Two-Unit Residential Income
For Sale
$360,000
135 Broad Street, Washington, NJ 07882
Vacant two-family home with two 2-bedroom, one-bath units, ready for updates.
Property Size1,000 SF
Price / SF$360
Days on Market188
Property Features for 135 Broad Street
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Multi Family / 2-Two Story
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,416
Amenities
Yes
No
Asphalt Shingle
Carbon Monoxide Detector, Smoke Detector, Wood Floors
Unfinished
Open Porch(es)
Vinyl Siding
Building Details
Year Built
1920
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
MILAGROS RODRIGUEZ · License #398150
(973) 376-5200
Source:
Compass
Added: Mar 1
Changed: Aug 8
Last Checked: Jul 21 at 4:17AM
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 two-family residential income property consists of two separate units, each offering two bedrooms and one full bathroom. The home is delivered vacant and is positioned for an investor who wants to complete updates and refresh the property.
The listing is for a single duplex-style building at 135 Broad Street in Washington, NJ.
The existing configuration provides two rentable apartments with identical bedroom and bathroom counts per unit, supporting straightforward layout planning for a buyer seeking a value-add renovation project.
The listing is for a single duplex-style building at 135 Broad Street in Washington, NJ.
The existing configuration provides two rentable apartments with identical bedroom and bathroom counts per unit, supporting straightforward layout planning for a buyer seeking a value-add renovation project.
Key Highlights
- Vacant 2‑family home built in 1920 with 2 separate units
- Each unit offers 2 bedrooms and 1 full bathroom
- Unfinished basement and wood floors
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
$14,732
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
4.09%
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%
$294,640
$294.6K
Cap Rate 7%
$210,457
$210.5K
Cap Rate 9%
$163,689
$163.7K
Market Conditions
NOI Build-Up for 1,000 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
$22.2K $22.20/SF
− Vacancy
−$1.2K −$1.15/SF
EGI
$21.0K $21.05/SF
− OpEx
−$6.3K −$6.31/SF
NOI
$14.7K $14.73/SF
Area
Warren County, NJ
Vacancy
5.20%
Lease Rate
$22.20 /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%
$294,640
Cap Rate 7%
$210,457
Cap Rate 9%
$163,689
Alternative Uses
Best Use
Multifamily LT 5
$210.5K
$184.2K – $245.5K
NOI $14,732 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$189.1K
$165.5K – $220.6K
NOI $13,236 @ 7.0% cap · market cap 3.68%
Theoretical Best
Warehouse
$377.3K
$330.1K – $440.2K
NOI $26,409 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
620
Businesses Nearby
Explore this area
Business Placement
Demographics for 07882, NJ
14,971
Population
6,290
Households
2.4
Avg Household Size
44
Median Age
38%
College-Educated
95%
High-School Grad
31.6 sq mi
ZIP Area
474
Density / Sq Mi
$100,852
Median Household Income
$55,316
Median Earnings
$1,411
Median Rent
$333,800
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 - Vacant two-family home with two 2-bedroom, one-bath units, ready for updates.
Where is this duplex located?
The property is located at 135 Broad Street Washington, NJ.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Vacant 2‑family home built in 1920 with 2 separate units; Each unit offers 2 bedrooms and 1 full bathroom; Unfinished basement and wood floors
