Duplex with Large Rear
For Sale
Under Contract
$629,900
173 Clinton Street, South Bound Brook, NJ 08880
Residential Income, South Bound Brook, NJ
Property Size3,598 SF
Lot Size0.30 Acres
Price / SF$175.07
Days on Market63
Property Features for 173 Clinton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Zoning description
Buyer Should Verify
Bathrooms
3
Full bathrooms
3
Rooms
Dining Room, Bathroom 3, Bathroom 1, Basement, Den, Bathroom 2
Patio and Porch features
Porch
Interior features
Unit 1(3 Bedrooms, Kitchen, Living Room, Den/Family Room), Unit 2(Dining Room, Kitchen, 5+ Bedrooms, Living Room, 2+ Baths)
Exterior features
Porch(es) - Open, Sidewalk, Porch
Appliances
Water Heater(Gas), Water Heater
Lot features
Near Shopping, Near Train, Near Public Transit
Elementary school district
South Bound Brook Borough Scho
Middle school district
South Bound Brook Borough Scho
High school district
South Bound Brook Borough Scho
Directions
to Clinton
Standard status
Active Under Contract
APN
1900052000000007
Size
3,598 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
11848
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Amenities
large open front porch
full unfinished basement
rear staircase
exceptionally large rear yard
Building Details
Year built
1920
Floors in Building
3
Flooring type
Carpet
Building materials
Wood Siding
Roof type
Flat
Listing Agency:
BEST REALTY · RE/MAX International
(732) 819-8895
Listed By:
Bruce Parker · License #9482948
(908) 202-5738
Added: Jun 30
Changed: Aug 26
Last Checked: Aug 31 at 7:06PM
MLS# 2700060R
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 1920 two-family property contains 3,598 square feet across two apartments. The first-floor residence is vacant and includes three bedrooms, an additional den or flexible room, an updated oversized eat-in kitchen, and a full bathroom with tub and shower. The second apartment spans the second and third floors, with five bedrooms, two full bathrooms, a living room, a renovated oversized kitchen, and a dedicated dining area. A full unfinished basement, open front porch, rear staircase, and expansive rear yard add usable space.
Each apartment has its own heating system, hot water heater, gas meter, and electric meter. The second-floor unit is tenant occupied, while the first-floor unit is ready for occupancy. The property is zoned R-2 and sits on 0.2966 acres at 173 Clinton Street in South Bound Brook. Shopping, restaurants, and public transportation are a few blocks away, with access to Route 287 nearby. Public water and public sewer serve the property.
Each apartment has its own heating system, hot water heater, gas meter, and electric meter. The second-floor unit is tenant occupied, while the first-floor unit is ready for occupancy. The property is zoned R-2 and sits on 0.2966 acres at 173 Clinton Street in South Bound Brook. Shopping, restaurants, and public transportation are a few blocks away, with access to Route 287 nearby. Public water and public sewer serve the property.
Key Highlights
- 3,598 square feet on a 0.2966‑acre lot
- Two apartments: first floor vacant; second- and third‑floor unit tenant occupied
- First unit has 3 bedrooms plus a den or flexible fourth room
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
$51,350
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
8.15%
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%
$1,027,000
$1.0M
Cap Rate 7%
$733,571
$733.6K
Cap Rate 9%
$570,556
$570.6K
Market Conditions
NOI Build-Up for 3,598 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
$77.7K $21.60/SF
− Vacancy
−$4.4K −$1.21/SF
EGI
$73.4K $20.39/SF
− OpEx
−$22.0K −$6.12/SF
NOI
$51.3K $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%
$1,027,000
Cap Rate 7%
$733,571
Cap Rate 9%
$570,556
Alternative Uses
Best Use
Multifamily LT 5
$733.6K
$641.9K – $855.8K
NOI $51,350 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$638.4K
$558.6K – $744.9K
NOI $44,691 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$939.5K
$822.1K – $1.10M
NOI $65,766 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
817
Businesses Nearby
Explore this area
Business Placement
Demographics for 08880, NJ
4,872
Population
1,870
Households
2.6
Avg Household Size
38
Median Age
24%
College-Educated
89%
High-School Grad
0.6 sq mi
ZIP Area
8,120
Density / Sq Mi
$102,019
Median Household Income
$51,442
Median Earnings
$1,822
Median Rent
$345,300
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 offer updated kitchens, separate utilities, and flexible layouts near shopping, dining, and public transportation.
Where is this duplex located?
The property is located at 173 Clinton Street South Bound Brook, NJ.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: 3,598 square feet on a 0.2966‑acre lot; Two apartments: first floor vacant; second- and third‑floor unit tenant occupied; First unit has 3 bedrooms plus a den or flexible fourth room
