Renovated Two-Family
For Sale
$750,000
31 Edwin Street, Carteret, NJ 07008
MULTI_FAMILY - Carteret, NJ
Property Size1,736 SF
Price / SF$432.03
Days on Market128
Property Features for 31 Edwin Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Dining Room, Basement, Bathroom 2
Window features
Screens
Interior features
Unit 1(2 Bedrooms, Kitchen, 1 Bath, Living Room, See Remarks), Unit 2(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Living Room, See Remarks)
Exterior features
Curbs, Screen/Storm Window, Sidewalk, Fencing/Wall, Yard
Fencing
Fenced
Appliances
Water Heater(Gas), Water Heater, Unit 1(Dryer, Range/Oven, Refrigerator, Washer), Unit 2(Range/Oven, Refrigerator)
Subdivision
Ambrose Hills-sec Two
Lot features
Near Public Transit
Elementary school district
Carteret Borough School Distri
Middle school district
Carteret Borough School Distri
High school district
Carteret Borough School Distri
Directions
Port Reading Ave to right on Edwin st
Standard status
Active
APN
0107801000000004
Size
1,736 SF
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7578
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Hot Water(Heating), Baseboard
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1916
Floors in Building
2
Building materials
Vinyl Siding
Roof type
Asphalt
Additional Structures
See Remarks
Listing Agency:
CENTURY 21 MAIN STREET REALTY
(732) 750-4663
Listed By:
Saba Rizvi
(732) 527-7201
Added: Apr 9
Changed: Aug 1
Last Checked: Aug 14 at 7:06AM
MLS# 2613898R
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 well-maintained two-family duplex offers two separate units under one roof. Unit 1 includes two bedrooms, a bright living room, a renovated kitchen with updated stainless steel appliances, and a full bathroom with a Jacuzzi tub. Unit 1 also features central air conditioning. Unit 2 provides two bedrooms, a kitchen, and a full bathroom, and it is currently rented. The home has a new roof and is built with vinyl siding. Additional interior features include forced-air and hot water/baseboard heating, along with ceiling fans.
The property sits on a large lot with yard space and fenced perimeter, with curbs and sidewalks nearby. Public water and public sewer service are available. The roof is asphalt and the home was built in 1916.
With a current tenant in Unit 2 and well-defined unit layouts, the property can support both owner-occupant living and rental use.
The property sits on a large lot with yard space and fenced perimeter, with curbs and sidewalks nearby. Public water and public sewer service are available. The roof is asphalt and the home was built in 1916.
With a current tenant in Unit 2 and well-defined unit layouts, the property can support both owner-occupant living and rental use.
Key Highlights
- Two‑family duplex with Unit 2 currently rented
- Unit 1: renovated kitchen with updated stainless steel appliances plus central air
- Unit 1 full bath includes Jacuzzi tub
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
$29,054
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
3.87%
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%
$581,080
$581.1K
Cap Rate 7%
$415,057
$415.1K
Cap Rate 9%
$322,822
$322.8K
Market Conditions
NOI Build-Up for 1,736 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
$44.4K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$41.5K $23.91/SF
− OpEx
−$12.5K −$7.17/SF
NOI
$29.1K $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%
$581,080
Cap Rate 7%
$415,057
Cap Rate 9%
$322,822
Alternative Uses
Best Use
Multifamily LT 5
$415.1K
$363.2K – $484.2K
NOI $29,054 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$381.4K
$333.7K – $444.9K
NOI $26,696 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$453.3K
$396.6K – $528.9K
NOI $31,731 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
458
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 - Two-unit duplex with a renovated kitchen, central air on the first floor, and a second-floor unit currently rented.
Where is this duplex located?
The property is located at 31 Edwin Street Carteret, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑family duplex with Unit 2 currently rented; Unit 1: renovated kitchen with updated stainless steel appliances plus central air; Unit 1 full bath includes Jacuzzi tub
