Updated Two-Unit
For Sale
$600,000
407 Port Reading Avenue, Port Reading, NJ 07064
Multi-Family, Port Reading, NJ
Property Size2,070 SF
Lot Size0.25 Acres
Price / SF$289.86
Days on Market13
Property Features for 407 Port Reading Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 4, Bedroom 1, Basement, Bedroom 3, Bathroom 1
Basement
Full
Middle school
Woodbridge
Directions
Route 1/9 to Port Reading Avenue. Continue on Port Reading Avenue to #407.
Subdivision
Port Reading
Standard status
Active
APN
25-00659-01-00013
Size
2,070 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9931
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
screened-in porch
private entrance
basement
washer/dryer
attic
Building Details
Year built
1921
Floors in Building
2
Number of units
2
Listing Agency:
Real Broker, LLC- Point P
(732) 746-3654
Listed By:
Victoria Fasano
(732) 746-3654
Added: Aug 11
Changed: Aug 22
Last Checked: Aug 23 at 8:06PM
MLS# 22624797
Copyright © 2026 More 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 two-family duplex at 407 Port Reading Avenue contains 2,070 square feet across two separate residences. Each unit has a private entrance, two bedrooms, one full bathroom, a living room, kitchen, and screened-in porch. Both interiors have been freshly painted and updated with new flooring and mini blinds. The full unfinished basement includes a washer and dryer, while the unfinished attic provides additional storage space.
Set on a 0.25-acre lot, the property includes a large driveway and ample off-street parking. The NYC bus stop is less than 100 feet away, and Woodbridge Train Station is approximately one mile from the home. Public water and public sewer serve the property. Built in 1921, the duplex offers a two-family configuration with potential for owner occupancy and rental income.
Set on a 0.25-acre lot, the property includes a large driveway and ample off-street parking. The NYC bus stop is less than 100 feet away, and Woodbridge Train Station is approximately one mile from the home. Public water and public sewer serve the property. Built in 1921, the duplex offers a two-family configuration with potential for owner occupancy and rental income.
Key Highlights
- Two‑unit duplex with 2,070 square feet
- Each unit includes 2 bedrooms, 1 full bathroom, living room, kitchen, and screened‑in porch
- Private entrances serve both residences
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
$34,644
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
5.77%
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%
$692,880
$692.9K
Cap Rate 7%
$494,914
$494.9K
Cap Rate 9%
$384,933
$384.9K
Market Conditions
NOI Build-Up for 2,070 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
$52.9K $25.56/SF
− Vacancy
−$3.4K −$1.65/SF
EGI
$49.5K $23.91/SF
− OpEx
−$14.8K −$7.17/SF
NOI
$34.6K $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%
$692,880
Cap Rate 7%
$494,914
Cap Rate 9%
$384,933
Alternative Uses
Best Use
Multifamily LT 5
$494.9K
$433.1K – $577.4K
NOI $34,644 @ 7.0% cap · market cap 5.77%
Second Best
Apartment 5plus
$454.7K
$397.9K – $530.5K
NOI $31,832 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$540.5K
$473.0K – $630.6K
NOI $37,836 @ 7.0% cap · market cap 6.31%
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
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 07064, NJ
3,905
Population
1,210
Households
3.2
Avg Household Size
41
Median Age
31%
College-Educated
93%
High-School Grad
1.3 sq mi
ZIP Area
3,004
Density / Sq Mi
$143,194
Median Household Income
$58,650
Median Earnings
$415,500
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 private-entry residences combine refreshed interiors with off-street parking and unfinished basement and attic space.
Where is this duplex located?
The property is located at 407 Port Reading Avenue Port Reading, NJ.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,070 square feet; Each unit includes 2 bedrooms, 1 full bathroom, living room, kitchen, and screened‑in porch; Private entrances serve both residences
