Two-Unit Duplex with
For Sale
$549,999
Pending
1309 Central Avenue, Highland Park, NJ 08904
Detached duplex with flexible living areas, central air, solar, and a one-car garage in Highland Park.
Property Size1,202 SF
Days on Market223
Property Features for 1309 Central Avenue
General Information
Standard status
Pending
Size
1,202 SF
Total Parking Spaces
4
Property subtype
Residential Income
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,816
Amenities
central air
solar
Central Air
Finished, Walk-Out Access, Full
Gas Water Heater
Detached
Building Details
Building Size
1,202 SF
Year Built
1930
Stories
2
Listing Agency:
RE/MAX Diamond Properties
Listed By:
Luisa Gonzalez Vanegas
(201) 592-8900
Source:
Evrealestate
Added: Mar 17
Changed: Oct 13
Last Checked: Oct 24 at 5:38PM
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 RE/MAX Diamond Properties
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Investment Insights
Based on property information with market context.
This detached duplex, built in 1930, provides two distinct residential units with additional finished space. The first-floor apartment includes one bedroom and a finished basement with walk-out access. Upstairs, the two-bedroom unit extends into a finished attic that can support living or office use. Central air, solar, and a gas water heater are included, along with a one-car garage.
The property is located in Highland Park, with access to Rutgers, New Brunswick, and nearby transit. Its configuration accommodates separate households while offering finished lower- and upper-level areas that expand practical use within the building.
The property is located in Highland Park, with access to Rutgers, New Brunswick, and nearby transit. Its configuration accommodates separate households while offering finished lower- and upper-level areas that expand practical use within the building.
Key Highlights
- Two‑family duplex with one 1‑bedroom unit and one 2‑bedroom unit
- Finished basement with walk‑out access in the first‑floor unit
- Finished attic provides additional living or office space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,117
Cap Rate
3.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$402,340
$402.3K
Cap Rate 7%
$287,386
$287.4K
Cap Rate 9%
$223,522
$223.5K
Market Conditions
NOI Build-Up for 1,202 SF
Gross rent
$30.7K $25.56/SF
− Vacancy
−$2.0K −$1.65/SF
EGI
$28.7K $23.91/SF
− OpEx
−$8.6K −$7.17/SF
NOI
$20.1K $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 Rate 5%
$402,340
Cap Rate 7%
$287,386
Cap Rate 9%
$223,522
Alternative Uses
Best Use
Multifamily LT 5
$287.4K
$251.5K – $335.3K
NOI $20,117 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$264.1K
$231.1K – $308.1K
NOI $18,484 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$313.9K
$274.6K – $366.2K
NOI $21,971 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 08904, NJ
15,072
Population
6,858
Households
2.2
Avg Household Size
36
Median Age
70%
College-Educated
94%
High-School Grad
1.8 sq mi
ZIP Area
8,373
Density / Sq Mi
$101,991
Median Household Income
$58,786
Median Earnings
$1,881
Median Rent
$463,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Detached duplex with flexible living areas, central air, solar, and a one-car garage in Highland Park.
Where is this duplex located?
The property is located at 1309 Central Avenue Highland Park, NJ.
What is the asking price?
The asking price for this property is $549,999.
What are key features of this property?
This property features: Two‑family duplex with one 1‑bedroom unit and one 2‑bedroom unit; Finished basement with walk‑out access in the first‑floor unit; Finished attic provides additional living or office space
