Two-Unit Duplex with
New
For Sale
$615,000
28 Suydam Street, New Brunswick, NJ 08901
Residential Income, New Brunswick, NJ
Property Size1,577 SF
Lot Size0.11 Acres
Price / SF$389.98
Days on Market2
Property Features for 28 Suydam Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5A
Zoning description
Buyer Should Verify
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 1, Bathroom 2, Den
Window features
Blinds, Insulated Windows
Patio and Porch features
Porch
Interior features
Unit 1(1 Bedroom, Kitchen, 1 Bath, Living Room), Unit 2(3 Bedrooms, Kitchen, Living Room, Den/Family Room)
Exterior features
Curbs, Porch(es) - Open, Sidewalk, Storage Shed, Windows - Insulated Pane, Yard, Blinds, Porch, Shades Some
Appliances
Water Heater(Gas), Water Heater, Unit 1(Dryer, Range/Oven, Refrigerator, Washer), Unit 2(Dryer, Range/Oven, Refrigerator, Washer)
Subdivision
Douglas College
Lot features
Near Shopping, Near Public Transit
Elementary school district
New Brunswick City School Dist
Middle school district
New Brunswick City School Dist
High school district
New Brunswick City School Dist
Directions
Nichol Ave to Suydam St
Standard status
Active
APN
1300174000000028
Size
1,577 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8392
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Building materials
Vinyl Siding
Roof type
Slate
Additional Structures
Storage
Listing Agency:
C-21 BARROOD REALTORS · Century 21 Real Estate
(732) 297-7900
Listed By:
Tony Chedid
(732) 754-7776
Added: Sep 4
Last Checked: Sep 5 at 3:06AM
MLS# 2703934R
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 R-5A duplex contains two apartments within a 1,577-square-foot residential building. The first-floor unit has one bedroom, a living room, kitchen, and bathroom. A three-bedroom apartment occupies the second and third floors and adds a living room, kitchen, family room or den, and bathroom. The property includes two washer-and-dryer sets, separate gas meters, and separate utilities, with one electric meter serving the landlord. Two hot-water baseboard furnaces were installed 4 years ago.
The 0.1079-acre property is located exactly 1 block from Douglas College and provides off-street parking for 6 cars. Additional features include an open porch, storage shed, insulated-pane windows, slate roofing, public water, and public sewer. The building dates to 1920 and has vinyl siding.
The 0.1079-acre property is located exactly 1 block from Douglas College and provides off-street parking for 6 cars. Additional features include an open porch, storage shed, insulated-pane windows, slate roofing, public water, and public sewer. The building dates to 1920 and has vinyl siding.
Key Highlights
- Two apartments totaling 1,577 square feet
- First‑floor 1‑bedroom unit; upper 3‑bedroom unit with den/family room
- Off‑street parking for 6 cars
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 apartments offer separate utilities, gas heating, laundry equipment, and off-street parking near Douglas College.
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: Two apartments totaling 1,577 square feet; First‑floor 1‑bedroom unit; upper 3‑bedroom unit with den/family room; Off‑street parking for 6 cars
