Two-Family Duplex with Large Rear
For Sale
$629,900
173 Clinton Street, South Bound Brook, NJ 08880
MULTI_FAMILY - South Bound Brook, NJ
Property Size3,598 SF
Lot Size0.30 Acres
Price / SF$175.07
Days on Market45
Property Features for 173 Clinton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Zoning description
Buyer Should Verify
Bathrooms
3
Full bathrooms
3
Rooms
Den, Bathroom 2, Dining Room, Bathroom 3, Bathroom 1, Basement
Patio and Porch features
Porch
Interior features
Unit 1(3 Bedrooms, Kitchen, Living Room, Den/Family Room), Unit 2(Dining Room, Kitchen, 5+ Bedrooms, Living Room, 2+ Baths)
Exterior features
Porch(es) - Open, Sidewalk, Porch
Appliances
Water Heater(Gas), Water Heater
Lot features
Near Shopping, Near Train, Near Public Transit
Elementary school district
South Bound Brook Borough Scho
Middle school district
South Bound Brook Borough Scho
High school district
South Bound Brook Borough Scho
Directions
to Clinton
Standard status
Active
APN
1900052000000007
Size
3,598 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
11848
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Flooring type
Carpet
Building materials
Wood Siding
Roof type
Flat
Listing Agency:
BEST REALTY · RE/MAX International
(732) 819-8895
Listed By:
Bruce Parker · License #9482948
(908) 202-5738
Added: Jun 30
Changed: Aug 2
Last Checked: Aug 13 at 9:06AM
MLS# 2700060R
Copyright © 2026 All Jersey 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 two-family duplex offers a combined total of 3,598 square feet on a 0.2966-acre lot, built in 1920. The home includes an open front porch and a full unfinished basement, with interior features for both apartments such as living rooms, kitchens, and bedrooms plus flexible space.
Unit 1 is vacant and ready for immediate occupancy. It features three bedrooms and a versatile fourth room that can be used as a den, home office, or guest room, along with an oversized eat-in kitchen and a full bath with a tub/shower combination. Unit 2 occupies the second and third floors and is tenant occupied, providing existing rental income. It includes five bedrooms, two full baths, a living room, and a recently renovated oversized kitchen with a spacious dining area.
Additional building details include a rear staircase, two separate heating systems, two hot water heaters, separate gas and electric meters, and separate utilities for each apartment. The property also features a large rear yard, plus public water and public sewer. Convenient access includes Route 287 and proximity to shopping, restaurants, and public transportation.
Unit 1 is vacant and ready for immediate occupancy. It features three bedrooms and a versatile fourth room that can be used as a den, home office, or guest room, along with an oversized eat-in kitchen and a full bath with a tub/shower combination. Unit 2 occupies the second and third floors and is tenant occupied, providing existing rental income. It includes five bedrooms, two full baths, a living room, and a recently renovated oversized kitchen with a spacious dining area.
Additional building details include a rear staircase, two separate heating systems, two hot water heaters, separate gas and electric meters, and separate utilities for each apartment. The property also features a large rear yard, plus public water and public sewer. Convenient access includes Route 287 and proximity to shopping, restaurants, and public transportation.
Key Highlights
- 0.2966‑acre lot with 3,598 SF duplex built in 1920
- Unit 1 vacant: three bedrooms plus a versatile fourth room
- Unit 2 tenant occupied: five bedrooms, two full baths, living room, dining area
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
$51,350
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
8.15%
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%
$1,027,000
$1.0M
Cap Rate 7%
$733,571
$733.6K
Cap Rate 9%
$570,556
$570.6K
Market Conditions
NOI Build-Up for 3,598 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
$77.7K $21.60/SF
− Vacancy
−$4.4K −$1.21/SF
EGI
$73.4K $20.39/SF
− OpEx
−$22.0K −$6.12/SF
NOI
$51.3K $14.27/SF
Area
Somerset County, NJ
Vacancy
5.61%
Lease Rate
$21.60 /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%
$1,027,000
Cap Rate 7%
$733,571
Cap Rate 9%
$570,556
Alternative Uses
Best Use
Multifamily LT 5
$733.6K
$641.9K – $855.8K
NOI $51,350 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$638.4K
$558.6K – $744.9K
NOI $44,691 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$939.5K
$822.1K – $1.10M
NOI $65,766 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Demographics for 08880, NJ
4,872
Population
1,870
Households
2.6
Avg Household Size
38
Median Age
24%
College-Educated
89%
High-School Grad
0.6 sq mi
ZIP Area
8,120
Density / Sq Mi
$102,019
Median Household Income
$51,442
Median Earnings
$1,822
Median Rent
$345,300
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 zoned R-2 with a large rear yard, one vacant unit, and one tenant-occupied unit with separate utilities.
Where is this duplex located?
The property is located at 173 Clinton Street South Bound Brook, NJ.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: 0.2966‑acre lot with 3,598 SF duplex built in 1920; Unit 1 vacant: three bedrooms plus a versatile fourth room; Unit 2 tenant occupied: five bedrooms, two full baths, living room, dining area
