Two-Unit Duplex with Detached
For Sale
$450,000
7 Freeman St, New Brunswick, NJ 08901
Two residential units include kitchens, dining areas, full baths, and additional finished attic space.
Property Size1,928 SF
Lot Size0.11 Acres
Price / SF$233.40
Days on Market51
Property Features for 7 Freeman St
General Information
Standard status
Active
Size
1,928 SF
Lot size
0.11 Acres
Property subtype
Residential Income
Occupancy
50%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,590
Building Details
Buildings
1
Listing Agency:
C-21 BARROOD REALTORS
(732) 297-7900
Listed By:
TONY G. CHEDID
Source:
Exprealty
Added: Jun 20
Changed: Aug 9
Last Checked: Aug 9 at 9:45AM
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 C-21 BARROOD REALTORS
Investment Insights
Based on property information with market context.
This 1,928-square-foot duplex contains two residential units, each arranged with a bedroom, living room, dining room, kitchen, and full bath. The first-floor unit is vacant and includes a new refrigerator and stove, while the second-floor unit is occupied by the owner. Additional finished attic space provides a bedroom, living room, and half bath.
The property includes a detached garage and a two-car-wide driveway. The roof is 5 years old, and the water heaters are 10 years old. The 50x99 lot adds outdoor space to the existing two-unit configuration, while the property’s condition leaves room for renovation and cosmetic improvement.
The property includes a detached garage and a two-car-wide driveway. The roof is 5 years old, and the water heaters are 10 years old. The 50x99 lot adds outdoor space to the existing two-unit configuration, while the property’s condition leaves room for renovation and cosmetic improvement.
Key Highlights
- 1,928 SF duplex with two residential units
- Each unit includes 1 bedroom, living room, dining room, kitchen, and 1 full bath
- Finished attic includes a bedroom, living room, and 1/2 bath
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
$32,267
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
7.17%
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%
$645,340
$645.3K
Cap Rate 7%
$460,957
$461.0K
Cap Rate 9%
$358,522
$358.5K
Market Conditions
NOI Build-Up for 1,928 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
$49.3K $25.56/SF
− Vacancy
−$3.2K −$1.65/SF
EGI
$46.1K $23.91/SF
− OpEx
−$13.8K −$7.17/SF
NOI
$32.3K $16.74/SF
Area
Middlesex 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%
$645,340
Cap Rate 7%
$460,957
Cap Rate 9%
$358,522
Alternative Uses
Best Use
Multifamily LT 5
$461.0K
$403.3K – $537.8K
NOI $32,267 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$423.6K
$370.6K – $494.2K
NOI $29,649 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$503.4K
$440.5K – $587.4K
NOI $35,241 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
50%
Occupancy
Location Intelligence
Trade Area within ½ mile
3,610
Businesses Nearby
Explore this area
Business Placement
Demographics for 08901, NJ
56,278
Population
17,071
Households
3.3
Avg Household Size
27
Median Age
24%
College-Educated
66%
High-School Grad
6.3 sq mi
ZIP Area
8,933
Density / Sq Mi
$60,248
Median Household Income
$25,192
Median Earnings
$1,790
Median Rent
$316,800
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 residential units include kitchens, dining areas, full baths, and additional finished attic space.
Where is this duplex located?
The property is located at 7 Freeman St New Brunswick, NJ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 1,928 SF duplex with two residential units; Each unit includes 1 bedroom, living room, dining room, kitchen, and 1 full bath; Finished attic includes a bedroom, living room, and 1/2 bath
