Duplex With Two-Bed
For Sale
Under Contract
$469,900
92 Redmond Street, New Brunswick, NJ 08901
Residential Income, New Brunswick, NJ
Property Size1,776 SF
Lot Size0.06 Acres
Price / SF$264.58
Days on Market56
Property Features for 92 Redmond Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-5A
Zoning description
Conform to Zoning
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Den, Bathroom 2, Bedroom 2, Bedroom 3, Family Room, Basement, Bedroom 4, Bathroom 1, Bedroom 1
Parking features
On Street
Interior features
Unit 1(1 Bath, 2 Bedrooms, Den/Family Room, Kitchen, Living Room), Unit 2(1 Bath, 2 Bedrooms, Den/Family Room, Kitchen, Living Room)
Appliances
Water Heater(Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator)
Subdivision
First Ward
Lot features
Level, Near Public Transit, Near Shopping
Elementary school district
New Brunswick Ps
Middle school district
New Brunswick Ps
High school district
New Brunswick Ps
Directions
Commercial Avenue To Redmond 92 Redmond Street
Standard status
Active Under Contract
APN
1300152000000039
Size
1,776 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6943
Utilities
Sewer type
Public Sewer
Heating system
Steam, Other (Heating)
Water source
Public
Building Details
Year built
1912
Floors in Building
2
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
BORAIE REALTY, LLC
(732) 846-3700
Listed By:
John Winant
(732) 846-3700
Added: Jun 29
Changed: Aug 19
Last Checked: Aug 23 at 1:06AM
MLS# 2662382M
Copyright © 2026 All Jersey MLS. 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 duplex at 92 Redmond Street features two residential units, each offering two bedrooms, a kitchen, a living room, and a den or family room. The home has steam heating with two steam furnaces described as fairly new. Construction materials include vinyl siding, and the roof is asphalt. Public utilities include public water and public sewer, with on-street parking. Interior elements listed include family room space, multiple bedrooms, and two bathrooms, plus basement space.
Built in 1912, the property sits on a 0.0574-acre lot and has a total property size of 1,776 square feet. The owner is painting the front door and rear steps, reflecting some near-term cosmetic updates.
The unit and room layouts provide separate living spaces for two households within the same structure, with each unit having kitchen and living areas alongside additional den or family room space.
Built in 1912, the property sits on a 0.0574-acre lot and has a total property size of 1,776 square feet. The owner is painting the front door and rear steps, reflecting some near-term cosmetic updates.
The unit and room layouts provide separate living spaces for two households within the same structure, with each unit having kitchen and living areas alongside additional den or family room space.
Key Highlights
- R‑5A zoning duplex with two separate units
- Each unit includes 2 bedrooms, kitchen, living room, and den/family room
- Two steam furnaces described as fairly new; steam heating
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
Multi-tenant
Tenancy
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 - Duplex in R-5A zoning with steam heat, two 2-bedroom units, vinyl siding, public water and public sewer.
Where is this duplex located?
The property is located at 92 Redmond Street 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: R‑5A zoning duplex with two separate units; Each unit includes 2 bedrooms, kitchen, living room, and den/family room; Two steam furnaces described as fairly new; steam heating
