Colonial Revival
For Sale
Under Contract
$729,000
115-117 Harrell Avenue, Woodbridge, NJ 07095
Residential Income, Woodbridge Proper, NJ
Property Size3,439 SF
Lot Size0.38 Acres
Price / SF$211.98
Days on Market85
Property Features for 115-117 Harrell Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Buyer Should Verify
Bathrooms
2
Full bathrooms
2
Rooms
Dining Room, Bathroom 2, Bathroom 1
Parking features
Garage
Patio and Porch features
Porch, Deck
Interior features
Unit 1(Dining Room, 3 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(Dining Room, 3 Bedrooms, Kitchen, Living Room, 1 1/2 Baths)
Exterior features
Porch(es) - Enclosed, Deck, Yard
Appliances
Water Heater(Gas), Water Heater
Lot features
Wooded
Directions
Use Google Maps
Standard status
Active Under Contract
APN
25005690100115
Size
3,439 SF
Lot size
0.38 Acres
Taxes and HOA fees
Tax Annual Amount
11870
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Baseboard
Cooling system
Window Unit(s), Wall Unit(s)
Water source
Public
Amenities
covered porch
Building Details
Year built
1895
Floors in Building
2
Building materials
Vertical Siding
Roof type
Asphalt
Listing Agency:
J.J. ELEK REALTY CO.
(732) 634-9100
Listed By:
Felix Santana · License #307182
(732) 596-2118
Added: Jun 8
Changed: Aug 19
Last Checked: Aug 31 at 8:06AM
MLS# 2617309R
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 Colonial Revival duplex at 115-117 Harrell Avenue contains 3,439 square feet on a 0.3788-acre lot and was built in 1895. Both units include three bedrooms, a kitchen, living room, and dining room; one has one bath, while the other provides one and one-half baths. Enclosed porch space, a deck, and a yard add exterior utility to the property.
The building features vertical siding, an asphalt roof, radiant and baseboard heating, and window and wall-unit cooling. Public water and public sewer serve the property, and a garage provides on-site parking. Its Woodbridge Proper address places the duplex in Middlesex County, New Jersey.
The building features vertical siding, an asphalt roof, radiant and baseboard heating, and window and wall-unit cooling. Public water and public sewer serve the property, and a garage provides on-site parking. Its Woodbridge Proper address places the duplex in Middlesex County, New Jersey.
Key Highlights
- Duplex with 3,439 square feet on a 0.3788‑acre lot
- Built in 1895 with Colonial Revival character and vertical siding
- Two units, each with 3 bedrooms and a kitchen
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
$57,556
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
7.90%
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%
$1,151,120
$1.2M
Cap Rate 7%
$822,229
$822.2K
Cap Rate 9%
$639,511
$639.5K
Market Conditions
NOI Build-Up for 3,439 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
$87.9K $25.56/SF
− Vacancy
−$5.7K −$1.65/SF
EGI
$82.2K $23.91/SF
− OpEx
−$24.7K −$7.17/SF
NOI
$57.6K $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%
$1,151,120
Cap Rate 7%
$822,229
Cap Rate 9%
$639,511
Alternative Uses
Best Use
Multifamily LT 5
$822.2K
$719.5K – $959.3K
NOI $57,556 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$755.5K
$661.1K – $881.4K
NOI $52,885 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$898.0K
$785.7K – $1.05M
NOI $62,859 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
987
Businesses Nearby
Explore this area
Business Placement
Demographics for 07095, NJ
19,839
Population
8,132
Households
2.4
Avg Household Size
39
Median Age
34%
College-Educated
92%
High-School Grad
4.6 sq mi
ZIP Area
4,313
Density / Sq Mi
$99,718
Median Household Income
$56,988
Median Earnings
$2,077
Median Rent
$361,200
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 residential units each offer three bedrooms, kitchens, living areas, and dedicated dining space.
Where is this duplex located?
The property is located at 115-117 Harrell Avenue Woodbridge, NJ.
What is the asking price?
The asking price for this property is $729,000.
What are key features of this property?
This property features: Duplex with 3,439 square feet on a 0.3788‑acre lot; Built in 1895 with Colonial Revival character and vertical siding; Two units, each with 3 bedrooms and a kitchen
