Duplex with Detached
For Sale
$484,900
3 E High Street E, Bound Brook, NJ 08805
Residential Income, Bound Brook, NJ
Property Size1,674 SF
Lot Size0.16 Acres
Price / SF$289.67
Days on Market11
Property Features for 3 E High Street E
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Zoning description
Conform to Zoning
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Basement, Bathroom 2
Parking features
Garage
Patio and Porch features
Porch
Interior features
Unit 1(1 Bedroom, Kitchen, Living Room), Unit 2(1 Bedroom, Kitchen, Living Room)
Exterior features
Porch
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
Lot features
Corner Lot
Elementary school district
Bound Brook Borough School Dis
Middle school district
Bound Brook Borough School Dis
High school district
Bound Brook Borough School Dis
Directions
RT 28 to Church street to East High street
Standard status
Active
APN
0400049000000009
Size
1,674 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9241
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Forced Air
Cooling system
Wall Unit(s), Window Unit(s), Ceiling Fan(s)
Water source
Public
Amenities
backyard
patio
shared laundry
basement storage
attic storage
bonus room
Building Details
Year built
1857
Floors in Building
2
Building materials
Metal Siding
Listing Agency:
MASTER KEY REALTORS
(732) 629-7111
Listed By:
Bruce Mcdonald
(732) 629-7111
Added: Aug 11
Changed: Aug 20
Last Checked: Aug 21 at 12:06AM
MLS# 2702571R
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 duplex contains two one-bedroom apartments, each with a kitchen and living room. The first-floor residence connects to the backyard and patio and has basement storage, while the second-floor unit offers attic storage access and a bonus room. Shared basement laundry serves both apartments. A detached garage is also part of the property and is separately rented. The building includes a porch, gas water heating, radiant and forced-air heating, and wall and window cooling units.
The property sits on 0.1601 acres at 3 E High Street E in Bound Brook, NJ 08805. It is near downtown Bound Brook, the train station, restaurants, shopping, Route 22, and Route 287. Both apartments are tenant-occupied, and the sale is offered as-is. The property is zoned R4 and includes public water and public sewer.
The property sits on 0.1601 acres at 3 E High Street E in Bound Brook, NJ 08805. It is near downtown Bound Brook, the train station, restaurants, shopping, Route 22, and Route 287. Both apartments are tenant-occupied, and the sale is offered as-is. The property is zoned R4 and includes public water and public sewer.
Key Highlights
- Two tenant‑occupied apartments, each with 1 bedroom, kitchen, and living room
- 1674 square feet on a 0.1601‑acre lot
- Detached garage with a separate rental arrangement
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
$23,891
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
4.93%
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%
$477,820
$477.8K
Cap Rate 7%
$341,300
$341.3K
Cap Rate 9%
$265,456
$265.5K
Market Conditions
NOI Build-Up for 1,674 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
$36.2K $21.60/SF
− Vacancy
−$2.0K −$1.21/SF
EGI
$34.1K $20.39/SF
− OpEx
−$10.2K −$6.12/SF
NOI
$23.9K $14.27/SF
Area
Somerset County, NJ
Vacancy
5.61%
Lease Rate
$21.60 /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%
$477,820
Cap Rate 7%
$341,300
Cap Rate 9%
$265,456
Alternative Uses
Best Use
Multifamily LT 5
$341.3K
$298.6K – $398.2K
NOI $23,891 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$297.0K
$259.9K – $346.6K
NOI $20,793 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$437.1K
$382.5K – $510.0K
NOI $30,598 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
915
Businesses Nearby
Explore this area
Business Placement
Demographics for 08805, NJ
13,948
Population
5,524
Households
2.5
Avg Household Size
37
Median Age
33%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
4,810
Density / Sq Mi
$84,201
Median Household Income
$41,874
Median Earnings
$1,859
Median Rent
$393,900
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 one-bedroom apartments feature shared laundry and separate storage areas, with porch access and tenant occupancy in place.
Where is this duplex located?
The property is located at 3 E High Street E Bound Brook, NJ.
What is the asking price?
The asking price for this property is $484,900.
What are key features of this property?
This property features: Two tenant‑occupied apartments, each with 1 bedroom, kitchen, and living room; 1674 square feet on a 0.1601‑acre lot; Detached garage with a separate rental arrangement
