Two-Unit Duplex with
For Sale
$495,000
24 Welton Street, New Brunswick, NJ 08901
Residential Income, New Brunswick, NJ
Property Size1,548 SF
Lot Size0.06 Acres
Price / SF$319.77
Days on Market9
Property Features for 24 Welton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5A
Zoning description
Buyer Should Verify
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Basement, Bathroom 3, Bedroom 1, Bedroom 4, Den, Bedroom 3, Bedroom 2
Window features
Screens
Interior features
Unit 1(1 Bath, 2 Bedrooms, Kitchen, Living Room), Unit 2(1 Bedroom, 2+ Baths, Den/Family Room, Kitchen)
Exterior features
Barbecue, Fencing/Wall, Screen/Storm Window, Sidewalk, Yard
Fencing
Fenced
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
Subdivision
City/New Brunswick
Lot features
Near Public Transit
Elementary school district
New Brunswick Ps
Middle school district
New Brunswick Ps
High school district
New Brunswick Ps
Directions
Take George Street To Hassart To Welton St. Or Livingston Ave To Welton St.
Standard status
Active
APN
1300139000000031
Size
1,548 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5833
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
hardwood floors
central air conditioning
thermal windows
eat-in kitchens
fenced backyard
professional landscaping
Building Details
Year built
1900
Floors in Building
2
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
BORAIE REALTY, LLC
(732) 846-3700
Listed By:
Cleo Willis
(732) 846-3700
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 29 at 5:06AM
MLS# 2770372M
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 two-story duplex contains two residential units with a combined layout of 4 bedrooms and 3 bathrooms. The property includes eat-in kitchens, hardwood flooring in portions of the interior, thermal windows, central air conditioning, and separate utilities. An exterior entry leads to the unfinished full basement. Vinyl siding, asphalt roofing, gas water heating, public water, and public sewer are also in place. The home was built in 1900 and updated in 2004.
Set on 0.0574 acres at 24 Welton Street in New Brunswick, the property has a fenced backyard, landscaping, sidewalks, and a barbecue area. Rutgers, Lord Stirling School, downtown New Brunswick, shopping, bus and train service, Route 18, and NYC transportation are identified nearby. The property is offered for sale as-is.
Set on 0.0574 acres at 24 Welton Street in New Brunswick, the property has a fenced backyard, landscaping, sidewalks, and a barbecue area. Rutgers, Lord Stirling School, downtown New Brunswick, shopping, bus and train service, Route 18, and NYC transportation are identified nearby. The property is offered for sale as-is.
Key Highlights
- Two‑unit duplex with 4 bedrooms and 3 bathrooms
- 1,548 square feet on a 0.0574‑acre lot
- R‑5A zoning
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
Lease Details
2
Residential units
Yes
Highway access
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities, central air, and a fenced yard add practical appeal.
Where is this duplex located?
The property is located at 24 Welton Street 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 on a 0.0574‑acre lot; R‑5A zoning
