Triplex with Detached
New
For Sale
$699,000
Pending
377 Delavan Street, New Brunswick, NJ 08901
Three separate residences provide eight bedrooms, three baths, individual utilities, and on-site parking.
Property Size2,520 SF
Days on Market4
Property Features for 377 Delavan Street
General Information
Standard status
Pending
Size
2,520 SF
Property subtype
Multi Family Home
Zoning
R-5A
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Annual Taxes
$9,787
Amenities
rear patio space
partially fenced-in yard
detached 1 car garage
Unit 1(3 Bedrooms
Kitchen
1 Bath
Living Room)
Unit 2(3 Bedrooms
Unit 3(2 Bedrooms
Living Room
See Remarks)
Patio
Curbs
Porch(es) - Open
Sidewalk
Yard
Semi-Private Entry
Porch
Building Details
Building Size
2,520 SF
Year Built
1920
Stories
2
Listing Agency:
RE/MAX 1st ADVANTAGE
Listed By:
Robert Dekanski · License #232901
(800) 691-0485
Source:
Lacerdarealtors
Added: Oct 29
Last Checked: Oct 29 at 2:40PM
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
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Investment Insights
Based on property information with market context.
This 2,520-square-foot triplex contains three residences with a total of 8 bedrooms and 3 full bathrooms. The basement residence has 3 bedrooms, an eat-in kitchen, and living space. On the first floor, a 3-bedroom unit features an updated eat-in kitchen and flooring; the second-floor 2-bedroom residence also has a renovated eat-in kitchen and new flooring. The property was built in 1920 and is zoned R-5A. Separate utilities serve the units, and entrances are semi-private.
Outdoor and parking features include a rear patio, a partially fenced yard, a detached one-car garage, and additional on-site parking. The property is in New Brunswick, with access to major roads and public transit. Downtown New Brunswick and the train station, Rutgers University, Robert Wood Johnson University Hospital, and St. Peter’s Hospital are nearby.
Outdoor and parking features include a rear patio, a partially fenced yard, a detached one-car garage, and additional on-site parking. The property is in New Brunswick, with access to major roads and public transit. Downtown New Brunswick and the train station, Rutgers University, Robert Wood Johnson University Hospital, and St. Peter’s Hospital are nearby.
Key Highlights
- Three residences total 8 bedrooms and 3 full baths
- 2,520 square feet; built in 1920; zoned R‑5A
- Separate utilities and semi‑private entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,175
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$843,500
$843.5K
Cap Rate 7%
$602,500
$602.5K
Cap Rate 9%
$468,611
$468.6K
Market Conditions
NOI Build-Up for 2,520 SF
Gross rent
$64.4K $25.56/SF
− Vacancy
−$4.2K −$1.65/SF
EGI
$60.3K $23.91/SF
− OpEx
−$18.1K −$7.17/SF
NOI
$42.2K $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 Rate 5%
$843,500
Cap Rate 7%
$602,500
Cap Rate 9%
$468,611
Alternative Uses
Best Use
Multifamily LT 5
$602.5K
$527.2K – $702.9K
NOI $42,175 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$553.6K
$484.4K – $645.9K
NOI $38,753 @ 7.0% cap · market cap 5.54%
Theoretical Best
Office A
$658.0K
$575.8K – $767.7K
NOI $46,062 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,379
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences provide eight bedrooms, three baths, individual utilities, and on-site parking.
Where is this triplex located?
The property is located at 377 Delavan Street New Brunswick, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three residences total 8 bedrooms and 3 full baths; 2,520 square feet; built in 1920; zoned R‑5A; Separate utilities and semi‑private entrances
