Two-Family Residential
For Sale
Under Contract
$595,000
425 N New Market Road, Piscataway, NJ 08854
MULTI_FAMILY - Piscataway, NJ
Property Size2,208 SF
Lot Size0.30 Acres
Price / SF$269.47
Days on Market51
Property Features for 425 N New Market Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R75
Zoning description
Buyer Should Verify
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Den, Dining Room, Basement
Parking features
Garage
Interior features
Unit 1(Dining Room, 3 Bedrooms, Kitchen, 1 Bath, Den/Family Room), Unit 2(3 Bedrooms, Kitchen, 1 Bath)
Appliances
Water Heater(See Remarks), Water Heater
Elementary school district
Piscataway Township School Dis
Middle school district
Piscataway Township School Dis
High school district
Piscataway Township School Dis
Directions
Use Maps
Standard status
Active Under Contract
APN
170091000000000801
Size
2,208 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8183
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating), Baseboard
Water source
Public
Building Details
Year built
1914
Floors in Building
2
Listing Agency:
COLDWELL BANKER REALTY
(908) 233-5555
Listed By:
Erin Ben-Hayon · License #1751418
(908) 233-5555
Added: Jun 22
Changed: Aug 2
Last Checked: Aug 11 at 8:06AM
MLS# 2618088R
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 two-family residential building offers two large units with three bedrooms and one full bath each. Unit 1 includes a living area with a dining room and formal dining room, along with a den/family room, kitchen, and one bath. Unit 2 includes three bedrooms, a kitchen, and one bath. The home features forced-air and electric/baseboard heating, with public water and public sewer services. Parking includes a garage. The property was built in 1914 and is being sold strictly as is, with the buyer responsible for obtaining the CO. Sale is subject to court approval.
The lot is listed at 0.303 acres. Additional rooms noted include two bathrooms, a den, a dining room, and a basement.
The lot is listed at 0.303 acres. Additional rooms noted include two bathrooms, a den, a dining room, and a basement.
Key Highlights
- Two‑family layout with two units
- Each unit offers three bedrooms and one full bath
- Unit 1 includes living room, formal dining room, and den/family room
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
$36,953
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
6.21%
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%
$739,060
$739.1K
Cap Rate 7%
$527,900
$527.9K
Cap Rate 9%
$410,589
$410.6K
Market Conditions
NOI Build-Up for 2,208 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
$56.4K $25.56/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$52.8K $23.91/SF
− OpEx
−$15.8K −$7.17/SF
NOI
$37.0K $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%
$739,060
Cap Rate 7%
$527,900
Cap Rate 9%
$410,589
Alternative Uses
Best Use
Multifamily LT 5
$527.9K
$461.9K – $615.9K
NOI $36,953 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$485.1K
$424.4K – $565.9K
NOI $33,955 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$576.6K
$504.5K – $672.7K
NOI $40,359 @ 7.0% cap · market cap 6.78%
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
360
Businesses Nearby
Explore this area
Business Placement
Demographics for 08854, NJ
60,545
Population
18,069
Households
3.4
Avg Household Size
34
Median Age
50%
College-Educated
92%
High-School Grad
18.9 sq mi
ZIP Area
3,203
Density / Sq Mi
$126,331
Median Household Income
$42,397
Median Earnings
$1,929
Median Rent
$423,900
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 - Two-unit home with three bedrooms and one full bath per unit, plus a garage and public utilities.
Where is this duplex located?
The property is located at 425 N New Market Road Piscataway, NJ.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑family layout with two units; Each unit offers three bedrooms and one full bath; Unit 1 includes living room, formal dining room, and den/family room
