Renovated Duplex with Updated
For Sale
$859,000
Pending
662 Self Master Parkway, Union, NJ 07083
Two-unit residential property with refreshed interiors, stainless steel appliances, finished space, and vinyl siding.
Property Size1,500 SF
Days on Market156
Property Features for 662 Self Master Parkway
General Information
Standard status
Pending
Size
1,500 SF
Property subtype
Multi Family / 2-Two Story
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,982
Amenities
Yes
No
Asphalt Shingle
Finished
Vinyl Siding
Building Details
Year Built
1929
Buildings
1
Listing Agency:
RE/MAX FIRST REALTY II
(908) 664-1500
Listed By:
THAIS NINA-HAWKINS · License #311536
(908) 664-1500
Source:
Compass
Added: Mar 29
Changed: Aug 30
Last Checked: Aug 31 at 1:57AM
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 RE/MAX FIRST REALTY II
Investment Insights
Based on property information with market context.
This two-family property contains approximately 1,500 square feet and was built in 1929. The renovated interior includes spacious unit layouts, updated kitchens with stainless steel appliances, refreshed bathrooms, and abundant natural light. Finished interior space adds to the existing configuration, while vinyl siding completes the exterior.
Located at 662 Self Master Parkway in Union, New Jersey, the property offers a defined duplex layout for residential use. Its combination of two units, updated finishes, and established construction provides a straightforward multifamily configuration.
Located at 662 Self Master Parkway in Union, New Jersey, the property offers a defined duplex layout for residential use. Its combination of two units, updated finishes, and established construction provides a straightforward multifamily configuration.
Key Highlights
- Two‑family duplex configuration
- Approximately 1,500 square feet
- Renovated interiors with updated kitchens and bathrooms
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
$25,104
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
2.92%
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%
$502,080
$502.1K
Cap Rate 7%
$358,629
$358.6K
Cap Rate 9%
$278,933
$278.9K
Market Conditions
NOI Build-Up for 1,500 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
$38.3K $25.56/SF
− Vacancy
−$2.5K −$1.65/SF
EGI
$35.9K $23.91/SF
− OpEx
−$10.8K −$7.17/SF
NOI
$25.1K $16.74/SF
Area
Union 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%
$502,080
Cap Rate 7%
$358,629
Cap Rate 9%
$278,933
Alternative Uses
Best Use
Multifamily LT 5
$358.6K
$313.8K – $418.4K
NOI $25,104 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$329.5K
$288.3K – $384.5K
NOI $23,067 @ 7.0% cap · market cap 2.69%
Theoretical Best
Office A
$391.7K
$342.7K – $457.0K
NOI $27,418 @ 7.0% cap · market cap 3.19%
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
1,041
Businesses Nearby
Explore this area
Business Placement
Demographics for 07083, NJ
56,131
Population
20,792
Households
2.7
Avg Household Size
41
Median Age
41%
College-Educated
89%
High-School Grad
8.7 sq mi
ZIP Area
6,452
Density / Sq Mi
$118,106
Median Household Income
$58,443
Median Earnings
$1,938
Median Rent
$425,600
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 - Two-unit residential property with refreshed interiors, stainless steel appliances, finished space, and vinyl siding.
Where is this duplex located?
The property is located at 662 Self Master Parkway Union, NJ.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Two‑family duplex configuration; Approximately 1,500 square feet; Renovated interiors with updated kitchens and bathrooms
