Two-Family Home with
New
For Sale
$775,000
32 Suydam Street, New Brunswick, NJ 08901
Two apartments feature separate electric and gas meters, with existing tenancies in place.
Property Size2,310 SF
Price / SF$335.50
Days on Market7
Property Features for 32 Suydam Street
General Information
Standard status
Active
Size
2,310 SF
Total Parking Spaces
1
Property subtype
Multi-family
Units
Unit Mix
4BR/1BA, 4BR/2BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
balcony
washer/dryer
Building Details
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
C-21 BARROOD REALTORS
Listed By:
TONY G. CHEDID
(833) 740-1234
Source:
Actionplusrealty
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 28 at 8:08PM
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 C-21 BARROOD REALTORS
Investment Insights
Based on property information with market context.
Built in 1920, this two-family home contains separate first- and second-floor apartments. The first-floor unit has 4 bedrooms, a living room, kitchen, and full bath, with legal occupancy for 5 persons. The second-floor unit includes 4 bedrooms, a living room, kitchen, 2 full baths, and a private balcony. Existing tenancies remain in place.
Separate electric and gas meters serve the apartments, along with two steam radiator heating systems. One furnace is approximately one year old, and the shared water heater is approximately three years old. A full basement provides two storage rooms, a bathroom with sink and shower, and a brand-new washer and dryer. The unfinished attic adds storage space, while the slate roof and one-car attached garage are additional improvements.
The property is located at 32 Suydam Street in New Brunswick, near Rutgers University's Douglass and Cook campuses. Buyer is responsible for the City of New Brunswick CCO and smoke certifications.
Separate electric and gas meters serve the apartments, along with two steam radiator heating systems. One furnace is approximately one year old, and the shared water heater is approximately three years old. A full basement provides two storage rooms, a bathroom with sink and shower, and a brand-new washer and dryer. The unfinished attic adds storage space, while the slate roof and one-car attached garage are additional improvements.
The property is located at 32 Suydam Street in New Brunswick, near Rutgers University's Douglass and Cook campuses. Buyer is responsible for the City of New Brunswick CCO and smoke certifications.
Key Highlights
- Two separate apartments, including 4 bedrooms in each unit
- First‑floor apartment has legal occupancy for 5 persons
- Separate electric and gas meters with two steam radiator heating systems
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
$38,661
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
4.99%
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%
$773,220
$773.2K
Cap Rate 7%
$552,300
$552.3K
Cap Rate 9%
$429,567
$429.6K
Market Conditions
NOI Build-Up for 2,310 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
$59.0K $25.56/SF
− Vacancy
−$3.8K −$1.65/SF
EGI
$55.2K $23.91/SF
− OpEx
−$16.6K −$7.17/SF
NOI
$38.7K $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%
$773,220
Cap Rate 7%
$552,300
Cap Rate 9%
$429,567
Alternative Uses
Best Use
Multifamily LT 5
$552.3K
$483.3K – $644.4K
NOI $38,661 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$507.5K
$444.0K – $592.1K
NOI $35,523 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$603.2K
$527.8K – $703.7K
NOI $42,223 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,909
Businesses Nearby
Explore this area
Business Placement
Demographics for 08901, NJ
56,278
Population
17,071
Households
3.3
Avg Household Size
27
Median Age
24%
College-Educated
66%
High-School Grad
6.3 sq mi
ZIP Area
8,933
Density / Sq Mi
$60,248
Median Household Income
$25,192
Median Earnings
$1,790
Median Rent
$316,800
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 apartments feature separate electric and gas meters, with existing tenancies in place.
Where is this duplex located?
The property is located at 32 Suydam Street New Brunswick, NJ.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two separate apartments, including 4 bedrooms in each unit; First‑floor apartment has legal occupancy for 5 persons; Separate electric and gas meters with two steam radiator heating systems
