3-Unit Triplex with
New
For Sale
$1,199,000
262 Prospect Avenue, Dunellen, NJ 08812
Residential Income, Dunellen, NJ
Property Size5,571 SF
Lot Size0.37 Acres
Price / SF$215.22
Days on Market7
Property Features for 262 Prospect Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA
Zoning description
Buyer Should Verify
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 5, Bathroom 4, Basement, Bathroom 3, Den, Bathroom 1, Bathroom 2, Bathroom 6, Bathroom 7
Parking features
Garage, Open
Window features
Insulated Windows
Patio and Porch features
Deck, Patio, Porch
Interior features
Unit 1(2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(3 Bedrooms, Kitchen, Living Room, 2+ Baths, Den/Family Room), Unit 3(3 Bedrooms, Kitchen, Living Room, 2+ Baths)
Exterior features
Patio, Porch(es) - Enclosed, Porch(es) - Open, Deck, Windows - Insulated Pane, Yard, Outbuilding(s), Private Entrance
Appliances
Water Heater(Gas), Water Heater, Unit 1(Dryer, Range/Oven, Refrigerator, Washer), Unit 2(Dryer, Range/Oven, Refrigerator, Washer), Unit 3(Dryer, Range/Oven, Refrigerator, Washer)
Lot features
Level
Elementary school district
Dunellen Borough School Distri
Middle school district
Dunellen Borough School Distri
High school district
Dunellen Borough School Distri
Directions
North Avenue (Route 28), then right on Prospect Avenue.
Standard status
Active
APN
0300064000000001
Size
5,571 SF
Lot size
0.37 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16891
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air
Cooling system
Attic Fan, Central Air
Water source
Public
Amenities
hardwood floors
updated kitchen
updated bath
Anderson windows
in-unit laundry
separate utilities
fireplace
enclosed porch
finished attic
paver patios
covered pergola
deck
barn/garage with loft storage
workshop space
Building Details
Year built
1935
Floors in Building
3
Building materials
Vinyl Siding
Roof type
Asphalt
Additional Structures
Outbuilding
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
Gisel Lainez Jimenez
(908) 246-4935
Added: Oct 11
Changed: Oct 15
Last Checked: Oct 17 at 12:06AM
MLS# 2706321R
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.
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Investment Insights
Based on property information with market context.
This 5,571-square-foot triplex was rebuilt and enlarged in 2018 and contains three distinct residences. Each unit has hardwood floors, an updated kitchen and bath, Andersen windows, in-unit laundry, and separate utilities. The first residence has 2 bedrooms and 1 bath on one level, along with a breakfast nook. The second has 3 bedrooms, 2 baths, and finished third-floor space. The third spans three levels and includes 3+ bedrooms, 4 full baths, a fireplace, enclosed porch, finished attic, and an attached garage with a loft.
Outdoor features include paver patios, a covered pergola, a deck, and parking for 6 vehicles. A separate barn/garage provides loft storage and workshop space. The property has natural gas, central air, public water, and public sewer; the rear portion lies within a flood zone. The parcel measures 0.3719 acres and is zoned RA.
Outdoor features include paver patios, a covered pergola, a deck, and parking for 6 vehicles. A separate barn/garage provides loft storage and workshop space. The property has natural gas, central air, public water, and public sewer; the rear portion lies within a flood zone. The parcel measures 0.3719 acres and is zoned RA.
Key Highlights
- Three residences in 5,571 square feet; rebuilt and expanded in 2018
- 0.3719‑acre parcel with RA zoning
- All units have separate utilities, laundry, hardwood floors, and updated kitchens and baths
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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The property combines separate utilities and laundry for each residence with patios, a deck, and substantial garage and storage space.
Where is this triplex located?
The property is located at 262 Prospect Avenue 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 in 5,571 square feet; rebuilt and expanded in 2018; 0.3719‑acre parcel with RA zoning; All units have separate utilities, laundry, hardwood floors, and updated kitchens and baths
