Duplex with Separate Utility
For Sale
$650,000
Pending
125 Lincoln Avenue, Carteret, NJ 07008
MULTI_FAMILY - Carteret, NJ
Property Size2,176 SF
Lot Size0.13 Acres
Days on Market52
Property Features for 125 Lincoln Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Basement, Bathroom 1, Bedroom 2
Parking
2
Parking features
Oversize
Interior features
Attic - Walk Up
Basement
Full
Lot features
Corner Lot
Middle school
Lincoln
High school
Carteret
Directions
Roosevelt Ave to corner of Lincoln Ave
Standard status
Pending
APN
01-06003-0000-00001
Size
2,176 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11138
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Forced Air
Cooling system
Central Air, Multi Units
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Building materials
Brick
Roof type
Shingle
Listing Agency:
RE/MAX Central · RE/MAX International
(732) 972-1000
Listed By:
Lori Bocchieri-Bennett · License #24560
(732) 972-1000
Added: Jul 9
Changed: Aug 7
Last Checked: Aug 29 at 2:06AM
MLS# 22620757
Copyright © 2026 More MLS. 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 brick duplex offers two distinct units with separate gas and electric meters for each unit. The property includes a full basement and an upstairs unit with a large walk-up attic (described as potentially finishable for additional approx 700 SF of living space). Heating includes forced air and radiant, and cooling is central air for the multi-unit setup. Each unit is supported by public water and public sewer. Parking features include an oversize area, and the property also has a large detached garage.
Built in 1940 on a 0.13-acre lot, the roof is approx 15 years old and the H2O is approx 2 years old. The home is close to the Woodbridge Train Station, NJ bus service, grocery stores and dining, as well as Carteret Park and the URSB Performing Arts & Events Center. Nearby amenities include the Carteret Waterfront Park and Marina with a riverwalk and fishing pier, and a future multimodal ferry terminal.
Interior features include a walk-up attic, and the room mix is set up for bedroom and bathroom separation between the two units.
Built in 1940 on a 0.13-acre lot, the roof is approx 15 years old and the H2O is approx 2 years old. The home is close to the Woodbridge Train Station, NJ bus service, grocery stores and dining, as well as Carteret Park and the URSB Performing Arts & Events Center. Nearby amenities include the Carteret Waterfront Park and Marina with a riverwalk and fishing pier, and a future multimodal ferry terminal.
Interior features include a walk-up attic, and the room mix is set up for bedroom and bathroom separation between the two units.
Key Highlights
- Two distinct units with separate gas and electric meters
- 0.13‑acre lot and 2,176 SF total building size
- Built in 1940 with brick construction
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
$36,418
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
5.60%
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%
$728,360
$728.4K
Cap Rate 7%
$520,257
$520.3K
Cap Rate 9%
$404,644
$404.6K
Market Conditions
NOI Build-Up for 2,176 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
$55.6K $25.56/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$52.0K $23.91/SF
− OpEx
−$15.6K −$7.17/SF
NOI
$36.4K $16.74/SF
Area
Middlesex 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%
$728,360
Cap Rate 7%
$520,257
Cap Rate 9%
$404,644
Alternative Uses
Best Use
Multifamily LT 5
$520.3K
$455.2K – $607.0K
NOI $36,418 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$478.0K
$418.3K – $557.7K
NOI $33,463 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$568.2K
$497.2K – $662.9K
NOI $39,774 @ 7.0% cap · market cap 6.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
Explore this area
Business Placement
Demographics for 07008, NJ
25,342
Population
8,717
Households
2.9
Avg Household Size
37
Median Age
28%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
5,760
Density / Sq Mi
$87,712
Median Household Income
$42,770
Median Earnings
$2,012
Median Rent
$370,100
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?
Duplex - Duplex features two distinct units with separate gas and electric meters, plus a full basement and detached garage.
Where is this duplex located?
The property is located at 125 Lincoln Avenue Carteret, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two distinct units with separate gas and electric meters; 0.13‑acre lot and 2,176 SF total building size; Built in 1940 with brick construction
