Two-Family Colonial with Detached
For Sale
$599,000
51 W 2nd St, Bound Brook, NJ 08805
Both residences have two bedrooms and eat-in kitchens, with a fenced yard and covered patio outdoors.
Property Size1,962 SF
Price / SF$305.30
Days on Market36
Property Features for 51 W 2nd St
General Information
Standard status
Active
Size
1,962 SF
Total Parking Spaces
2
Property subtype
Multi Family Home
Net Operating Income
$9,999
Additional Details
Highway Access
Yes
Amenities
sun-filled living room
eat-in kitchen
pantry
direct attic access
partially finished lower level
private fenced yard
covered pergola patio
above ground pool
storage shed
Gazebo
OpenPrch
Patio
PoolAbov
FencVnyl
Building Details
Building Size
1,962 SF
Year Built
1937
Units
2
Construction
Colonial
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(973) 233-2300
Listed By:
Michael C. Nastu
(845) 492-7261
Source:
Culturaunitedrealty
Added: Sep 19
Changed: Oct 23
Last Checked: Oct 23 at 10:19AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This two-family Colonial contains two residences, each with two bedrooms and an eat-in kitchen. The first unit also includes a living room, while the second has a pantry, living room, and access to the attic. A partially finished lower level adds usable interior space. Outside, the property has a fenced yard, covered pergola patio, above-ground pool, and storage shed. A detached one-car garage and wide driveway provide off-street parking.
The home is at 51 2nd Street in Bound Brook, near downtown, NJ Transit, shopping, dining, and major highways.
The home is at 51 2nd Street in Bound Brook, near downtown, NJ Transit, shopping, dining, and major highways.
Key Highlights
- Two‑family Colonial with two‑bedroom residences
- Unit 2 includes a pantry and direct attic access
- Partially finished lower level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,001
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,020
$560.0K
Cap Rate 7%
$400,014
$400.0K
Cap Rate 9%
$311,122
$311.1K
Market Conditions
NOI Build-Up for 1,962 SF
Gross rent
$42.4K $21.60/SF
− Vacancy
−$2.4K −$1.21/SF
EGI
$40.0K $20.39/SF
− OpEx
−$12.0K −$6.12/SF
NOI
$28.0K $14.27/SF
Area
Somerset County, NJ
Vacancy
5.61%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$560,020
Cap Rate 7%
$400,014
Cap Rate 9%
$311,122
Alternative Uses
Best Use
Multifamily LT 5
$400.0K
$350.0K – $466.7K
NOI $28,001 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$348.1K
$304.6K – $406.2K
NOI $24,370 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$512.3K
$448.3K – $597.7K
NOI $35,862 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 08805, NJ
13,948
Population
5,524
Households
2.5
Avg Household Size
37
Median Age
33%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
4,810
Density / Sq Mi
$84,201
Median Household Income
$41,874
Median Earnings
$1,859
Median Rent
$393,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two bedrooms and eat-in kitchens, with a fenced yard and covered patio outdoors.
Where is this duplex located?
The property is located at 51 W 2nd St Bound Brook, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑family Colonial with two‑bedroom residences; Unit 2 includes a pantry and direct attic access; Partially finished lower level
