Two-Unit Duplex with Off-Street
For Sale
$615,000
28 Suydam Street, New Brunswick, NJ 08901
Two separately metered apartments offer distinct layouts and on-site parking.
Property Size1,577 SF
Price / SF$389.98
Days on Market8
Property Features for 28 Suydam Street
General Information
Standard status
Active
Size
1,577 SF
Total Parking Spaces
6
Property subtype
Multi-family
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
C-21 BARROOD REALTORS
Listed By:
TONY G. CHEDID
(833) 740-1234
Source:
Actionplusrealty
Added: Sep 2
Changed: Sep 8
Last Checked: Sep 8 at 6:47AM
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 C-21 BARROOD REALTORS
Investment Insights
Based on property information with market context.
This 1,577-square-foot duplex contains two rented apartments with separate utility arrangements. The first-floor residence includes one bedroom, a living room, kitchen, and one bathroom. The upper apartment occupies the second and third floors and provides three bedrooms, a living room, kitchen, family room or den, and one bathroom.
The property is located at 28 Suydam Street in New Brunswick, one block from Douglas College. Off-street parking accommodates 6 cars. Building systems include 2 hot water baseboard furnaces, each 4 years old, separate gas meters, separate utilities, and 1 electric meter serving the landlord. Two sets of washers and dryers are also included.
The property is located at 28 Suydam Street in New Brunswick, one block from Douglas College. Off-street parking accommodates 6 cars. Building systems include 2 hot water baseboard furnaces, each 4 years old, separate gas meters, separate utilities, and 1 electric meter serving the landlord. Two sets of washers and dryers are also included.
Key Highlights
- 1,577 SF duplex with two rented apartments
- First‑floor 1‑bedroom apartment with living room, kitchen, and 1 bath
- Second- and third‑floor 3‑bedroom apartment with family room/den and 1 bath
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
$26,393
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
4.29%
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%
$527,860
$527.9K
Cap Rate 7%
$377,043
$377.0K
Cap Rate 9%
$293,256
$293.3K
Market Conditions
NOI Build-Up for 1,577 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
$40.3K $25.56/SF
− Vacancy
−$2.6K −$1.65/SF
EGI
$37.7K $23.91/SF
− OpEx
−$11.3K −$7.17/SF
NOI
$26.4K $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%
$527,860
Cap Rate 7%
$377,043
Cap Rate 9%
$293,256
Alternative Uses
Best Use
Multifamily LT 5
$377.0K
$329.9K – $439.9K
NOI $26,393 @ 7.0% cap · market cap 4.29%
Second Best
Apartment 5plus
$346.4K
$303.1K – $404.2K
NOI $24,251 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$411.8K
$360.3K – $480.4K
NOI $28,825 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,127
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 separately metered apartments offer distinct layouts and on-site parking.
Where is this duplex located?
The property is located at 28 Suydam Street New Brunswick, NJ.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 1,577 SF duplex with two rented apartments; First‑floor 1‑bedroom apartment with living room, kitchen, and 1 bath; Second- and third‑floor 3‑bedroom apartment with family room/den and 1 bath
