Two-Unit Home With Finished
New
For Sale
$650,000
40 Throop Ave, New Brunswick, NJ 08901
Duplex with hardwood floors, separate living areas, full basement storage, and a fenced backyard near major institutions and transit.
Property Size2,594 SF
Price / SF$250.58
Days on Market4
Property Features for 40 Throop Ave
General Information
Standard status
Active
Size
2,594 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Listing Agency:
RE/MAX Revolution
(732) 359-3203
Listed By:
Curran Group
(732) 359-3203
Source:
Currangrp
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 31 at 2:48PM
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 Revolution
Investment Insights
Based on property information with market context.
This 2594-square-foot duplex, built in 1900, contains two residential units with distinct living and dining areas. The first floor offers two bedrooms and one full bathroom, while the second floor includes three bedrooms and one full bathroom. Hardwood flooring extends throughout both units. Each kitchen includes a refrigerator, gas range, dishwasher, washer, and dryer. The upper unit also includes a finished walk-up attic that may provide additional space for bedrooms, an office, media room, fitness area, playroom, guest quarters, hobbies, or storage, subject to permitted-use verification.
A full basement is reached through the rear stairwell shared by both units and provides storage plus utility access. The property also features a fully fenced backyard. Located at 40 Throop Avenue in New Brunswick, the duplex is near Robert Wood Johnson University Hospital, Saint Peter's University Hospital, Rutgers University, downtown New Brunswick, and New Brunswick Train Station, with NJ Transit and Amtrak service.
A full basement is reached through the rear stairwell shared by both units and provides storage plus utility access. The property also features a fully fenced backyard. Located at 40 Throop Avenue in New Brunswick, the duplex is near Robert Wood Johnson University Hospital, Saint Peter's University Hospital, Rutgers University, downtown New Brunswick, and New Brunswick Train Station, with NJ Transit and Amtrak service.
Key Highlights
- 2594‑square‑foot duplex built in 1900
- First‑floor unit has 2 bedrooms and 1 full bathroom; second‑floor unit has 3 bedrooms and 1 full bathroom
- Finished walk‑up attic serving the second‑floor unit; permitted use to be verified by buyer
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
$43,414
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
6.68%
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%
$868,280
$868.3K
Cap Rate 7%
$620,200
$620.2K
Cap Rate 9%
$482,378
$482.4K
Market Conditions
NOI Build-Up for 2,594 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
$66.3K $25.56/SF
− Vacancy
−$4.3K −$1.65/SF
EGI
$62.0K $23.91/SF
− OpEx
−$18.6K −$7.17/SF
NOI
$43.4K $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%
$868,280
Cap Rate 7%
$620,200
Cap Rate 9%
$482,378
Alternative Uses
Best Use
Multifamily LT 5
$620.2K
$542.7K – $723.6K
NOI $43,414 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$569.9K
$498.6K – $664.9K
NOI $39,891 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$677.3K
$592.7K – $790.2K
NOI $47,414 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,654
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 - Duplex with hardwood floors, separate living areas, full basement storage, and a fenced backyard near major institutions and transit.
Where is this duplex located?
The property is located at 40 Throop Ave New Brunswick, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2594‑square‑foot duplex built in 1900; First‑floor unit has 2 bedrooms and 1 full bathroom; second‑floor unit has 3 bedrooms and 1 full bathroom; Finished walk‑up attic serving the second‑floor unit; permitted use to be verified by buyer
