Two-Unit Home With Finished
For Sale
$625,000
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$240.94
Days on Market50
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:
1St Class Real Estate Agency
Listed By:
Curran Group
(732) 359-3203
Source:
Currangrp
Added: Aug 28
Changed: Oct 15
Last Checked: Oct 14 at 11:07PM
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 1St Class Real Estate Agency
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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 / Yr
$43,414
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
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
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 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 6.95%
Second Best
Apartment 5plus
$569.9K
$498.6K – $664.9K
NOI $39,891 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$677.3K
$592.7K – $790.2K
NOI $47,414 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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 $625,000.
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
