Turnkey Renovated Two-Family
For Sale
$749,999
3022 S Wood Ave, Linden, NJ 07036
Two fully renovated units on a gated, fenced lot with an expansive backyard for parking and outdoor use.
Property Size3,049 SF
Price / SF$245.98
Days on Market46
Property Features for 3022 S Wood Ave
General Information
Standard status
Active
Size
3,049 SF
Property subtype
Multi-Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Listing Agency:
Clayton & Clayton Inc.Realtors
Listed By:
William Hagan Group
(732) 847-2901
Source:
Williamhagangroup
Added: Jul 25
Changed: Sep 8
Last Checked: Sep 8 at 6:44AM
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 Clayton & Clayton Inc.Realtors
Investment Insights
Based on property information with market context.
3022 S. Wood Avenue presents a turnkey two-family residence with two renovated units, ready for immediate occupancy. The first-floor unit includes three bedrooms and one full bath, along with basement storage and a private fenced backyard. The second-floor unit offers two bedrooms and one full bath, with a bright, open layout.
The property sits on an oversized lot with gated access and fencing. The expansive backyard provides outdoor space and room that can support parking and other on-site use.
With separate unit layouts and renovated condition throughout, the building is designed for straightforward owner-occupant or investor applications where rental income can be generated from both floors.
The property sits on an oversized lot with gated access and fencing. The expansive backyard provides outdoor space and room that can support parking and other on-site use.
With separate unit layouts and renovated condition throughout, the building is designed for straightforward owner-occupant or investor applications where rental income can be generated from both floors.
Key Highlights
- Turnkey two‑family property at 3022 S. Wood Ave with two fully renovated, move‑in‑ready units
- First‑floor unit: 3 bedrooms, 1 full bath, plus basement storage and a private fenced backyard
- Second‑floor unit: 2 bedrooms, 1 full bath with a bright, open layout
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
$51,029
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
6.80%
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%
$1,020,580
$1.0M
Cap Rate 7%
$728,986
$729.0K
Cap Rate 9%
$566,989
$567.0K
Market Conditions
NOI Build-Up for 3,049 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
$77.9K $25.56/SF
− Vacancy
−$5.0K −$1.65/SF
EGI
$72.9K $23.91/SF
− OpEx
−$21.9K −$7.17/SF
NOI
$51.0K $16.74/SF
Area
Union 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%
$1,020,580
Cap Rate 7%
$728,986
Cap Rate 9%
$566,989
Alternative Uses
Best Use
Multifamily LT 5
$729.0K
$637.9K – $850.5K
NOI $51,029 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$669.8K
$586.1K – $781.5K
NOI $46,888 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$796.2K
$696.6K – $928.9K
NOI $55,731 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
157
Businesses Nearby
Explore this area
Business Placement
Demographics for 07036, NJ
45,161
Population
16,911
Households
2.7
Avg Household Size
40
Median Age
23%
College-Educated
85%
High-School Grad
10.9 sq mi
ZIP Area
4,143
Density / Sq Mi
$89,942
Median Household Income
$46,736
Median Earnings
$1,622
Median Rent
$385,100
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 fully renovated units on a gated, fenced lot with an expansive backyard for parking and outdoor use.
Where is this duplex located?
The property is located at 3022 S Wood Ave Linden, NJ.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Turnkey two‑family property at 3022 S. Wood Ave with two fully renovated, move‑in‑ready units; First‑floor unit: 3 bedrooms, 1 full bath, plus basement storage and a private fenced backyard; Second‑floor unit: 2 bedrooms, 1 full bath with a bright, open layout
