Renovated Duplex with
New
For Sale
$845,000
508 2nd St, Carlstadt, NJ 07072
Two-family property with an updated first-floor residence, rented upper unit, private driveway, and covered outdoor living area.
Property Size3,322 SF
Price / SF$254.36
Days on Market4
Property Features for 508 2nd St
General Information
Standard status
Active
Size
3,322 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
covered patio
spacious backyard
partially finished basement
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Atlantic Shore
Listed By:
Curran Group
(732) 359-3203
Source:
Currangrp
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 9:44AM
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 Keller Williams Atlantic Shore
Investment Insights
Based on property information with market context.
This 3,322-square-foot duplex, built in 1900, combines an updated owner-occupant residence with a separately rented upper unit. The first floor has been fully renovated with new flooring, a kitchen featuring quartz countertops and new appliances, and a completely renewed bathroom. A partially finished basement adds usable interior space, while the covered patio and backyard extend the property's outdoor area.
The upper residence includes three bedrooms and one full bathroom and is currently leased, creating an established rental component. The property also includes a private driveway and two-car garage. Its Bergen County setting provides access to major highways, restaurants, shopping, and local activities.
The upper residence includes three bedrooms and one full bathroom and is currently leased, creating an established rental component. The property also includes a private driveway and two-car garage. Its Bergen County setting provides access to major highways, restaurants, shopping, and local activities.
Key Highlights
- 3,322‑square‑foot duplex built in 1900
- Fully renovated first‑floor residence with quartz kitchen counters and new appliances
- Currently rented upper unit with three bedrooms and one full 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
$55,598
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
6.58%
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%
$1,111,960
$1.1M
Cap Rate 7%
$794,257
$794.3K
Cap Rate 9%
$617,756
$617.8K
Market Conditions
NOI Build-Up for 3,322 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
$84.9K $25.56/SF
− Vacancy
−$5.5K −$1.65/SF
EGI
$79.4K $23.91/SF
− OpEx
−$23.8K −$7.17/SF
NOI
$55.6K $16.74/SF
Area
Bergen 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%
$1,111,960
Cap Rate 7%
$794,257
Cap Rate 9%
$617,756
Alternative Uses
Best Use
Multifamily LT 5
$794.3K
$695.0K – $926.6K
NOI $55,598 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$729.8K
$638.6K – $851.4K
NOI $51,086 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$867.4K
$759.0K – $1.01M
NOI $60,721 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,211
Businesses Nearby
Explore this area
Business Placement
Demographics for 07072, NJ
6,372
Population
2,733
Households
2.3
Avg Household Size
42
Median Age
32%
College-Educated
96%
High-School Grad
3.9 sq mi
ZIP Area
1,634
Density / Sq Mi
$94,854
Median Household Income
$49,563
Median Earnings
$1,503
Median Rent
$523,800
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-family property with an updated first-floor residence, rented upper unit, private driveway, and covered outdoor living area.
Where is this duplex located?
The property is located at 508 2nd St Carlstadt, NJ.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: 3,322‑square‑foot duplex built in 1900; Fully renovated first‑floor residence with quartz kitchen counters and new appliances; Currently rented upper unit with three bedrooms and one full bathroom
