Duplex With Detached
For Sale
Under Contract
$649,999
51 Jeanette Street, Carteret, NJ 07008
Residential Income, Carteret, NJ
Property Size1,629 SF
Lot Size0.12 Acres
Price / SF$399.02
Days on Market94
Property Features for 51 Jeanette Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
3
Full bathrooms
3
Rooms
Dining Room, Bathroom 2, Basement, Bathroom 3, Bathroom 1
Parking features
Garage
Patio and Porch features
Deck, Porch
Interior features
Unit 1(Dining Room, 2 Bedrooms, 3 Bedrooms, Kitchen, Laundry Hookup, Living Room), Unit 2(1 Bedroom, 2 Bedrooms, Kitchen, Living Room)
Exterior features
Porch(es) - Enclosed, Deck
Appliances
Water Heater(From Furnace), Water Heater, Unit 1(Dryer, Range/Oven, Washer), Unit 2(Range/Oven, Refrigerator)
Lot features
Near Shopping, Near Public Transit
Elementary school district
Carteret Borough School Distri
Middle school district
Carteret Borough School Distri
High school district
Carteret Borough School Distri
Standard status
Active Under Contract
APN
0105403000000003
Size
1,629 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7473
Utilities
Sewer type
Public Sewer
Heating system
Radiant
Cooling system
Window Unit(s)
Water source
Public
Amenities
full basement with full bathroom
Building Details
Year built
1938
Floors in Building
2
Building materials
Vinyl Siding
Listing Agency:
KELLER WILLIAMS ELITE REALTORS · Keller Williams Realty
(732) 549-1998
Listed By:
Anthony Eaton
(732) 829-7299
Added: Jun 11
Changed: Sep 12
Last Checked: Sep 12 at 9:06AM
MLS# 2617435R
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 duplex provides 1,629 square feet with five bedrooms and three bathrooms across two residential units. The property includes a full basement with a bathroom, an enclosed porch, and a deck. Interior features include kitchens and living areas in both units, along with dining space and laundry hookups in Unit 1. Appliances include ranges in both units, plus a refrigerator in Unit 2 and washer and dryer equipment in Unit 1.
The 0.1171-acre parcel includes a detached two-car garage and a four-car driveway. Vinyl siding, radiant heat, window-unit cooling, public water, and public sewer are also in place. Built in 1938, the property is near schools, shopping, parks, an NYC bus line, and a ferry service identified as coming soon.
The 0.1171-acre parcel includes a detached two-car garage and a four-car driveway. Vinyl siding, radiant heat, window-unit cooling, public water, and public sewer are also in place. Built in 1938, the property is near schools, shopping, parks, an NYC bus line, and a ferry service identified as coming soon.
Key Highlights
- 1,629‑square‑foot duplex with 5 bedrooms and 3 bathrooms
- Full basement includes a bathroom
- Detached 2‑car garage and 4‑car driveway
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
$27,263
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
4.19%
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%
$545,260
$545.3K
Cap Rate 7%
$389,471
$389.5K
Cap Rate 9%
$302,922
$302.9K
Market Conditions
NOI Build-Up for 1,629 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
$41.6K $25.56/SF
− Vacancy
−$2.7K −$1.65/SF
EGI
$38.9K $23.91/SF
− OpEx
−$11.7K −$7.17/SF
NOI
$27.3K $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%
$545,260
Cap Rate 7%
$389,471
Cap Rate 9%
$302,922
Alternative Uses
Best Use
Multifamily LT 5
$389.5K
$340.8K – $454.4K
NOI $27,263 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$357.9K
$313.1K – $417.5K
NOI $25,051 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$425.4K
$372.2K – $496.3K
NOI $29,776 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
560
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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-family property with enclosed porch, deck, basement space, and separate parking improvements.
Where is this duplex located?
The property is located at 51 Jeanette Street Carteret, NJ.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: 1,629‑square‑foot duplex with 5 bedrooms and 3 bathrooms; Full basement includes a bathroom; Detached 2‑car garage and 4‑car driveway
