Updated Two-Family
245 Westervelt Place Lodi, NJ 07644
New
245 Westervelt Place, Lodi, NJ, 07644
$989,000
For Sale
$989,000
MULTI_FAMILY - Lodi, NJ
Property Size3,068 SF
Lot Size0.11 Acres
Price / SF$322.36
Days on Market2
Property Features for 245 Westervelt Place
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bedroom 1, Bedroom 6, Bathroom 3, Bathroom 1, Bedroom 3, Basement, Bedroom 4, Bathroom 2, Bedroom 2
- Parking features
- Oversize, On Street, Off Street
- Security features
- Security System
- Patio and Porch features
- Patio
- Interior features
- Attic - Pull Down Strs
- Exterior features
- Lighting
- Fencing
- Fenced
- Basement
- Walk-Out Access
- Standard status
- Active
- APN
- 31-00057-0000-00045
- Size
- 3,068 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 18546
Utilities
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2006
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Wood
Listing agency
C21/ Solid Gold Realty
(732) 920-2100
Listed by
Cristine Palazzo
(732) 920-2100
Added: Jul 22 Checked: Jul 23 at 1:06AM
MLS# 22622372
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 beautifully maintained two-family duplex offers a turnkey, move-in ready setup with modern updates throughout. The home features skylights that bring natural light inside, and a security system on the second floor. Both floors include brand new stainless steel appliances, and the upstairs kitchen is updated with a granite island and new stainless steel appliances, including a smart Samsung HUB refrigerator. Additional improvements include a new HVAC system on the second floor, new wood flooring downstairs, freshly painted interiors, and new fence work. An upstairs attic provides ample storage space.
The property is described as being in a location not in a flood zone, with convenient access to shopping, dining, major highways, and NYC transportation.
With separate utilities, the layout is positioned to support an owner-occupant or multi-generational arrangement while also providing a functional setup for rental use.
The property is described as being in a location not in a flood zone, with convenient access to shopping, dining, major highways, and NYC transportation.
With separate utilities, the layout is positioned to support an owner-occupant or multi-generational arrangement while also providing a functional setup for rental use.
Key Highlights
- Two‑family home built in 2006 with wood flooring and central air
- Upstairs updated kitchen with granite island and all new stainless steel appliances, including smart Samsung HUB refrigerator
- Separate utilities for each unit—suited for owner‑occupant, extended family, or investor use
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.4k | $25.56 |
| − Vacancy | −$5.1k | −$1.65 |
| EGI | $73.4k | $23.91 |
| − OpEx | −$22.0k | −$7.17 |
| NOI | $51.3k | $16.74 |
3,068 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$733.5K
$641.8K – $855.8K
NOI $51,347 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$674.0K
$589.8K – $786.3K
NOI $47,180 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$801.1K
$701.0K – $934.6K
NOI $56,078 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Turnkey updated duplex with separate utilities, skylights, and a second-floor security system, not located in a flood zone.
Where is this duplex located?
The property is located at 245 Westervelt Place Lodi, NJ.
What is the asking price?
The asking price for this property is $989,000.
What are key features of this property?
This property features: Two‑family home built in 2006 with wood flooring and central air; Upstairs updated kitchen with granite island and all new stainless steel appliances, including smart Samsung HUB refrigerator; Separate utilities for each unit—suited for owner‑occupant, extended family, or investor use
