Duplex Requiring
For Sale
Under Contract
$595,000
425 N New Market Road, Piscataway, NJ 08854
Residential Income, Piscataway, NJ
Property Size2,208 SF
Lot Size0.30 Acres
Price / SF$269.47
Days on Market91
Property Features for 425 N New Market Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R75
Zoning description
Buyer Should Verify
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Dining Room, Den, Bathroom 2, Bathroom 1
Parking features
Garage
Interior features
Unit 1(Dining Room, 3 Bedrooms, Kitchen, 1 Bath, Den/Family Room), Unit 2(3 Bedrooms, Kitchen, 1 Bath)
Appliances
Water Heater(See Remarks), Water Heater
Elementary school district
Piscataway Township School Dis
Middle school district
Piscataway Township School Dis
High school district
Piscataway Township School Dis
Directions
Use Maps
Standard status
Active Under Contract
APN
170091000000000801
Size
2,208 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
8183
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard, Forced Air
Water source
Public
Building Details
Year built
1914
Floors in Building
2
Listing Agency:
COLDWELL BANKER REALTY
(908) 233-5555
Listed By:
Erin Ben-Hayon · License #1751418
(917) 282-7659
Added: Jun 22
Changed: Sep 17
Last Checked: Sep 20 at 11:06AM
MLS# 2618088R
Copyright © 2026 All Jersey 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-unit residential property contains 2,208 square feet and is configured with one three-bedroom unit and a second three-bedroom unit. The first-floor residence includes a living room, formal dining room, kitchen, full bathroom, and den or family room. The upper unit also provides a kitchen and full bathroom, with hardwood flooring in the bedrooms. A garage and basement add functional storage and utility space.
Set on 0.303 acres at 425 N New Market Road in Piscataway, the property includes an expansive backyard and is served by public water and public sewer. Built in 1914, the home requires renovation and updating and is being sold strictly as-is. The buyer is responsible for obtaining the CO, and the sale requires court approval. R75 zoning applies.
Set on 0.303 acres at 425 N New Market Road in Piscataway, the property includes an expansive backyard and is served by public water and public sewer. Built in 1914, the home requires renovation and updating and is being sold strictly as-is. The buyer is responsible for obtaining the CO, and the sale requires court approval. R75 zoning applies.
Key Highlights
- Two‑unit duplex with 2,208 square feet
- Both residences offer 3 bedrooms and 1 full bath
- First‑floor unit includes living room, formal dining room, and den/family room
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
$36,953
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
6.21%
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%
$739,060
$739.1K
Cap Rate 7%
$527,900
$527.9K
Cap Rate 9%
$410,589
$410.6K
Market Conditions
NOI Build-Up for 2,208 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
$56.4K $25.56/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$52.8K $23.91/SF
− OpEx
−$15.8K −$7.17/SF
NOI
$37.0K $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%
$739,060
Cap Rate 7%
$527,900
Cap Rate 9%
$410,589
Alternative Uses
Best Use
Multifamily LT 5
$527.9K
$461.9K – $615.9K
NOI $36,953 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$485.1K
$424.4K – $565.9K
NOI $33,955 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$576.6K
$504.5K – $672.7K
NOI $40,359 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Explore this area
Business Placement
Demographics for 08854, NJ
60,545
Population
18,069
Households
3.4
Avg Household Size
34
Median Age
50%
College-Educated
92%
High-School Grad
18.9 sq mi
ZIP Area
3,203
Density / Sq Mi
$126,331
Median Household Income
$42,397
Median Earnings
$1,929
Median Rent
$423,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer flexible layouts, private kitchens, and substantial outdoor space for future customization.
Where is this duplex located?
The property is located at 425 N New Market Road Piscataway, NJ.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,208 square feet; Both residences offer 3 bedrooms and 1 full bath; First‑floor unit includes living room, formal dining room, and den/family room
