Two-Unit Duplex
New
For Sale
$629,000
153 S Park Street, Elizabeth, NJ 07206
Multi-Family, Elizabeth, NJ
Property Size1,826 SF
Lot Size0.05 Acres
Price / SF$344.47
Days on Market1
Property Features for 153 S Park Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bathroom 1, Bedroom 5, Bedroom 2, Bedroom 1, Bedroom 3, Basement, Bathroom 2
Parking features
Off Street
Basement
Full
Directions
Second ave, right on s park, house in on the left
Standard status
Active
APN
04-00805-0000-00046
Size
1,826 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6626
Utilities
Sewer type
Public Sewer
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Listing Agency:
Keller Williams Shore Properties · Keller Williams Realty
Listed By:
Robert Banjany
(732) 830-1535
Added: Sep 15
Last Checked: Sep 15 at 3:06PM
MLS# 22629089
Copyright © 2026 More 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 two-unit duplex at 153 S Park Street provides 1,826 square feet of property size on a 0.05-acre lot. The layout includes one three-bedroom unit and one two-bedroom unit, with one full bathroom serving each residence. A basement is also included, and the building dates to 1900.
Property features include multi-unit cooling, off-street parking, public water, and public sewer. Located in Elizabeth, NJ 07206, the property offers a two-residence configuration suitable for occupying one unit while leasing the other or leasing both units.
Property features include multi-unit cooling, off-street parking, public water, and public sewer. Located in Elizabeth, NJ 07206, the property offers a two-residence configuration suitable for occupying one unit while leasing the other or leasing both units.
Key Highlights
- Two‑unit duplex with one three‑bedroom unit and one two‑bedroom unit
- 1,826 square feet on a 0.05‑acre lot
- Each unit includes one full bathroom
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
$34,787
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
5.53%
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%
$695,740
$695.7K
Cap Rate 7%
$496,957
$497.0K
Cap Rate 9%
$386,522
$386.5K
Market Conditions
NOI Build-Up for 1,826 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
$52.6K $28.80/SF
− Vacancy
−$2.9K −$1.58/SF
EGI
$49.7K $27.22/SF
− OpEx
−$14.9K −$8.16/SF
NOI
$34.8K $19.05/SF
Area
Elizabeth, NJ
Vacancy
5.50%
Lease Rate
$28.80 /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%
$695,740
Cap Rate 7%
$496,957
Cap Rate 9%
$386,522
Alternative Uses
Best Use
Multifamily LT 5
$497.0K
$434.8K – $579.8K
NOI $34,787 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$442.5K
$387.2K – $516.3K
NOI $30,977 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$676.3K
$591.8K – $789.1K
NOI $47,344 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,223
Businesses Nearby
Explore this area
Business Placement
Demographics for 07206, NJ
30,982
Population
9,712
Households
3.2
Avg Household Size
31
Median Age
8%
College-Educated
64%
High-School Grad
1.8 sq mi
ZIP Area
17,212
Density / Sq Mi
$60,992
Median Household Income
$38,541
Median Earnings
$1,543
Median Rent
$339,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate three-bedroom and two-bedroom units each include one full bath for occupancy or leasing flexibility.
Where is this duplex located?
The property is located at 153 S Park Street Elizabeth, NJ.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Two‑unit duplex with one three‑bedroom unit and one two‑bedroom unit; 1,826 square feet on a 0.05‑acre lot; Each unit includes one full bathroom
