Two-Unit Duplex with Private
New
For Sale
$600,000
407 Port Reading Avenue, Port Reading, NJ 07064
MULTI_FAMILY - Port Reading, NJ
Property Size2,070 SF
Lot Size0.25 Acres
Price / SF$289.86
Days on Market4
Property Features for 407 Port Reading Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 2
Basement
Full
Middle school
Woodbridge
Directions
Route 1/9 to Port Reading Avenue. Continue on Port Reading Avenue to #407.
Subdivision
Port Reading
Standard status
Active
APN
25-00659-01-00013
Size
2,070 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9931
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1921
Floors in Building
2
Number of units
2
Listing Agency:
Real Broker, LLC- Point P
(732) 746-3654
Listed By:
Victoria Fasano
(732) 746-3654
Added: Aug 11
Changed: Aug 14
Last Checked: Aug 14 at 7:06AM
MLS# 22624797
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 2,070-square-foot duplex, built in 1921, includes two independent units, each with 2 bedrooms, 1 full bathroom, a living room, kitchen, and screened-in porch. Both residences have been freshly painted and updated with new flooring and mini blinds. Private entrances provide separation between the units, while the full unfinished basement includes a washer and dryer. An unfinished attic offers additional storage space.
Set on a 0.25-acre lot, the property also features a large driveway with ample off-street parking. Public water and public sewer serve the home. A NYC bus stop is less than 100 feet away, and Woodbridge Train Station is approximately one mile from the property. The two-family configuration supports owner occupancy with a separate rental unit or continued use as a residential income property.
Set on a 0.25-acre lot, the property also features a large driveway with ample off-street parking. Public water and public sewer serve the home. A NYC bus stop is less than 100 feet away, and Woodbridge Train Station is approximately one mile from the property. The two-family configuration supports owner occupancy with a separate rental unit or continued use as a residential income property.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bathroom in each unit
- 2,070 square feet on a 0.25‑acre lot
- Private entrances, screened‑in porches, and separate living spaces
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
$34,644
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
5.77%
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%
$692,880
$692.9K
Cap Rate 7%
$494,914
$494.9K
Cap Rate 9%
$384,933
$384.9K
Market Conditions
NOI Build-Up for 2,070 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
$52.9K $25.56/SF
− Vacancy
−$3.4K −$1.65/SF
EGI
$49.5K $23.91/SF
− OpEx
−$14.8K −$7.17/SF
NOI
$34.6K $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%
$692,880
Cap Rate 7%
$494,914
Cap Rate 9%
$384,933
Alternative Uses
Best Use
Multifamily LT 5
$494.9K
$433.1K – $577.4K
NOI $34,644 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$454.7K
$397.9K – $530.5K
NOI $31,832 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$540.5K
$473.0K – $630.6K
NOI $37,836 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 07064, NJ
3,905
Population
1,210
Households
3.2
Avg Household Size
41
Median Age
31%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
3,004
Density / Sq Mi
$143,194
Median Household Income
$58,650
Median Earnings
$415,500
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 - Updated interiors, separate access, and off-street parking support flexible occupancy.
Where is this duplex located?
The property is located at 407 Port Reading Avenue Port Reading, NJ.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bathroom in each unit; 2,070 square feet on a 0.25‑acre lot; Private entrances, screened‑in porches, and separate living spaces
