Duplex with
For Sale
$819,000
28 VICTORIA AVENUE, Spotswood, NJ 08884
The property has natural-gas baseboard heat and a partially finished interior.
Property Size2,152 SF
Price / SF$380.58
Days on Market67
Property Features for 28 VICTORIA AVENUE
General Information
Standard status
Active
Size
2,152 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
R
Taxes and HOA fees
Annual Taxes
$11,160
Amenities
Natural Gas, Baseboard
Partially Finished
Gas Water Heater
Driveway
Side-by-Side
Building Details
Building Size
2,152 SF
Year Built
1934
Listing Agency:
Keller Williams Premier
Listed By:
Annie M Parisi · License #1752550
(609) 532-8693
Source:
Evrealestate
Added: Jul 28
Changed: Oct 1
Last Checked: Oct 1 at 11:03AM
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 Keller Williams Premier
Investment Insights
Based on property information with market context.
This 2,152-square-foot duplex was built in 1934. Interior features include natural-gas baseboard heating, a gas water heater, and partially finished space. The property also has a driveway with side-by-side parking and is zoned R.
Key Highlights
- 2,152 square feet
- Built in 1934
- Zoned R
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
$36,016
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
4.40%
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%
$720,320
$720.3K
Cap Rate 7%
$514,514
$514.5K
Cap Rate 9%
$400,178
$400.2K
Market Conditions
NOI Build-Up for 2,152 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
$55.0K $25.56/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$51.5K $23.91/SF
− OpEx
−$15.4K −$7.17/SF
NOI
$36.0K $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%
$720,320
Cap Rate 7%
$514,514
Cap Rate 9%
$400,178
Alternative Uses
Best Use
Multifamily LT 5
$514.5K
$450.2K – $600.3K
NOI $36,016 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$472.8K
$413.7K – $551.6K
NOI $33,093 @ 7.0% cap · market cap 4.04%
Theoretical Best
Office A
$561.9K
$491.7K – $655.6K
NOI $39,335 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
Explore this area
Business Placement
Demographics for 08884, NJ
8,185
Population
3,318
Households
2.5
Avg Household Size
45
Median Age
34%
College-Educated
91%
High-School Grad
2.3 sq mi
ZIP Area
3,559
Density / Sq Mi
$101,125
Median Household Income
$57,834
Median Earnings
$1,097
Median Rent
$358,100
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
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Frequently Asked Questions
What type of property is this?
Duplex - The property has natural-gas baseboard heat and a partially finished interior.
Where is this duplex located?
The property is located at 28 VICTORIA AVENUE Spotswood, NJ.
What is the asking price?
The asking price for this property is $819,000.
What are key features of this property?
This property features: 2,152 square feet; Built in 1934; Zoned R
