Two-Unit Duplex with New
For Sale
$750,000
31 Edwin St, Carteret, NJ 07008
One residence features updated appliances, central air conditioning, and a Jacuzzi tub.
Property Size1,736 SF
Price / SF$432.03
Days on Market61
Property Features for 31 Edwin St
General Information
Standard status
Active
Size
1,736 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1916
Buildings
1
Listing Agency:
CENTURY 21 MAIN STREET REALTY
(732) 750-4663
Listed By:
SABA RIZVI
Source:
Luminancerealty
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 31 at 7:16PM
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 CENTURY 21 MAIN STREET REALTY
Investment Insights
Based on property information with market context.
This 1,736-square-foot duplex contains two separate residences. The first-floor unit has two bedrooms, a living room, an updated kitchen with stainless steel appliances, a full bathroom with a Jacuzzi tub, and central air conditioning. The upper unit includes two bedrooms, a kitchen, and a full bathroom, and is currently rented.
A new roof adds a recent major improvement, while the large lot provides outdoor space for occupants and guests. The property is near shopping, schools, major highways, NYC bus service, and planned NYC ferry access. Its two-unit configuration supports both rental use and owner occupancy, as described in the property information.
A new roof adds a recent major improvement, while the large lot provides outdoor space for occupants and guests. The property is near shopping, schools, major highways, NYC bus service, and planned NYC ferry access. Its two-unit configuration supports both rental use and owner occupancy, as described in the property information.
Key Highlights
- Two‑unit duplex totaling 1,736 square feet
- First‑floor residence includes 2 bedrooms and an updated kitchen
- Stainless steel appliances, central air conditioning, and Jacuzzi tub on the first floor
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
$29,054
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
3.87%
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%
$581,080
$581.1K
Cap Rate 7%
$415,057
$415.1K
Cap Rate 9%
$322,822
$322.8K
Market Conditions
NOI Build-Up for 1,736 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
$44.4K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$41.5K $23.91/SF
− OpEx
−$12.5K −$7.17/SF
NOI
$29.1K $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%
$581,080
Cap Rate 7%
$415,057
Cap Rate 9%
$322,822
Alternative Uses
Best Use
Multifamily LT 5
$415.1K
$363.2K – $484.2K
NOI $29,054 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$381.4K
$333.7K – $444.9K
NOI $26,696 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$453.3K
$396.6K – $528.9K
NOI $31,731 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 07008, NJ
25,342
Population
8,717
Households
2.9
Avg Household Size
37
Median Age
28%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
5,760
Density / Sq Mi
$87,712
Median Household Income
$42,770
Median Earnings
$2,012
Median Rent
$370,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - One residence features updated appliances, central air conditioning, and a Jacuzzi tub.
Where is this duplex located?
The property is located at 31 Edwin St Carteret, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,736 square feet; First‑floor residence includes 2 bedrooms and an updated kitchen; Stainless steel appliances, central air conditioning, and Jacuzzi tub on the first floor
