Four-Unit Quadplex with
For Sale
$1,095,000
109 E Munsell Ave, Linden, NJ 07036
Multi-Family, 2-Two Story, Fourplex, Linden City, NJ
Property Size3,600 SF
Lot Size0.20 Acres
Price / SF$304.17
Days on Market20
Property Features for 109 E Munsell Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2B
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 4, Bedroom 7, Bathroom 1, Bedroom 2, Bathroom 4, Basement, Bedroom 8, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 5
Parking
8
Patio and Porch features
Porch
Interior features
Carbon Monoxide Detector, Carpeting, Fire Alarm Sys, Smoke Detector, Tile Floors, Vinyl-Linoleum Floors, Wood Floors
Exterior features
Curbs, Open Porch(es), Sidewalk, Storm Window(s), Thermal Windows/Doors
Lot features
Irregular Lot, Level Lot
Elementary school
6 E.S.
Middle school
Soehl
High school
Linden
Directions
WOOD AVE TO EAST MUNSELL TO #109-111
Standard status
Active
Size
3,600 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13118
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Other (Heating), Steam
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Roof type
Rubber, Flat
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY
(908) 233-8502
Listed By:
THOMAS S. GASSLER
(908) 233-8502
Added: Aug 11
Changed: Aug 30
Last Checked: Aug 30 at 9:06PM
MLS# 4046249
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,600-square-foot quadplex contains four units within a two-story multifamily configuration. The property includes 8 bedrooms, 4 bathrooms, a basement, and an open porch. Interior finishes include wood, tile, vinyl-linoleum, and carpeted flooring, while steam heating and a flat rubber roof serve the building. Built in 1900, the property also features storm windows and thermal windows or doors.
The 0.20-acre parcel is located at 109 E Munsell Ave in Linden City, Union County, New Jersey. Curbs and a sidewalk border the property, with public water and public sewer available. Three of the four units are leased, and the property is zoned R-2B.
The 0.20-acre parcel is located at 109 E Munsell Ave in Linden City, Union County, New Jersey. Curbs and a sidewalk border the property, with public water and public sewer available. Three of the four units are leased, and the property is zoned R-2B.
Key Highlights
- Four‑unit quadplex on a 0.20‑acre parcel
- 3,600 square feet with 8 bedrooms and 4 bathrooms
- Three of four units are leased
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
$60,250
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
5.50%
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%
$1,205,000
$1.2M
Cap Rate 7%
$860,714
$860.7K
Cap Rate 9%
$669,444
$669.4K
Market Conditions
NOI Build-Up for 3,600 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
$92.0K $25.56/SF
− Vacancy
−$5.9K −$1.65/SF
EGI
$86.1K $23.91/SF
− OpEx
−$25.8K −$7.17/SF
NOI
$60.3K $16.74/SF
Area
Union 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%
$1,205,000
Cap Rate 7%
$860,714
Cap Rate 9%
$669,444
Alternative Uses
Best Use
Multifamily LT 5
$860.7K
$753.1K – $1.00M
NOI $60,250 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$790.9K
$692.0K – $922.7K
NOI $55,361 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$940.0K
$822.5K – $1.10M
NOI $65,802 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,287
Businesses Nearby
Explore this area
Business Placement
Demographics for 07036, NJ
45,161
Population
16,911
Households
2.7
Avg Household Size
40
Median Age
23%
College-Educated
85%
High-School Grad
10.9 sq mi
ZIP Area
4,143
Density / Sq Mi
$89,942
Median Household Income
$46,736
Median Earnings
$1,622
Median Rent
$385,100
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?
Quadplex - Two-story multifamily property with R-2B zoning, public utilities, and three leased units.
Where is this quadplex located?
The property is located at 109 E Munsell Ave Linden, NJ.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Four‑unit quadplex on a 0.20‑acre parcel; 3,600 square feet with 8 bedrooms and 4 bathrooms; Three of four units are leased
