39 Union St, Carteret, NJ, 07008
About This Home
Rare opportunity to acquire a high-income-producing, fully occupied legal two-family property in Carteret. The majority of the home was rebuilt in 2023, with the original foundation dating back to 1907 retained. The seller invested extensively in the property with the intention of holding it as a long-term investment, completing major upgrades that include two NEW boilers / heating systems, COMPLETE new exterior siding, NEW windows, NEW electrical and plumbing systems, a partially upgraded roof, with 2 NEW kitchens and 4 NEW full baths. Both units received additional interior renovations in 2026, including NEW hardwood flooring throughout. The property offers a total of seven bedrooms and four full bathrooms, 2 kitchens with an open format concept, stable tenants with a consistent payment history, and EXCELLENT existing rental performance. Additional value-added features include TWO coin-operated laundry machines, a hardwired three-camera security system with, two separate basements providing substantial storage, and newer side- and backyard pavers. Located approximately half a block from a newly renovated park and turf field, the property also offers convenient access to shopping, schools, public transportation, and major roadways. This turnkey investment presents an OUTSTANDING opportunity for investors seeking immediate cash flow, tenant stability, and a substantially upgraded multifamily property in Middlesex County. The seller had planned to retain the property long term and is selling solely because the funds are needed for the new construction of a personal residence. This property provides steady income and positive cash flow.
Getting Around
Somewhat Walkable
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1907
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Water Heater(Gas),Water Heater,Unit 1(Range/Oven,Refrigerator)
Basement
- Has basement: Yes
- Basement: Full, Storage Space
Bedrooms & Bathrooms
- Bedrooms: 7
- Bathrooms: 4
Features
- Unit 1(Dining Room,3 Bedrooms,Kitchen,Living Room,2+ Baths),Unit 2(Dining Room,4 Bedrooms,Kitchen,2+ Baths)
Heating & Cooling
- Heating features: Baseboard
- Cooling features: None
Interior Area
- Total structure area: 2,124
- Total interior livable area: 2,124 sqft
Property
Details
- Parcel number: 0107603000000012
- Zoning: R50
Features
- Stories: 2
- Patio & porch: Patio
- Exterior features: Patio,Storage Shed
Lot
- Lot size: 2,500 sqft
- Features: See Remarks
- Lot size dimensions: 100.00 x 0.00
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Winter Weather
- Cold Wave
- Strong Wind
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across New Jersey Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $4,040 | $48,480 |
| Home Insurance * | $216 | $2,592 |
| Property Taxes | $1,325 | $15,900 |
| Electricity | $234 | $2,809 |
| Total | $5,815 | $69,780 |
Income You'd Need if You Spent...
New Jersey FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-13 | Listed for sale | $799,000 |
| 2026-07-09 | Listing removed | $2,850 |
| 2026-07-06 | Price change | $2,850 |
| 2026-07-02 | Price change | $2,700 |
| 2026-06-25 | Listed for rent | $3,050 |
| 2026-06-18 | Listing removed | $3,050 |
| 2026-05-15 | Price change | $3,050 |
| 2026-05-12 | Price change | $2,900 |
| 2026-04-25 | Price change | $3,050 |
| 2026-04-22 | Price change | $2,800 |
| 2026-04-15 | Price change | $3,150 |
| 2026-04-14 | Listed for rent | $3,500 |
| 2026-03-09 | Listing removed | $3,050 |
| 2026-03-05 | Listed for rent | $3,050 |
| 2025-11-15 | Listing removed | $3,050 |
| 2025-11-02 | Price change | $3,050 |
| 2025-10-26 | Price change | $2,950 |
| 2025-10-17 | Price change | $3,050 |
| 2025-10-15 | Price change | $2,775 |
| 2025-10-07 | Price change | $3,150 |
| 2025-09-29 | Price change | $2,950 |
| 2025-09-16 | Listed for rent | $3,150 |
| 2023-03-10 | Listing removed | -- |
| 2023-02-08 | Listed for rent | $2,950 |
| 2021-02-25 | Listing removed | -- |
| 2018-11-28 | Sold | $331,900 |
For Sale by Agent
View on Zillow