Updated Two-Family
New
For Sale
$659,900
32 Avenel Street, Avenel, NJ 07001
Residential Income, Avenel, NJ
Property Size1,514 SF
Lot Size0.14 Acres
Price / SF$435.87
Days on Market5
Property Features for 32 Avenel Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-6/2F
Zoning description
Conform to Zoning
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Basement, Bedroom 2, Dining Room, Bathroom 1, Bedroom 3
Parking features
Carport
Patio and Porch features
Porch
Interior features
Unit 1(1 Bath, 2 Bedrooms, Dining Room, Kitchen, Living Room), Unit 2(1 Bath, 1 Bedroom, Kitchen, Living Room)
Exterior features
Porch(es) - Enclosed, Yard, Porch
Accessibility
Accessible Approach with Ramp
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
Subdivision
Township/Woodbridge
Lot features
Near Public Transit, Near Shopping, Near Train
Elementary school district
Woodbridge Township Sd
Middle school district
Woodbridge Township Sd
High school district
Woodbridge Township Sd
Directions
Rt. 9 To Avenel St.
Standard status
Active
APN
25008591300031
Size
1,514 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10453
Utilities
Sewer type
Public Sewer
Heating system
Steam, Other (Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1936
Floors in Building
2
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
JACK PEDERSEN REALTY
(908) 755-8300
Listed By:
John Espin · License #456463
(908) 755-8300
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 3:06AM
MLS# 2770404M
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 1514-square-foot duplex, built in 1936, contains two residential units with separate kitchens, living rooms, and bathrooms. The first unit includes two bedrooms and a dining room, while the second has one bedroom. Improvements completed in 2015 include separate tankless water heaters, 200-amp electric service, and a heated enclosed patio. A finished heated two-car garage and driveway parking for up to 5 cars add practical utility. The property also includes a yard, porch, vinyl siding, steam heating, window-unit cooling, and an accessible approach with ramp.
Located in Avenel, NJ, the property is served by public water and public sewer and carries R-6/2F zoning. The 0.1435-acre site includes an asphalt roof and carport parking.
Located in Avenel, NJ, the property is served by public water and public sewer and carries R-6/2F zoning. The 0.1435-acre site includes an asphalt roof and carport parking.
Key Highlights
- Two‑unit duplex with 1514 square feet of property size
- Updated in 2015 with separate tankless water heaters
- 200‑amp electric service
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
$25,339
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
3.84%
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%
$506,780
$506.8K
Cap Rate 7%
$361,986
$362.0K
Cap Rate 9%
$281,544
$281.5K
Market Conditions
NOI Build-Up for 1,514 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
$38.7K $25.56/SF
− Vacancy
−$2.5K −$1.65/SF
EGI
$36.2K $23.91/SF
− OpEx
−$10.9K −$7.17/SF
NOI
$25.3K $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%
$506,780
Cap Rate 7%
$361,986
Cap Rate 9%
$281,544
Alternative Uses
Best Use
Multifamily LT 5
$362.0K
$316.7K – $422.3K
NOI $25,339 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$332.6K
$291.0K – $388.0K
NOI $23,282 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$395.3K
$345.9K – $461.2K
NOI $27,673 @ 7.0% cap · market cap 4.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Explore this area
Business Placement
Demographics for 07001, NJ
16,920
Population
5,693
Households
3
Avg Household Size
36
Median Age
29%
College-Educated
88%
High-School Grad
3.7 sq mi
ZIP Area
4,573
Density / Sq Mi
$95,935
Median Household Income
$50,740
Median Earnings
$1,839
Median Rent
$351,200
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 residential units offer separate kitchens, bathrooms, and living spaces, with enclosed outdoor space and substantial driveway parking.
Where is this duplex located?
The property is located at 32 Avenel Street Avenel, NJ.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: Two‑unit duplex with 1514 square feet of property size; Updated in 2015 with separate tankless water heaters; 200‑amp electric service
