Duplex with Full
For Sale
$729,999
237 Middlesex Avenue, Iselin, NJ 08830
Two residential units provide separate layouts, private driveways, and access to a full basement.
Property Size2,288 SF
Price / SF$319.06
Days on Market8
Property Features for 237 Middlesex Avenue
General Information
Standard status
Active
Size
2,288 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/3BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1955
Listing Agency:
EXP REALTY,LLC
Listed By:
JASON ECKERT
(833) 740-1234
Source:
Actionplusrealty
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 12 at 4:08AM
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 EXP REALTY,LLC
Investment Insights
Based on property information with market context.
Built in 1955, this duplex contains two residential units with distinct configurations. The first-floor residence includes 3 bedrooms, 3 full bathrooms, a full basement, and a private driveway on the left side. Upstairs, the second-floor unit has 2 bedrooms, 1 full bathroom, and its own driveway on the right side. The property contains 2,288 square feet and is offered strictly as-is.
The location provides proximity to the Metropark train station, shopping, restaurants, major highways, and other local amenities. Buyers are responsible for evaluating the property's condition and confirming any municipal requirements.
The location provides proximity to the Metropark train station, shopping, restaurants, major highways, and other local amenities. Buyers are responsible for evaluating the property's condition and confirming any municipal requirements.
Key Highlights
- 2,288‑square‑foot duplex built in 1955
- First‑floor unit with 3 bedrooms, 3 full bathrooms, and a full basement
- Second‑floor unit includes 2 bedrooms and 1 full bathroom
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
$38,292
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
5.25%
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%
$765,840
$765.8K
Cap Rate 7%
$547,029
$547.0K
Cap Rate 9%
$425,467
$425.5K
Market Conditions
NOI Build-Up for 2,288 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
$58.5K $25.56/SF
− Vacancy
−$3.8K −$1.65/SF
EGI
$54.7K $23.91/SF
− OpEx
−$16.4K −$7.17/SF
NOI
$38.3K $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%
$765,840
Cap Rate 7%
$547,029
Cap Rate 9%
$425,467
Alternative Uses
Best Use
Multifamily LT 5
$547.0K
$478.7K – $638.2K
NOI $38,292 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$502.6K
$439.8K – $586.4K
NOI $35,185 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$597.4K
$522.8K – $697.0K
NOI $41,821 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,560
Businesses Nearby
Explore this area
Business Placement
Demographics for 08830, NJ
20,088
Population
6,618
Households
3
Avg Household Size
39
Median Age
55%
College-Educated
89%
High-School Grad
3.2 sq mi
ZIP Area
6,278
Density / Sq Mi
$112,615
Median Household Income
$61,805
Median Earnings
$2,051
Median Rent
$394,200
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 residential units provide separate layouts, private driveways, and access to a full basement.
Where is this duplex located?
The property is located at 237 Middlesex Avenue Iselin, NJ.
What is the asking price?
The asking price for this property is $729,999.
What are key features of this property?
This property features: 2,288‑square‑foot duplex built in 1955; First‑floor unit with 3 bedrooms, 3 full bathrooms, and a full basement; Second‑floor unit includes 2 bedrooms and 1 full bathroom
