Two-Unit Duplex with
New
For Sale
$495,000
24 Welton St, New Brunswick, NJ 08901
Two-story property with separate utilities and a fenced, landscaped backyard.
Property Size1,548 SF
Price / SF$319.77
Days on Market2
Property Features for 24 Welton St
General Information
Standard status
Active
Size
1,548 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
BORAIE REALTY, LLC
Listed By:
CLEO R. WILLIS
(908) 322-5454
Source:
Mynewjerseyrealestate
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 1:59AM
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 BORAIE REALTY, LLC
Investment Insights
Based on property information with market context.
This two-story duplex contains 4 bedrooms and 3 bathrooms across 1,548 square feet. Each unit has separate utilities, while an exterior entrance leads to an unfinished full basement. Interior features include some hardwood flooring, central air conditioning, thermal windows, and eat-in kitchens. Vinyl siding and professional landscaping complete the exterior, with a fenced backyard providing defined outdoor space.
The property is located near Rutgers, Lord Stirling School, downtown New Brunswick, shopping, bus and train service, Route 18, and transportation to New York City. Built in 1900 and updated in 2004, the property is offered for sale in its current condition, as-is and where-is.
The property is located near Rutgers, Lord Stirling School, downtown New Brunswick, shopping, bus and train service, Route 18, and transportation to New York City. Built in 1900 and updated in 2004, the property is offered for sale in its current condition, as-is and where-is.
Key Highlights
- Two‑unit duplex with 4 bedrooms and 3 bathrooms
- 1,548 square feet across a two‑story layout
- Separate utilities for each unit
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
$25,908
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
5.23%
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%
$518,160
$518.2K
Cap Rate 7%
$370,114
$370.1K
Cap Rate 9%
$287,867
$287.9K
Market Conditions
NOI Build-Up for 1,548 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
$39.6K $25.56/SF
− Vacancy
−$2.6K −$1.65/SF
EGI
$37.0K $23.91/SF
− OpEx
−$11.1K −$7.17/SF
NOI
$25.9K $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%
$518,160
Cap Rate 7%
$370,114
Cap Rate 9%
$287,867
Alternative Uses
Best Use
Multifamily LT 5
$370.1K
$323.9K – $431.8K
NOI $25,908 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$340.1K
$297.6K – $396.8K
NOI $23,805 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$404.2K
$353.7K – $471.6K
NOI $28,295 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,654
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-story property with separate utilities and a fenced, landscaped backyard.
Where is this duplex located?
The property is located at 24 Welton St New Brunswick, NJ.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two‑unit duplex with 4 bedrooms and 3 bathrooms; 1,548 square feet across a two‑story layout; Separate utilities for each unit
