Duplex with Two 2-Bedroom
For Sale
$485,000
187 Hale Street, New Brunswick, NJ 08901
MULTI_FAMILY - New Brunswick, NJ
Property Size1,248 SF
Lot Size0.06 Acres
Price / SF$388.62
Days on Market121
Property Features for 187 Hale Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5A
Zoning description
Conform to Zoning
Rooms
Basement
Patio and Porch features
Porch
Interior features
Unit 1(2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(2 Bedrooms, Kitchen, 1 Bath, Living Room)
Exterior features
Porch
Appliances
Water Heater(Gas), Water Heater
Lot features
Level
Elementary school district
New Brunswick City School Dist
Middle school district
New Brunswick City School Dist
High school district
New Brunswick City School Dist
Directions
Remsen Ave to Hale St
Standard status
Active
APN
1300198000000016
Size
1,248 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
5335
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
REAL
(855) 450-0442
Listed By:
John Natale · License #278939
(212) 380-3203
Added: Apr 27
Changed: Jul 31
Last Checked: Aug 25 at 4:06AM
MLS# 2614714R
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 duplex offers two separate two-bedroom layouts, with each unit including one full bath, a kitchen, and a living room. The property includes a porch and features vinyl siding, an asphalt roof, and baseboard hot water heating. Cooling is provided via window unit(s), and the home has public water and public sewer service, with water heater(s) in place. A basement is listed as part of the rooms.
Zoned R-5A, the property sits on a 0.0574-acre lot in New Brunswick, NJ (Middlesex County). Built in 1920, it provides a straightforward owner-occupant or rental configuration with two self-contained residential units.
With a compact lot size and a classic two-unit arrangement, this is a practical option for tenants seeking an established duplex configuration within an R-5A zoning district.
Zoned R-5A, the property sits on a 0.0574-acre lot in New Brunswick, NJ (Middlesex County). Built in 1920, it provides a straightforward owner-occupant or rental configuration with two self-contained residential units.
With a compact lot size and a classic two-unit arrangement, this is a practical option for tenants seeking an established duplex configuration within an R-5A zoning district.
Key Highlights
- Duplex with two 2‑bedroom units, each with one full bath
- Zoned R‑5A
- 0.0574‑acre lot
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
$20,887
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
4.31%
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%
$417,740
$417.7K
Cap Rate 7%
$298,386
$298.4K
Cap Rate 9%
$232,078
$232.1K
Market Conditions
NOI Build-Up for 1,248 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
$31.9K $25.56/SF
− Vacancy
−$2.1K −$1.65/SF
EGI
$29.8K $23.91/SF
− OpEx
−$9.0K −$7.17/SF
NOI
$20.9K $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%
$417,740
Cap Rate 7%
$298,386
Cap Rate 9%
$232,078
Alternative Uses
Best Use
Multifamily LT 5
$298.4K
$261.1K – $348.1K
NOI $20,887 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$274.2K
$239.9K – $319.9K
NOI $19,192 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$325.9K
$285.1K – $380.2K
NOI $22,811 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,370
Businesses Nearby
Explore this area
Business Placement
Demographics for 08901, NJ
56,278
Population
17,071
Households
3.3
Avg Household Size
27
Median Age
24%
College-Educated
66%
High-School Grad
6.3 sq mi
ZIP Area
8,933
Density / Sq Mi
$60,248
Median Household Income
$25,192
Median Earnings
$1,790
Median Rent
$316,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R-5A zoned duplex with two 2-bedroom units, each with a full bath, plus a porch and public utilities.
Where is this duplex located?
The property is located at 187 Hale Street New Brunswick, NJ.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Duplex with two 2‑bedroom units, each with one full bath; Zoned R‑5A; 0.0574‑acre lot
