Two-Family Home with Attached
New
For Sale
$775,000
32 Suydam Street, New Brunswick, NJ 08901
Residential Income, New Brunswick, NJ
Property Size2,310 SF
Lot Size0.11 Acres
Price / SF$335.50
Days on Market2
Property Features for 32 Suydam Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5A
Zoning description
Buyer Should Verify
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Basement, Bathroom 2
Parking features
Garage
Window features
Blinds
Patio and Porch features
Porch
Interior features
Unit 1(4 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(4 Bedrooms, Kitchen, Living Room, 2+ Baths)
Exterior features
Curbs, Porch(es) - Open, Sidewalk, Blinds
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven), Unit 2(Range/Oven, Refrigerator)
Subdivision
New Brunswick 1st Ward
Lot features
Corner Lot, Near Public Transit
Elementary school district
New Brunswick City School Dist
Middle school district
New Brunswick City School Dist
High school district
New Brunswick City School Dist
Directions
Nichol Ave to Suydam St.
Standard status
Active
APN
1300174000000026
Size
2,310 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12846
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Radiant, Steam, Central
Cooling system
Window Unit(s), Wall Unit(s)
Water source
Public
Amenities
private balcony
washer/dryer
Building Details
Year built
1920
Floors in Building
2
Building materials
Metal Siding
Roof type
Slate
Listing Agency:
C-21 BARROOD REALTORS · Century 21 Real Estate
(732) 297-7900
Listed By:
Tony Chedid
(732) 297-7900
Added: Aug 24
Last Checked: Aug 25 at 5:06AM
MLS# 2703264R
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 1920 two-family home at 32 Suydam Street contains 2,310 square feet with an apartment on each floor. The first unit has 4 bedrooms, a living room, kitchen, and 1 bathroom; the second includes 4 bedrooms, a living room, kitchen, 2+ bathrooms, and a private balcony. Each residence has separate electric and gas metering, while heating is provided by separate steam radiator systems. One furnace is approximately one year old, and the shared water heater is approximately three years old.
The property sits near Rutgers University's Douglass and Cook campuses in New Brunswick. A full basement provides two storage rooms, a bathroom with a sink and shower, and a new washer and dryer. The unfinished attic adds substantial storage capacity, and the home also includes a one-car attached garage, open porch, slate roof, public water, and public sewer. Existing tenancies remain in place, and the buyer is responsible for obtaining the City of New Brunswick CCO and smoke certifications.
The property sits near Rutgers University's Douglass and Cook campuses in New Brunswick. A full basement provides two storage rooms, a bathroom with a sink and shower, and a new washer and dryer. The unfinished attic adds substantial storage capacity, and the home also includes a one-car attached garage, open porch, slate roof, public water, and public sewer. Existing tenancies remain in place, and the buyer is responsible for obtaining the City of New Brunswick CCO and smoke certifications.
Key Highlights
- Two‑family home with 2,310 square feet of building area
- Two apartments, each with 4 bedrooms; first unit has 1 bathroom and second has 2+ bathrooms
- 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
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,127
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 separately metered apartments near Rutgers University include generous basement and attic storage areas.
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‑family home with 2,310 square feet of building area; Two apartments, each with 4 bedrooms; first unit has 1 bathroom and second has 2+ bathrooms; Separate electric and gas meters with two steam radiator heating systems
