Two-Unit Duplex with
For Sale
Under Contract
$429,000
2 Darrow Street, South River, NJ 08882
Residential Income, South River, NJ
Property Size2,195 SF
Lot Size0.19 Acres
Price / SF$195.44
Days on Market155
Property Features for 2 Darrow Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bathroom 1, Dining Room
Parking features
Garage, On Street
Patio and Porch features
Deck, Porch, Patio
Interior features
Unit 1(1 Bedroom, Kitchen, 1 Bath, Living Room), Unit 2(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Living Room)
Exterior features
Patio, Porch(es) - Enclosed, Deck
Appliances
Water Heater(Oil, See Remarks), Water Heater, Unit 1(Dryer, Refrigerator, Washer)
Lot features
Level
Elementary school district
South River Borough School Dis
Middle school district
South River Borough School Dis
High school district
South River Borough School Dis
Directions
Old Bridge Tpke to Devoe to Darrow...#2...
Standard status
Active Under Contract
APN
23001250100048
Size
2,195 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6800
Utilities
Sewer type
Public Sewer
Heating system
Space Heater, Radiant, Central
Cooling system
Window Unit(s), Wall Unit(s)
Water source
Public
Amenities
garage
deck
patio
Building Details
Year built
1950
Floors in Building
2
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
BORAIE REALTY, LLC
(732) 846-3700
Listed By:
Ivan Gutierrez
(908) 881-2525
Added: Apr 10
Changed: Sep 2
Last Checked: Sep 11 at 5:06PM
MLS# 2613744R
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 2,195-square-foot duplex was built in 1950 on a 0.1928-acre lot in South River. The property includes two residential units with separate kitchens and living areas. Unit 1 includes one bedroom, a kitchen, one bath, and a living room, while Unit 2 offers two bedrooms, a kitchen, one bath, a dining room, and a living room. Additional finished space includes a basement with a kitchen, bedroom, bath, and laundry room.
Exterior features include an enclosed porch, deck, and patio, with a garage and on-street parking. The home has vinyl siding, an asphalt roof, public water, and public sewer. Heating includes central, space heater, and radiant systems, while cooling is provided by wall and window units. The property is located at 2 Darrow Street in South River, New Jersey.
Exterior features include an enclosed porch, deck, and patio, with a garage and on-street parking. The home has vinyl siding, an asphalt roof, public water, and public sewer. Heating includes central, space heater, and radiant systems, while cooling is provided by wall and window units. The property is located at 2 Darrow Street in South River, New Jersey.
Key Highlights
- 2,195 square feet on a 0.1928‑acre lot
- Two residential units with separate kitchens and living areas
- Unit 1 includes 1 bedroom and 1 bath; Unit 2 includes 2 bedrooms and 1 bath
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
$36,736
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
8.56%
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%
$734,720
$734.7K
Cap Rate 7%
$524,800
$524.8K
Cap Rate 9%
$408,178
$408.2K
Market Conditions
NOI Build-Up for 2,195 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
$56.1K $25.56/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$52.5K $23.91/SF
− OpEx
−$15.7K −$7.17/SF
NOI
$36.7K $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%
$734,720
Cap Rate 7%
$524,800
Cap Rate 9%
$408,178
Alternative Uses
Best Use
Multifamily LT 5
$524.8K
$459.2K – $612.3K
NOI $36,736 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$482.2K
$421.9K – $562.6K
NOI $33,755 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$573.2K
$501.5K – $668.7K
NOI $40,121 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
965
Businesses Nearby
Explore this area
Business Placement
Demographics for 08882, NJ
16,118
Population
5,789
Households
2.8
Avg Household Size
39
Median Age
31%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
5,756
Density / Sq Mi
$101,853
Median Household Income
$51,323
Median Earnings
$1,599
Median Rent
$382,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex offering separate kitchens, outdoor living areas, public utilities, and a mix of garage and street parking.
Where is this duplex located?
The property is located at 2 Darrow Street South River, NJ.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 2,195 square feet on a 0.1928‑acre lot; Two residential units with separate kitchens and living areas; Unit 1 includes 1 bedroom and 1 bath; Unit 2 includes 2 bedrooms and 1 bath
