Two-Unit Duplex with Detached
For Sale
Under Contract
$450,000
7 Freeman Street, New Brunswick, NJ 08901
MULTI_FAMILY - New Brunswick, NJ
Property Size1,928 SF
Lot Size0.11 Acres
Price / SF$233.40
Days on Market53
Property Features for 7 Freeman Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5A
Zoning description
Buyer Should Verify
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2, Dining Room
Parking features
Garage
Patio and Porch features
Porch
Interior features
Unit 1(1 Bedroom, Dining Room, Kitchen, 1 Bath, Living Room), Unit 2(1 Bedroom, Dining Room, Kitchen, 1 Bath, Living Room)
Exterior features
Curbs, Porch(es) - Open, Sidewalk, Yard, Porch
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
Subdivision
Brookside Realty Co
Elementary school district
New Brunswick City School Dist
Middle school district
New Brunswick City School Dist
High school district
New Brunswick City School Dist
Directions
Somerset St. to Freeman St.
Standard status
Active Under Contract
APN
130042000000005701
Size
1,928 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8590
Utilities
Sewer type
Public Sewer
Heating system
Steam, Other (Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1912
Floors in Building
2
Building materials
Wood Siding
Roof type
Asphalt
Listing Agency:
C-21 BARROOD REALTORS · Century 21 Real Estate
(732) 297-7900
Listed By:
Tony Chedid
(732) 297-7900
Added: Jun 20
Changed: Aug 1
Last Checked: Aug 11 at 3:06PM
MLS# 2617921R
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.
Two-unit duplex designed for flexible living and rental arrangements. Each floor features a 1-bedroom layout with a living room, dining room, kitchen, and 1 full bath. The finished attic adds additional living space with a bedroom, living room, and a 1/2 bath. The property needs TLC, and the interior details and systems offer a clear path for updates.
The roof is 5 years old, and the water heaters are 10 years old. Unit 2 (1 bedroom) is occupied by the owner, while Unit 1 is vacant and includes a new fridge and stove. The home has a 2-car wide driveway with a detached garage, plus porches and a yard.
Set on a 0.1136-acre lot (50x99) with wood siding and an asphalt roof. The home is served by public water and public sewer, with steam heating and window unit(s) for cooling.
The roof is 5 years old, and the water heaters are 10 years old. Unit 2 (1 bedroom) is occupied by the owner, while Unit 1 is vacant and includes a new fridge and stove. The home has a 2-car wide driveway with a detached garage, plus porches and a yard.
Set on a 0.1136-acre lot (50x99) with wood siding and an asphalt roof. The home is served by public water and public sewer, with steam heating and window unit(s) for cooling.
Key Highlights
- Each floor offers a 1‑bedroom unit with living room, dining room, kitchen, and 1 full bath
- Finished attic includes a bedroom, living room, and a 1/2 bath
- Unit 2 is occupied by the owner; Unit 1 is vacant with a new fridge and stove
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
$32,267
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
7.17%
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%
$645,340
$645.3K
Cap Rate 7%
$460,957
$461.0K
Cap Rate 9%
$358,522
$358.5K
Market Conditions
NOI Build-Up for 1,928 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
$49.3K $25.56/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$46.1K $23.91/SF
− OpEx
−$13.8K −$7.17/SF
NOI
$32.3K $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%
$645,340
Cap Rate 7%
$460,957
Cap Rate 9%
$358,522
Alternative Uses
Best Use
Multifamily LT 5
$461.0K
$403.3K – $537.8K
NOI $32,267 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$423.6K
$370.6K – $494.2K
NOI $29,649 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$503.4K
$440.5K – $587.4K
NOI $35,241 @ 7.0% cap · market cap 7.83%
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
3,610
Businesses Nearby
Explore this area
Business Placement
Demographics for 08901, NJ
56,278
Population
17,071
Households
3.3
Avg Household Size
27
Median Age
24%
College-Educated
66%
High-School Grad
6.3 sq mi
ZIP Area
8,933
Density / Sq Mi
$60,248
Median Household Income
$25,192
Median Earnings
$1,790
Median Rent
$316,800
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 in R-5A zoning with finished attic, steam heat, window AC, and public water and sewer.
Where is this duplex located?
The property is located at 7 Freeman Street New Brunswick, NJ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Each floor offers a 1‑bedroom unit with living room, dining room, kitchen, and 1 full bath; Finished attic includes a bedroom, living room, and a 1/2 bath; Unit 2 is occupied by the owner; Unit 1 is vacant with a new fridge and stove
