Side-by-Side
For Sale
$550,000
87-89 W Somerset St, Raritan, NJ 08869
Multi-Family, Duplex-Side by Side, Raritan Boro, NJ
Property Size2,084 SF
Lot Size0.11 Acres
Price / SF$263.92
Days on Market61
Property Features for 87-89 W Somerset St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bedroom 1, Basement, Bathroom 2, Bedroom 2, Bathroom 1
Parking
4
Interior features
Blinds, Carbon Monoxide Detector, Smoke Detector
Middle school
BRIDG-RAR
High school
BRIDG-RAR
Directions
From 202: W Somerset St. From 206/28: follow signs to Raritan, then W Somerset St. From 22: 202 S to W Somerset St. Property on right.
Standard status
Active
Size
2,084 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7370
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Other (Heating), Baseboard, Steam
Water source
Public
Building Details
Year built
1900
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS TOWNE SQUARE REAL · Keller Williams Realty
Listed By:
KATHLEEN ANN JADOC
(908) 766-0085
Added: Aug 11
Changed: Oct 3
Last Checked: Oct 10 at 11:06AM
MLS# 4046263
Copyright © 2026 Garden State MLS, LLC. 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 2,084-square-foot duplex contains two residential units, with each unit offering 2 bedrooms and 1 full bath. The property includes a basement, shingle roofing, baseboard, steam, and hot-water heating systems, along with public water and public sewer service. Built in 1900, the building also includes blinds, carbon monoxide detectors, and smoke detectors.
Located at 87-89 W Somerset St in Raritan Boro, the property is near downtown shops, restaurants, and the train station. Parking is available for up to 4 cars. The property is within the Bridgewater-Raritan Regional School District and may accommodate either an owner-occupant or an investor.
Located at 87-89 W Somerset St in Raritan Boro, the property is near downtown shops, restaurants, and the train station. Parking is available for up to 4 cars. The property is within the Bridgewater-Raritan Regional School District and may accommodate either an owner-occupant or an investor.
Key Highlights
- 2,084 square feet with two residential units
- Each unit includes 2 bedrooms and 1 full bath
- Parking for up to 4 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,742
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,840
$594.8K
Cap Rate 7%
$424,886
$424.9K
Cap Rate 9%
$330,467
$330.5K
Market Conditions
NOI Build-Up for 2,084 SF
Gross rent
$45.0K $21.60/SF
− Vacancy
−$2.5K −$1.21/SF
EGI
$42.5K $20.39/SF
− OpEx
−$12.7K −$6.12/SF
NOI
$29.7K $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%
$594,840
Cap Rate 7%
$424,886
Cap Rate 9%
$330,467
Alternative Uses
Best Use
Multifamily LT 5
$424.9K
$371.8K – $495.7K
NOI $29,742 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$369.8K
$323.6K – $431.4K
NOI $25,886 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$544.2K
$476.2K – $634.9K
NOI $38,092 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
800
Businesses Nearby
Explore this area
Business Placement
Demographics for 08869, NJ
7,835
Population
3,257
Households
2.4
Avg Household Size
39
Median Age
40%
College-Educated
90%
High-School Grad
2.0 sq mi
ZIP Area
3,918
Density / Sq Mi
$103,699
Median Household Income
$50,108
Median Earnings
$1,927
Median Rent
$449,200
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 residential units offer matching layouts with on-site parking and access to downtown amenities.
Where is this duplex located?
The property is located at 87-89 W Somerset St Raritan, NJ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 2,084 square feet with two residential units; Each unit includes 2 bedrooms and 1 full bath; Parking for up to 4 cars
