Two-Unit Duplex with
For Sale
$849,999
44 N Whittier Street N, Carteret, NJ 07008
Residential Income, Carteret, NJ
Property Size3,000 SF
Lot Size0.11 Acres
Price / SF$283.33
Days on Market96
Property Features for 44 N Whittier Street N
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Buyer Should Verify
Bathrooms
4
Full bathrooms
4
Rooms
Family Room, Bathroom 3, Bathroom 4, Bathroom 2, Den, Dining Room, Bathroom 1
Parking features
Garage
Interior features
Unit 1(Dining Room, 3 Bedrooms, Kitchen, Living Room, 2+ Baths, Den/Family Room), Unit 2(Dining Room, 3 Bedrooms, Kitchen, Living Room, 2+ Baths, Den/Family Room)
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
Subdivision
Fourth Mppl Really & Cos
Lot features
Corner Lot
Elementary school district
Carteret Borough School Distri
Middle school district
Carteret Borough School Distri
High school district
Carteret Borough School Distri
Standard status
Active
APN
010630600000000603
Size
3,000 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
12089
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
central air conditioning
forced hot air heating
laundry facilities
Building Details
Year built
2006
Floors in Building
3
Building materials
Brick, Vinyl Siding
Listing Agency:
J.J. ELEK REALTY CO.
(732) 634-9100
Listed By:
Sukhwinder Kaur
(732) 596-2118
Added: Jun 2
Changed: Sep 1
Last Checked: Sep 5 at 4:06AM
MLS# 2616932R
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.
Located at 44 N Whittier Street N in Carteret, New Jersey, this 3,000-square-foot duplex was built in 2006 on a 0.1148-acre lot. The property contains two residences, each with three bedrooms, two full bathrooms, a kitchen, living room, dining room, and den or family room. Both units are equipped with central air conditioning and forced-air heating.
The ground level includes a two-car garage and laundry facilities. Unit appliances include a range/oven and refrigerator, while the property is served by public water and public sewer. Brick and vinyl siding complete the exterior. Two long-term tenants are currently in place, providing an existing rental arrangement for the new owner.
The ground level includes a two-car garage and laundry facilities. Unit appliances include a range/oven and refrigerator, while the property is served by public water and public sewer. Brick and vinyl siding complete the exterior. Two long-term tenants are currently in place, providing an existing rental arrangement for the new owner.
Key Highlights
- 3,000 square feet across two residential units
- Each unit includes 3 bedrooms and 2 full bathrooms
- Built in 2006 on a 0.1148‑acre lot
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
$50,209
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
5.91%
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%
$1,004,180
$1.0M
Cap Rate 7%
$717,271
$717.3K
Cap Rate 9%
$557,878
$557.9K
Market Conditions
NOI Build-Up for 3,000 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
$76.7K $25.56/SF
− Vacancy
−$5.0K −$1.65/SF
EGI
$71.7K $23.91/SF
− OpEx
−$21.5K −$7.17/SF
NOI
$50.2K $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 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%
$1,004,180
Cap Rate 7%
$717,271
Cap Rate 9%
$557,878
Alternative Uses
Best Use
Multifamily LT 5
$717.3K
$627.6K – $836.8K
NOI $50,209 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$659.1K
$576.7K – $768.9K
NOI $46,134 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 6.45%
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
775
Businesses Nearby
Explore this area
Business Placement
Demographics for 07008, NJ
25,342
Population
8,717
Households
2.9
Avg Household Size
37
Median Age
28%
College-Educated
85%
High-School Grad
4.4 sq mi
ZIP Area
5,760
Density / Sq Mi
$87,712
Median Household Income
$42,770
Median Earnings
$2,012
Median Rent
$370,100
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 - Each residence offers three bedrooms, two full bathrooms, central air conditioning, and forced-air heating.
Where is this duplex located?
The property is located at 44 N Whittier Street N Carteret, NJ.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: 3,000 square feet across two residential units; Each unit includes 3 bedrooms and 2 full bathrooms; Built in 2006 on a 0.1148‑acre lot
