Triplex with Three-Level
New
For Sale
$1,199,000
262 Prospect Ave, Dunellen, NJ 08812
Multi-Family, 3-Three Story, Dunellen Boro, NJ
Property Size5,571 SF
Price / SF$215.22
Days on Market3
Property Features for 262 Prospect Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
8
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 1, Bedroom 8, Bedroom 4, Basement, Bedroom 6, Bedroom 5, Bedroom 2, Bathroom 7, Bathroom 4, Bathroom 2, Bedroom 7, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 5, Bathroom 6
Parking
6
Patio and Porch features
Deck, Patio
Interior features
Blinds, Carbon Monoxide Detector, High Ceilings, Smoke Detector, Walk-In Closet, Wood Floors
Exterior features
BarnStbl, Deck, OpenPrch, Patio, Pergola, ThrmlW&D, FencWood, Workshop
Fencing
Fenced
Lot features
Level Lot
Elementary school
J.P.FABER
Middle school
LINCOLN MS
High school
DUNELLEN
Directions
North Avenue (Route 28), then right on Prospect Avenue.
Standard status
Active
Size
5,571 SF
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16891
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Attic Fan, Central Air
Water source
Public
Amenities
in-unit laundry
patio
covered pergola
deck
barn/garage with loft storage and workshop
Building Details
Year built
1935
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Additional Structures
Barn(s), Workshop, Pergola
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
GISEL LAINEZ-JIMENEZ
(908) 246-4935
Added: Oct 11
Changed: Oct 12
Last Checked: Oct 13 at 4:06AM
MLS# 4058241
Copyright © 2026 Garden State MLS, LLC. 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.
Rebuilt and enlarged in 2018, this 5,571-square-foot triplex contains three residences with hardwood floors, updated kitchens and baths, Andersen windows, individual laundry, and separate utilities. The first unit has 2 bedrooms, 1 bath, and a breakfast nook on one level. The second includes 3 bedrooms, 2 baths, and finished third-floor space. The third spans three levels and offers 3+ bedrooms, 4 full baths, a 23-foot primary suite, fireplace, enclosed porch, finished attic, and an attached garage with loft.
Outdoor features include paver patios, a covered pergola, a deck, and parking for 6. A separate barn/garage provides loft storage and workshop space. The property has natural gas, central air, public water, and public sewer.
The property is in Dunellen Boro, New Jersey. Its reported approximate cap rate is 7%.
Outdoor features include paver patios, a covered pergola, a deck, and parking for 6. A separate barn/garage provides loft storage and workshop space. The property has natural gas, central air, public water, and public sewer.
The property is in Dunellen Boro, New Jersey. Its reported approximate cap rate is 7%.
Key Highlights
- Three residences totaling 5,571 square feet; rebuilt and expanded in 2018
- Unit 1: 2 bedrooms, 1 bath, and breakfast nook on one level
- Unit 2: 3 bedrooms, 2 baths, and finished third‑floor area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,237
Cap Rate
7.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,864,740
$1.9M
Cap Rate 7%
$1,331,957
$1.3M
Cap Rate 9%
$1,035,967
$1.0M
Market Conditions
NOI Build-Up for 5,571 SF
Gross rent
$142.4K $25.56/SF
− Vacancy
−$9.2K −$1.65/SF
EGI
$133.2K $23.91/SF
− OpEx
−$40.0K −$7.17/SF
NOI
$93.2K $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 Rate 5%
$1,864,740
Cap Rate 7%
$1,331,957
Cap Rate 9%
$1,035,967
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.17M – $1.55M
NOI $93,237 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,671 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,829 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Explore this area
Business Placement
Demographics for 08812, NJ
14,593
Population
4,916
Households
3
Avg Household Size
40
Median Age
42%
College-Educated
88%
High-School Grad
5.1 sq mi
ZIP Area
2,861
Density / Sq Mi
$119,534
Median Household Income
$50,266
Median Earnings
$1,557
Median Rent
$435,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Triplex - Three distinct residences feature individual laundry and utilities, with layouts ranging from two-bedroom living to a multi-level home.
Where is this triplex located?
The property is located at 262 Prospect Ave Dunellen, NJ.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Three residences totaling 5,571 square feet; rebuilt and expanded in 2018; Unit 1: 2 bedrooms, 1 bath, and breakfast nook on one level; Unit 2: 3 bedrooms, 2 baths, and finished third‑floor area
