Renovated Two-Family
For Sale
$825,000
21 Market St, Edison, NJ 08817
Two distinct residences provide flexibility for owner occupancy, rental use, or a combination of both.
Property Size2,350 SF
Price / SF$351.06
Days on Market81
Property Features for 21 Market St
General Information
Standard status
Active
Size
2,350 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1949
Listing Agency:
RE/MAX 1ST ADVANTAGE
Listed By:
MICHELE KELEMAN · License #8544216
(908) 407-3366
Source:
Mynewjerseyrealestate
Added: Aug 5
Changed: Oct 5
Last Checked: Oct 7 at 3:08PM
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 RE/MAX 1ST ADVANTAGE
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Investment Insights
Based on property information with market context.
This fully renovated duplex offers 3,250 sq. ft. arranged as two separate living quarters. The property was rebuilt from the studs and includes two updated kitchens with quartz countertops, marble backsplashes, custom 42-inch wood cabinetry, and recessed lighting. Three new full bathrooms, new flooring, and ample storage further support the residential configuration.
The second residence has a private entrance, while the attached sun porch connects to a 2-car garage and provides additional space for gatherings or everyday use. Major improvements include new plumbing, electrical service, roof, siding, and windows. Located in Edison, the property also carries a Walk Score of 68 and a Bike Score of 53.
The second residence has a private entrance, while the attached sun porch connects to a 2-car garage and provides additional space for gatherings or everyday use. Major improvements include new plumbing, electrical service, roof, siding, and windows. Located in Edison, the property also carries a Walk Score of 68 and a Bike Score of 53.
Key Highlights
- 3,250 sq. ft. duplex with two separate living quarters
- Fully rebuilt from the studs with new plumbing and electrical
- Two kitchens with quartz countertops, marble backsplashes, and 42‑inch custom cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,041
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$860,820
$860.8K
Cap Rate 7%
$614,871
$614.9K
Cap Rate 9%
$478,233
$478.2K
Market Conditions
NOI Build-Up for 2,350 SF
Gross rent
$64.9K $27.60/SF
− Vacancy
−$3.4K −$1.44/SF
EGI
$61.5K $26.16/SF
− OpEx
−$18.4K −$7.85/SF
NOI
$43.0K $18.32/SF
Area
Edison, NJ
Vacancy
5.20%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$860,820
Cap Rate 7%
$614,871
Cap Rate 9%
$478,233
Alternative Uses
Best Use
Multifamily LT 5
$614.9K
$538.0K – $717.4K
NOI $43,041 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$547.3K
$478.9K – $638.5K
NOI $38,310 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$761.6K
$666.4K – $888.6K
NOI $53,314 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
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Business Placement
Demographics for 08817, NJ
48,243
Population
17,260
Households
2.8
Avg Household Size
37
Median Age
49%
College-Educated
91%
High-School Grad
10.6 sq mi
ZIP Area
4,551
Density / Sq Mi
$109,734
Median Household Income
$54,631
Median Earnings
$1,946
Median Rent
$411,100
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 distinct residences provide flexibility for owner occupancy, rental use, or a combination of both.
Where is this duplex located?
The property is located at 21 Market St Edison, NJ.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 3,250 sq. ft. duplex with two separate living quarters; Fully rebuilt from the studs with new plumbing and electrical; Two kitchens with quartz countertops, marble backsplashes, and 42‑inch custom cabinetry
