Two-Family
For Sale
$469,900
92 Redmond St, New Brunswick, NJ 08901
Two residential units offer flexible room layouts and steam heat near Lord Sterling Elementary School.
Property Size1,776 SF
Price / SF$264.58
Days on Market47
Property Features for 92 Redmond St
General Information
Standard status
Active
Size
1,776 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1912
Buildings
1
Listing Agency:
BORAIE REALTY, LLC
(732) 846-3700
Listed By:
JOHN H. WINANT
Source:
Thebansalteam
Added: Jul 14
Changed: Aug 28
Last Checked: Aug 28 at 8:07AM
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 BORAIE REALTY, LLC
Investment Insights
Based on property information with market context.
This two-family duplex contains 1,776 square feet and was built in 1912. Each unit includes two bedrooms, a kitchen, living room, and an additional room, creating a consistent layout across both residences. The property is equipped with two steam furnaces, described as fairly new in the available information.
The home is located near Lord Sterling Elementary School in New Brunswick. Front-door and rear-step painting is underway, providing an active exterior maintenance item for consideration. The combination of two residential units, separate living areas, and supplementary rooms supports the property’s duplex configuration.
The home is located near Lord Sterling Elementary School in New Brunswick. Front-door and rear-step painting is underway, providing an active exterior maintenance item for consideration. The combination of two residential units, separate living areas, and supplementary rooms supports the property’s duplex configuration.
Key Highlights
- Two‑family property with 1,776 square feet
- Each unit includes 2 bedrooms, kitchen, living room, and an extra room
- Two steam furnaces described as fairly new
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
$29,723
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
6.33%
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%
$594,460
$594.5K
Cap Rate 7%
$424,614
$424.6K
Cap Rate 9%
$330,256
$330.3K
Market Conditions
NOI Build-Up for 1,776 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
$45.4K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$42.5K $23.91/SF
− OpEx
−$12.7K −$7.17/SF
NOI
$29.7K $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%
$594,460
Cap Rate 7%
$424,614
Cap Rate 9%
$330,256
Alternative Uses
Best Use
Multifamily LT 5
$424.6K
$371.5K – $495.4K
NOI $29,723 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$390.2K
$341.4K – $455.2K
NOI $27,311 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$463.7K
$405.8K – $541.0K
NOI $32,462 @ 7.0% cap · market cap 6.91%
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
3,654
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 offer flexible room layouts and steam heat near Lord Sterling Elementary School.
Where is this duplex located?
The property is located at 92 Redmond St New Brunswick, NJ.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Two‑family property with 1,776 square feet; Each unit includes 2 bedrooms, kitchen, living room, and an extra room; Two steam furnaces described as fairly new
