Renovated Duplex with Detached
For Sale
$850,000
105 Louis St, New Brunswick, NJ 08901
Two-unit property with updated interiors, separate utilities, a full basement, and substantial off-street parking.
Property Size2,312 SF
Price / SF$367.65
Days on Market40
Property Features for 105 Louis St
General Information
Standard status
Active
Size
2,312 SF
Property subtype
Multi-Family
Building Details
Year Built
1924
Listing Agency:
COLDWELL BANKER REALTY
(732) 254-3750
Listed By:
NEVIN ASHAMALLA
Source:
Mynewjerseyrealestate
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 25 at 5:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This renovated duplex, built in 1924, contains two separate residential units with individual utilities and meters. The first-floor apartment has 2 bedrooms, a living room, dining room, full bath, and eat-in kitchen; the dining room may be converted into a third bedroom. The second-floor unit includes 4 bedrooms, a full bath, family room, and eat-in kitchen, along with access to a high-ceiling attic. Both units feature stainless steel appliances, LVP flooring, replacement doors, and fresh paint. A full basement provides additional space.
The property sits on a large lot with a spacious backyard, long driveway accommodating 4+ cars, and a detached 2-car garage. It is located near Rutgers University, Robert Wood Johnson University Hospital, downtown New Brunswick restaurants and shopping, the NJ Transit train station, and public transportation. Route 18, Route 1, and the NJ Turnpike are also nearby.
The property sits on a large lot with a spacious backyard, long driveway accommodating 4+ cars, and a detached 2-car garage. It is located near Rutgers University, Robert Wood Johnson University Hospital, downtown New Brunswick restaurants and shopping, the NJ Transit train station, and public transportation. Route 18, Route 1, and the NJ Turnpike are also nearby.
Key Highlights
- Two‑unit duplex with 2‑bedroom and 4‑bedroom apartments
- Renovated interiors with stainless steel appliances and LVP flooring
- Separate utilities and meters for each unit
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
$38,694
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
4.55%
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%
$773,880
$773.9K
Cap Rate 7%
$552,771
$552.8K
Cap Rate 9%
$429,933
$429.9K
Market Conditions
NOI Build-Up for 2,312 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
$59.1K $25.56/SF
− Vacancy
−$3.8K −$1.65/SF
EGI
$55.3K $23.91/SF
− OpEx
−$16.6K −$7.17/SF
NOI
$38.7K $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%
$773,880
Cap Rate 7%
$552,771
Cap Rate 9%
$429,933
Alternative Uses
Best Use
Multifamily LT 5
$552.8K
$483.7K – $644.9K
NOI $38,694 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$507.9K
$444.4K – $592.6K
NOI $35,554 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$603.7K
$528.3K – $704.3K
NOI $42,260 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,566
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 property with updated interiors, separate utilities, a full basement, and substantial off-street parking.
Where is this duplex located?
The property is located at 105 Louis St New Brunswick, NJ.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑unit duplex with 2‑bedroom and 4‑bedroom apartments; Renovated interiors with stainless steel appliances and LVP flooring; Separate utilities and meters for each unit
