Two-Unit Duplex with
New
For Sale
$620,000
144-46 Watchung Ave, Plainfield, NJ 07060
MULTI_FAMILY - North Plainfield Boro, NJ
Property Size2,432 SF
Price / SF$254.93
Days on Market4
Property Features for 144-46 Watchung Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 5, Bedroom 2
Standard status
Active
Size
2,432 SF
Amenities
front porches
patio
laundry area
garden beds
Building Details
Year built
1920
Listing Agency:
BHHS Fox & Roach Watchung Sales Office · Berkshire Hathaway HomeServices
(908) 753-4450
Listed By:
Andrea Lacerda
(908) 578-1166
Added: Aug 11
Changed: Aug 13
Last Checked: Aug 14 at 8:06AM
MLS# 4046272
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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 2,432-square-foot duplex, built in 1920, contains two separate apartments. The first-floor unit offers 2 bedrooms and 1 bath, along with living and dining rooms, a remodeled eat-in kitchen with granite counters and a butler’s pantry, hardwood flooring, and access to a front porch. The second-floor unit includes 3 bedrooms and 1 bath, living and dining rooms, an eat-in kitchen with a butler’s pantry, hardwood floors, fresh paint, and a walkout to its own upper porch.
Additional features include a full basement with laundry facilities, two furnaces, two hot water heaters, separate electric meters, and separate gas meters. The third-floor attic provides storage only and has a dedicated entrance from the rear stairwell. Outside, the property includes a private backyard, patio, driveway access from Jackson Ave, and front garden beds. A NYC bus stop is located at the corner of Watchung and Jackson.
Additional features include a full basement with laundry facilities, two furnaces, two hot water heaters, separate electric meters, and separate gas meters. The third-floor attic provides storage only and has a dedicated entrance from the rear stairwell. Outside, the property includes a private backyard, patio, driveway access from Jackson Ave, and front garden beds. A NYC bus stop is located at the corner of Watchung and Jackson.
Key Highlights
- Two‑unit duplex with 2,432 square feet, built in 1920
- First‑floor apartment has 2 bedrooms, 1 bath, remodeled kitchen, granite counters, and hardwood floors
- Second‑floor apartment offers 3 bedrooms, 1 bath, fresh paint, hardwood floors, and upper front porch access
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
$34,709
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
5.60%
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%
$694,180
$694.2K
Cap Rate 7%
$495,843
$495.8K
Cap Rate 9%
$385,656
$385.7K
Market Conditions
NOI Build-Up for 2,432 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
$52.5K $21.60/SF
− Vacancy
−$2.9K −$1.21/SF
EGI
$49.6K $20.39/SF
− OpEx
−$14.9K −$6.12/SF
NOI
$34.7K $14.27/SF
Area
Somerset County, NJ
Vacancy
5.61%
Lease Rate
$21.60 /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%
$694,180
Cap Rate 7%
$495,843
Cap Rate 9%
$385,656
Alternative Uses
Best Use
Multifamily LT 5
$495.8K
$433.9K – $578.5K
NOI $34,709 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$431.5K
$377.6K – $503.5K
NOI $30,208 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$635.0K
$555.7K – $740.9K
NOI $44,453 @ 7.0% cap · market cap 7.17%
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
2,170
Businesses Nearby
Explore this area
Business Placement
Demographics for 07060, NJ
48,423
Population
16,154
Households
3
Avg Household Size
35
Median Age
22%
College-Educated
74%
High-School Grad
5.0 sq mi
ZIP Area
9,685
Density / Sq Mi
$72,882
Median Household Income
$32,867
Median Earnings
$1,629
Median Rent
$369,400
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 apartments feature separate utilities, refreshed interiors, storage, and private outdoor space.
Where is this duplex located?
The property is located at 144-46 Watchung Ave Plainfield, NJ.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,432 square feet, built in 1920; First‑floor apartment has 2 bedrooms, 1 bath, remodeled kitchen, granite counters, and hardwood floors; Second‑floor apartment offers 3 bedrooms, 1 bath, fresh paint, hardwood floors, and upper front porch access
