Two-Unit Duplex with
For Sale
$699,900
16 Somerset Street, Carteret, NJ 07008
Residential Income, Carteret, NJ
Property Size1,842 SF
Lot Size0.10 Acres
Price / SF$379.97
Days on Market54
Property Features for 16 Somerset Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R50
Zoning description
Buyer Should Verify
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Patio and Porch features
Deck
Interior features
Unit 1(3 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(2 Bedrooms, Kitchen, 1 Bath, Living Room)
Exterior features
Deck
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
Subdivision
Arthur Kill Tract/Roosev
Elementary school district
Carteret Borough School Distri
Middle school district
Carteret Borough School Distri
High school district
Carteret Borough School Distri
Directions
Use Gps.
Standard status
Active
APN
0107702000000015
Size
1,842 SF
Lot size
0.10 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8223
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1912
Floors in Building
2
Building materials
Brick, Metal Siding
Roof type
Flat
Listing Agency:
CENTURY 21 ALLIANCE REALTY · Century 21 Real Estate
(908) 587-5222
Listed By:
Stanislav Nemcik
(908) 451-2655
Added: Sep 9
Changed: Oct 26
Last Checked: Nov 1 at 11:06PM
MLS# 2704152R
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.
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Investment Insights
Based on property information with market context.
This brick and metal-sided duplex contains 1,842 square feet across two apartments. The first-floor unit has three bedrooms, a kitchen, living room, and one bathroom; the second-floor unit has two bedrooms, a kitchen, living room, and one bathroom. Both kitchens include a range/oven and refrigerator. The first-floor kitchen also has a breakfast bar, stainless steel appliances, and cabinets renovated two years ago. The second-floor kitchen has new cabinets and a stainless steel sink, and the unit was freshly painted. A deck, basement, baseboard hot-water heating, and ceiling fans are also included.
The apartments are occupied under month-to-month leases. The property is on a 0.1033-acre lot and is served by public water and public sewer. It was built in 1912 and is zoned R50.
The apartments are occupied under month-to-month leases. The property is on a 0.1033-acre lot and is served by public water and public sewer. It was built in 1912 and is zoned R50.
Key Highlights
- Two apartments: 3‑bedroom first‑floor unit and 2‑bedroom second‑floor unit
- 1,842 square feet on a 0.1033‑acre lot
- First‑floor kitchen has stainless steel appliances, breakfast bar, and cabinets renovated 2 years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,828
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$616,560
$616.6K
Cap Rate 7%
$440,400
$440.4K
Cap Rate 9%
$342,533
$342.5K
Market Conditions
NOI Build-Up for 1,842 SF
Gross rent
$47.1K $25.56/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$44.0K $23.91/SF
− OpEx
−$13.2K −$7.17/SF
NOI
$30.8K $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%
$616,560
Cap Rate 7%
$440,400
Cap Rate 9%
$342,533
Alternative Uses
Best Use
Multifamily LT 5
$440.4K
$385.4K – $513.8K
NOI $30,828 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$404.7K
$354.1K – $472.1K
NOI $28,326 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$481.0K
$420.9K – $561.2K
NOI $33,669 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 07008, NJ
25,342
Population
8,717
Households
2.9
Avg Household Size
37
Median Age
28%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
5,760
Density / Sq Mi
$87,712
Median Household Income
$42,770
Median Earnings
$2,012
Median Rent
$370,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments offer a three-bedroom layout downstairs and a two-bedroom layout upstairs.
Where is this duplex located?
The property is located at 16 Somerset Street Carteret, NJ.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two apartments: 3‑bedroom first‑floor unit and 2‑bedroom second‑floor unit; 1,842 square feet on a 0.1033‑acre lot; First‑floor kitchen has stainless steel appliances, breakfast bar, and cabinets renovated 2 years ago
