Renovated Duplex with
New
For Sale
$845,000
508 2nd Street, Carlstadt, NJ 07072
Multi-Family, Carlstadt, NJ
Property Size3,322 SF
Lot Size0.12 Acres
Price / SF$254.36
Days on Market6
Property Features for 508 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Residential
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bathroom 2, Basement, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 5
Parking features
Carport, Off Street, Oversize, On Street
Patio and Porch features
Patio
Interior features
Recessed Lighting
Basement
Partially Finished, Full
Directions
From Division Ave make a left and the building is on the left.
Standard status
Active
APN
05-00051-0000-00007
Size
3,322 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9471
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Multi Units
Water source
Public
Amenities
covered patio
partially finished basement
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Flooring type
Tile - Ceramic, Vinyl, Wood
Roof type
Shingle
Listing Agency:
RE/MAX Homeland Realtors · RE/MAX International
(732) 462-2222
Listed By:
David Borrero · License #1430125
(917) 681-2603
Added: Sep 20
Changed: Sep 24
Last Checked: Sep 25 at 5:06AM
MLS# 22629819
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 duplex includes a fully renovated first-floor residence with updated flooring, a new kitchen with quartz countertops and appliances, and a completely renewed bathroom. The layout includes recessed lighting, multiple flooring types, baseboard heat, multi-unit cooling, and a partially finished basement. The upper residence is currently rented and offers three bedrooms and one full bathroom. Outdoor improvements include a covered patio, spacious backyard, private driveway, and a two-car garage, with additional carport, off-street, and on-street parking options. Built in 1900, the property contains 3,322 square feet on a 0.12-acre lot. Public water and sewer serve the property, while cable is available. The home is located in Carlstadt, Bergen County, near major highways, restaurants, shopping, and local activities.
Key Highlights
- 3,322‑square‑foot duplex on a 0.12‑acre lot
- Renovated first‑floor residence with new kitchen, quartz countertops, appliances, flooring, and bathroom
- Upper unit is currently rented and includes 3 bedrooms and 1 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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Open Analytics
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
View Realmo Analytics
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-family property with an updated lower residence, a rented upper unit, outdoor space, and dedicated parking.
Where is this duplex located?
The property is located at 508 2nd Street 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 on a 0.12‑acre lot; Renovated first‑floor residence with new kitchen, quartz countertops, appliances, flooring, and bathroom; Upper unit is currently rented and includes 3 bedrooms and 1 full bathroom
