Two-Unit Duplex with
For Sale
$289,999
506 Bridgeboro Street, Riverside, NJ 08075
Vacant residential income property with separate utilities by unit and one shared water meter.
Property Size1,428 SF
Price / SF$203.08
Days on Market198
Property Features for 506 Bridgeboro Street
General Information
Standard status
Active
Size
1,428 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Fee Simple
Zoning
R2
Taxes and HOA fees
Annual Taxes
$5,803
Amenities
No
Stove, Washer, Dryer, Water Heater, Refrigerator
Hookup, Lower Floor
Wood Frame
No Pool
Above Grade
Porch(es)
Building Details
Year Built
1925
Listing Agency:
Weichert Realtors - Moorestown
(856) 366-9240
Listed By:
Kurtis Szatkowski · License #2549990
(856) 366-9240
Source:
Compass
Added: Feb 14
Changed: Aug 30
Last Checked: Aug 30 at 4:00PM
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 Weichert Realtors - Moorestown
Investment Insights
Based on property information with market context.
This two-unit duplex was built in 1925 and contains 1,428 square feet. The first-floor residence offers 1 bedroom and 1 bathroom, while the second-floor residence includes 2 bedrooms and 1 bathroom. Both units are currently vacant and include practical residential fixtures and appliances, including stoves, refrigerators, washers, dryers, and water heaters. The property also has a porch and wood-frame construction.
Utilities are separately metered by unit except for water, which is served by one meter. The property is zoned R2 and located at 506 Bridgeboro Street in Riverside, New Jersey. The buyer will be responsible for obtaining the certificate of occupancy, and inspections are for informational purposes only; the seller will not complete repairs.
Utilities are separately metered by unit except for water, which is served by one meter. The property is zoned R2 and located at 506 Bridgeboro Street in Riverside, New Jersey. The buyer will be responsible for obtaining the certificate of occupancy, and inspections are for informational purposes only; the seller will not complete repairs.
Key Highlights
- Two separate dwelling units, both currently vacant
- 1,428 square feet on a 0.07‑acre lot
- First‑floor unit: 1 bedroom and 1 bathroom
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
$23,899
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
8.24%
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%
$477,980
$478.0K
Cap Rate 7%
$341,414
$341.4K
Cap Rate 9%
$265,544
$265.5K
Market Conditions
NOI Build-Up for 1,428 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
$36.5K $25.56/SF
− Vacancy
−$2.4K −$1.65/SF
EGI
$34.1K $23.91/SF
− OpEx
−$10.2K −$7.17/SF
NOI
$23.9K $16.74/SF
Area
Paterson, 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%
$477,980
Cap Rate 7%
$341,414
Cap Rate 9%
$265,544
Alternative Uses
Best Use
Multifamily LT 5
$341.4K
$298.7K – $398.3K
NOI $23,899 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$313.7K
$274.5K – $366.0K
NOI $21,960 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$372.9K
$326.3K – $435.0K
NOI $26,102 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 08075, NJ
30,327
Population
12,092
Households
2.5
Avg Household Size
39
Median Age
38%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
3,063
Density / Sq Mi
$94,576
Median Household Income
$47,979
Median Earnings
$1,427
Median Rent
$288,200
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 - Vacant residential income property with separate utilities by unit and one shared water meter.
Where is this duplex located?
The property is located at 506 Bridgeboro Street Riverside, NJ.
What is the asking price?
The asking price for this property is $289,999.
What are key features of this property?
This property features: Two separate dwelling units, both currently vacant; 1,428 square feet on a 0.07‑acre lot; First‑floor unit: 1 bedroom and 1 bathroom
