Three-Family Residential Income
374 Delavan Street New Brunswick, NJ 08901
For Sale
$769,000
Three separate units with finished basement and attic, plus covered front porch and a long double-wide driveway for parking.
Property Size2,318 SF
Price / SF$331.75
Days on Market182
Property Features for 374 Delavan Street
General Information
Standard status
Active
Size
2,318 SF
Property subtype
Multi-family
Building Details
Year Built
1920
Listing Agency:
RE/MAX 1st ADVANTAGE
Listed By:
ROBERT DEKANSKI
(833) 740-1234
Source:
Actionplusrealty
Added: Jan 29
Changed: Jul 27
Last Checked: Jul 28 at 10:44PM
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 1st ADVANTAGE
Investment Insights
Based on property information with market context.
This three-family residence offers three distinct units with a finished basement and a finished attic, totaling approximately 2,318 square feet of finished space. The home includes 8 bedrooms and 3 full bathrooms across the units. The finished basement unit features a living area, kitchen, full bath, 1 bedroom, and additional rec/bonus space. The first-floor unit is set up for single-level living with a light and bright layout, an eat-in kitchen, 1 full bath, and 3 bedrooms. The third unit spans the second floor and finished attic, with a living area, eat-in kitchen, full bath, and 4 bedrooms.
The property includes a covered front porch, rear storage sheds, and a long double-wide driveway providing ample parking. Semi-private entrances and separate utilities are noted for the units. Located in thriving New Brunswick, it is described as being minutes from Rutgers University, Robert Wood Johnson University Hospital, St. Peter’s Hospital, and downtown New Brunswick, with convenient access to major roads, shopping, dining, and the New Brunswick train station.
The property includes a covered front porch, rear storage sheds, and a long double-wide driveway providing ample parking. Semi-private entrances and separate utilities are noted for the units. Located in thriving New Brunswick, it is described as being minutes from Rutgers University, Robert Wood Johnson University Hospital, St. Peter’s Hospital, and downtown New Brunswick, with convenient access to major roads, shopping, dining, and the New Brunswick train station.
Key Highlights
- 1920‑built 3‑family home with over 2,300 sq ft of finished living space
- Total of 8 bedrooms and 3 full baths across three separate units
- Finished basement unit includes living area, kitchen, full bath, 1 bedroom, and bonus rec space
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.2k | $25.56 |
| − Vacancy | −$3.8k | −$1.65 |
| EGI | $55.4k | $23.91 |
| − OpEx | −$16.6k | −$7.17 |
| NOI | $38.8k | $16.74 |
2,318 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$554.2K
$484.9K – $646.6K
NOI $38,794 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$509.2K
$445.6K – $594.1K
NOI $35,646 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$605.3K
$529.6K – $706.2K
NOI $42,369 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Three separate units with finished basement and attic, plus covered front porch and a long double-wide driveway for parking.
Where is this triplex located?
The property is located at 374 Delavan Street New Brunswick, NJ.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: 1920‑built 3‑family home with over 2,300 sq ft of finished living space; Total of 8 bedrooms and 3 full baths across three separate units; Finished basement unit includes living area, kitchen, full bath, 1 bedroom, and bonus rec space
