114 Walnut Street, Audubon, NJ 08106

Property Description

Fully renovated turnkey duplex in the heart of Audubon. This is a rare opportunity in a town where multifamily homes are almost never available. Both units have been upgraded with modern finishes, smart layouts, and updated systems, making this property ideal for house hackers, investors, or multi generational buyers. The bottom unit spans two levels and offers four bedrooms, two and a half updated baths, a modern kitchen, a finished basement that provides additional living or flex space, and a large rear addition with direct yard access. The top unit features a private entrance, three bedrooms, a full bath, and a finished third-floor bonus level that works perfectly for an adult child, extended family, an in-law setup, or a private workspace. Buyers have three strong use scenarios to choose from: Live in one unit and rent the other to offset most or all of your mortgage. Rent both units and potentially generate $5,800 to $6,200 per month based on current Audubon rental trends for upgraded three and four bedroom homes. Use one unit for an adult child or in-laws, giving privacy, independence, and proximity for support. Exceptional Rental Market: A recent two-bedroom rental in Audubon achieved $3,100 per month for 1,030 sq ft, which equals $3.01 per sq ft. Applying that same benchmark to this duplex’s 2,380 sq ft suggests a potential rental value of over $7,100 per month, making the conservative rent projection of $5,800 to $6,200 both realistic and well-supported by market demand. Strong Investment Metrics: At projected gross rents of $69,600 to $74,400 annually, the property delivers an estimated gross rent yield of 11 to 12 percent. After standard operating expenses, the expected ROI falls in the mid-six percent range, which is exceptional for a fully renovated, low-maintenance multifamily asset in a highly desirable, walkable community. Turnkey, modern, flexible, and with no comparable multifamily homes currently available in Audubon, this is the type of property that rarely hits the market. The listing has now been refreshed and updated, making this the perfect time to take a new look. Schedule your private showing today.