Remodeled Duplex with Separate
For Sale
$650,000
317 Ware Ct, Bound Brook, NJ 08805
Two distinct living spaces include a fully renovated primary unit and a single-level second residence.
Property Size1,920 SF
Price / SF$338.54
Days on Market26
Property Features for 317 Ware Ct
General Information
Standard status
Active
Size
1,920 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
radiant heat
central air
jacuzzi tub
basement storage
laundry machines
porch
patio
fenced yard
fruit trees
grape vines
raised garden beds
Building Details
Year Built
1935
Buildings
1
Listing Agency:
RE/MAX PREFERRED PROFESSIONALS
(908) 642-6789
Listed By:
MARYANNE SAWADE · License #792257
Source:
Thebansalteam
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 28 at 10:48AM
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 RE/MAX PREFERRED PROFESSIONALS
Investment Insights
Based on property information with market context.
This duplex contains a substantially reconstructed primary residence and a separate one-floor second unit. The main unit includes three bedrooms, two full bathrooms, a kitchen with stainless steel appliances, granite counters, breakfast bar, pantry, dining area, and living room. Radiant heat runs beneath the hardwood floors, and central air serves this unit. Its private basement provides storage, laundry equipment, two HE furnaces installed in 2010, and a generator connection subpanel.
The second unit offers two bedrooms, a living room, kitchenette, and full bathroom, with separate gas and electric service. Exterior improvements include a rebuilt porch, large patio, detached one-car garage, stone driveway, and fenced yard with fruit trees, grape vines, and raised garden beds. The property is within 1 mile of Route 287, Bridgewater train station, Bound Brook Youth Center and Park pool, Patriots Stadium, and shopping centers.
The second unit offers two bedrooms, a living room, kitchenette, and full bathroom, with separate gas and electric service. Exterior improvements include a rebuilt porch, large patio, detached one-car garage, stone driveway, and fenced yard with fruit trees, grape vines, and raised garden beds. The property is within 1 mile of Route 287, Bridgewater train station, Bound Brook Youth Center and Park pool, Patriots Stadium, and shopping centers.
Key Highlights
- Duplex totaling 1,920 square feet, built in 1935
- Primary unit fully remodeled, including electrical, plumbing, insulation, kitchen, and bathroom
- Main residence includes 3 bedrooms, 2 full bathrooms, central air, and radiant floor heat
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
$27,402
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
4.22%
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%
$548,040
$548.0K
Cap Rate 7%
$391,457
$391.5K
Cap Rate 9%
$304,467
$304.5K
Market Conditions
NOI Build-Up for 1,920 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
$41.5K $21.60/SF
− Vacancy
−$2.3K −$1.21/SF
EGI
$39.1K $20.39/SF
− OpEx
−$11.7K −$6.12/SF
NOI
$27.4K $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%
$548,040
Cap Rate 7%
$391,457
Cap Rate 9%
$304,467
Alternative Uses
Best Use
Multifamily LT 5
$391.5K
$342.5K – $456.7K
NOI $27,402 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$340.7K
$298.1K – $397.5K
NOI $23,849 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$501.4K
$438.7K – $584.9K
NOI $35,095 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
629
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two distinct living spaces include a fully renovated primary unit and a single-level second residence.
Where is this duplex located?
The property is located at 317 Ware Ct Bound Brook, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Duplex totaling 1,920 square feet, built in 1935; Primary unit fully remodeled, including electrical, plumbing, insulation, kitchen, and bathroom; Main residence includes 3 bedrooms, 2 full bathrooms, central air, and radiant floor heat
