Renovated Duplex with Two-Car
For Sale
$1,099,900
1091 Alfieri Ct, Union, NJ 07083
Renovated two-family property with separate utilities, finished basement, and substantial off-street parking.
Property Size2,744 SF
Price / SF$400.84
Days on Market8
Property Features for 1091 Alfieri Ct
General Information
Standard status
Active
Size
2,744 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Amenities
hardwood floors
crown molding
central air
stainless steel appliances
en-suite bathrooms
in-unit laundry
finished basement
backyard oasis
Building Details
Year Built
1975
Buildings
1
Listing Agency:
REAL
Listed By:
JORGE CASALINS · License #1435833
(855) 450-0442
Source:
Goldstandardrealty
Added: Sep 1
Changed: Sep 8
Last Checked: Sep 8 at 8:09AM
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 REAL
Investment Insights
Based on property information with market context.
This renovated duplex contains two residential units, each offering four bedrooms and two full bathrooms. Interior features include refinished hardwood flooring, crown molding, central air, updated kitchens with center islands, custom cabinetry, and stainless steel appliances. Each unit also includes a primary suite with a private bathroom, while the second-floor residence has an in-unit laundry room.
The fully finished basement adds a summer kitchen, full bathroom, flexible office or studio space, and hookups for two laundry areas. Exterior improvements include a two-car garage, an expansive driveway, and a large backyard. Separate utilities serve the two units. The property is located at 1091 Alfieri Ct in Union Township, with access to NYC transit, a Walk Score of 84, and a Bike Score of 52. Built in 1975.
The fully finished basement adds a summer kitchen, full bathroom, flexible office or studio space, and hookups for two laundry areas. Exterior improvements include a two-car garage, an expansive driveway, and a large backyard. Separate utilities serve the two units. The property is located at 1091 Alfieri Ct in Union Township, with access to NYC transit, a Walk Score of 84, and a Bike Score of 52. Built in 1975.
Key Highlights
- Two‑unit duplex with four bedrooms and two full bathrooms per residence
- Renovated interiors with refinished hardwood floors, crown molding, and central air
- Updated kitchens include center islands, custom cabinetry, and stainless steel appliances
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
$45,924
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
4.18%
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%
$918,480
$918.5K
Cap Rate 7%
$656,057
$656.1K
Cap Rate 9%
$510,267
$510.3K
Market Conditions
NOI Build-Up for 2,744 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
$70.1K $25.56/SF
− Vacancy
−$4.5K −$1.65/SF
EGI
$65.6K $23.91/SF
− OpEx
−$19.7K −$7.17/SF
NOI
$45.9K $16.74/SF
Area
Union 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%
$918,480
Cap Rate 7%
$656,057
Cap Rate 9%
$510,267
Alternative Uses
Best Use
Multifamily LT 5
$656.1K
$574.1K – $765.4K
NOI $45,924 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$602.8K
$527.5K – $703.3K
NOI $42,197 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$716.5K
$627.0K – $835.9K
NOI $50,156 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,224
Businesses Nearby
Explore this area
Business Placement
Demographics for 07083, NJ
56,131
Population
20,792
Households
2.7
Avg Household Size
41
Median Age
41%
College-Educated
89%
High-School Grad
8.7 sq mi
ZIP Area
6,452
Density / Sq Mi
$118,106
Median Household Income
$58,443
Median Earnings
$1,938
Median Rent
$425,600
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 - Renovated two-family property with separate utilities, finished basement, and substantial off-street parking.
Where is this duplex located?
The property is located at 1091 Alfieri Ct Union, NJ.
What is the asking price?
The asking price for this property is $1,099,900.
What are key features of this property?
This property features: Two‑unit duplex with four bedrooms and two full bathrooms per residence; Renovated interiors with refinished hardwood floors, crown molding, and central air; Updated kitchens include center islands, custom cabinetry, and stainless steel appliances
