60
Roof Asphalt Shingle See Remarks
Water Heater Gas
Zoning HBD
Garage Spaces 0
Architectural Style 2-Two Story See Remarks
Year Built 1950
Garage None
Township Franklin Twp.
Tax Year 2025
Gross Income 54000
County Somerset
Net Operating Income 46800
Operating Expense 7200
Total Rooms 10
Full Baths 3
Status Active
Directions Follow GPS. Hamilton St between Mile Run Rd and Veronica Ave. The property is located near the New Brunswick border.
High School FRANKLIN
Open Parking Spaces 2
Number Of Units Total 2
Elementary School PINE GROVE
Tax Annual Amount 4516
Home Warranty Y/N No
Middle/Junior High School FRANKLIN
Drive 1 Car Width Blacktop Driveway-Exclusive Off-Street Parking
Standard Status Active
Tax Assessed Value 286500
Town # 2708
Tax Lot 129
Farm Assessment No
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ExteriorExterior Amenities Curbs Open Porch(es) Sidewalk Storm Door(s)
Lot Features Level Lot
Water Source Public Water
Exterior Description Vinyl Siding
Building Area Total 1440
Lot Dimensions 36X100
Lot Size Acres 0.08
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* Excluded FeaturesList ByXIANGHUI LOTUS ZHANGListing Agent
Elite Realtors Of New JerseyBroker
eTerminal19@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $4,344
- Monthly Property Taxes
- $376
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.49% 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.
Learn more about how to save NearbyMulti-family listings in Franklin Twp, NJ
Average List Price $931,500
Percent of Sale Price 35%
Trends Information provided by ATTOM Data Solutions.
5395229 Elementary School
288639 Middle School
Franklin High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 9/30/2026 | $688,000 | | Listed Price |