Two-Unit Residential Income
For Sale
$485,000
187 Hale Street, New Brunswick, NJ 08901
Duplex with two two-bedroom units and one full bathroom per unit, currently marketed with $4,000 monthly rent.
Property Size1,248 SF
Price / SF$388.62
Days on Market135
Property Features for 187 Hale Street
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Real Broker,LLC
Listed By:
John Natale
(833) 740-1234
Source:
Actionplusrealty
Added: Mar 30
Changed: Aug 11
Last Checked: Aug 10 at 4:01AM
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 Real Broker,LLC
Investment Insights
Based on property information with market context.
This two-unit residential income duplex is configured as two separate two-bedroom residences, each with one full bathroom. The property is currently marketed with total rent of $4,000 per month.
The asset is located at 187 Hale Street in New Brunswick, NJ 08901.
The straightforward duplex layout supports flexible occupancy—either live in one unit while renting the other or rent both units—based on the rent structure described in the listing.
The asset is located at 187 Hale Street in New Brunswick, NJ 08901.
The straightforward duplex layout supports flexible occupancy—either live in one unit while renting the other or rent both units—based on the rent structure described in the listing.
Key Highlights
- Duplex built in 1920 with two two‑bedroom units
- Each unit has 1 full bathroom
- Currently marketed with $4,000 monthly rent
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
$20,887
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
4.31%
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%
$417,740
$417.7K
Cap Rate 7%
$298,386
$298.4K
Cap Rate 9%
$232,078
$232.1K
Market Conditions
NOI Build-Up for 1,248 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
$31.9K $25.56/SF
− Vacancy
−$2.1K −$1.65/SF
EGI
$29.8K $23.91/SF
− OpEx
−$9.0K −$7.17/SF
NOI
$20.9K $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 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%
$417,740
Cap Rate 7%
$298,386
Cap Rate 9%
$232,078
Alternative Uses
Best Use
Multifamily LT 5
$298.4K
$261.1K – $348.1K
NOI $20,887 @ 7.0% cap · market cap 4.31%
Second Best
Apartment 5plus
$274.2K
$239.9K – $319.9K
NOI $19,192 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$325.9K
$285.1K – $380.2K
NOI $22,811 @ 7.0% cap · market cap 4.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,379
Businesses Nearby
Explore this area
Business Placement
Demographics for 08901, NJ
56,278
Population
17,071
Households
3.3
Avg Household Size
27
Median Age
24%
College-Educated
66%
High-School Grad
6.3 sq mi
ZIP Area
8,933
Density / Sq Mi
$60,248
Median Household Income
$25,192
Median Earnings
$1,790
Median Rent
$316,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two two-bedroom units and one full bathroom per unit, currently marketed with $4,000 monthly rent.
Where is this duplex located?
The property is located at 187 Hale Street New Brunswick, NJ.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Duplex built in 1920 with two two‑bedroom units; Each unit has 1 full bathroom; Currently marketed with $4,000 monthly rent
