Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Elizabeth Two-Family Investment Opportunity Title is generated by Realmo AI

    231 CLARK PL, Elizabeth, NJ 07206

    View on Map
    Claim this Listing
    For Sale
    $649,000

    2 Family - ELIZABETH, NJ

    Added:
    Apr 28, 2026
    Days on Market:
    29
    Last Refresh:
    May 26 at 5:06 am

    Property Features for 231 CLARK PL

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    2
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Basement Y/N
    1
    Standard status
    Active

    Utilities

    Heating system
    Baseboard, Natural Gas

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    ANDRES OSPINA

    Listing agent ANDRES OSPINA License #1324882

    Listing office REAL 165 PASSAIC AVE, HADDON TOWNSHIP, NJ

    Listing date Apr 28, 2026

    MLS# 260007842 Listing URL

    Copyright © 2026 Realty MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two‑family property ideal for investment
    • Each unit features 3 bedrooms and 1 full bathroom
    • Convenient location near schools, parks, shopping, and public transportation
    • Finished attic and partially finished basement provide additional utility
    • First‑floor unit includes a formal dining room and eat‑in kitchen
    • Yard access for outdoor use

    Overview

    This two-family property is located on a quiet cul-de-sac in Elizabeth. The top-bottom style property features two units, each with 3 bedrooms and 1 full bathroom. The first-floor unit includes a living room, formal dining room, and an eat-in kitchen. The second-floor unit features a living room and kitchen. Additional space is available in the finished attic and partially finished basement. The property also includes a yard. The property is situated near local schools, parks, shopping, and public transportation. The second-floor unit is currently occupied.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.1832606
    Latitude
    40.6548669

    Nearby Similar for Sale

    • $680,000
      7,666 SF

      Established Restaurant and Lounge Business

      Turn-key restaurant and lounge in prime location with high visibility.
      1165 Dickinson St, Elizabeth City, NJ 07201-2211
      View Details
    • $679,999
      2,836 SF

      Multi-Family Home in Elizabeth City

      Two-family home with various living options in North Elizabeth.
      1039 Anna St, Elizabeth City, NJ 07201-1412
      View Details
    • $1,099,000
      5,000 SF

      Mixed-Use Corner Property For Sale

      Fully rented mixed-use corner property available in Elizabeth City.
      400 E Jersey St, Elizabeth City, NJ 07206-1306
      View Details
    • $875,000
      2,300 SF

      Renovated Mixed-Use Building in Elizabeth

      Renovated mixed-use property with commercial space and residential units.
      173 3Rd St, Elizabeth City, NJ 07206-1902
      View Details
    • $699,000
      3,917 SF

      Spacious Multi-Family Home Near Amenities

      Two-family home with spacious units, bonus attic, and private backyard.
      27 Jacques St, Elizabeth City, NJ 07201-2712
      View Details
    • $1,199,000
      2,500 SF

      Mixed-Use Investment Opportunity

      Mixed-use property with commercial space and residential units in Elizabeth.
      459 Fulton St, Elizabeth City, NJ 07206-2223
      View Details
    • $699,900
      3,600 SF

      Two-Unit Commercial Building For Sale

      Two-unit commercial building with versatile space and rear parking.
      506 Elizabeth Ave, Elizabeth City, NJ 07206-1104
      View Details
    • $785,000
      3,483 SF

      Mixed-Use Property with Restaurant Income

      Mixed-use property featuring a restaurant and residential units.
      442 Elizabeth Ave, Elizabeth City, NJ 07206-1103
      View Details
    • $1,150,000
      3,960 SF

      Custom-Built Multifamily Near Kean University

      Exceptional multifamily property near Kean University with investment potential.
      117-119 Stiles St, Elizabeth City, NJ 07208-1810
      View Details
    • $899,900
      9,999 SF

      Lounge, Tavern & Banquet Hall

      Multi-level entertainment and dining venue in Elizabeth City, NJ.
      264 N Broad St, Elizabeth City, NJ 07208-3701
      View Details
    • $450,000
      3,500 SF

      Turnkey Bar and Restaurant Opportunity

      Established bar and restaurant with liquor license and parking.
      1109 Elizabeth Ave, Elizabeth City, NJ 07201-2497
      View Details
    • $799,900
      3,180 SF

      Mixed-Use Property with Auto Shop

      Mixed-use property featuring an apartment, auto body shop, and dealership.
      539 S 5Th St, Elizabeth City, NJ 07206-1012
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property in Elizabeth near schools, parks, and transportation.
    Where is this duplex located?
    The property is located at 231 CLARK PL Elizabeth, NJ.
    What is the asking price?
    The asking price for this property is $649,000.
    What are key features of this property?
    This property features: Two‑family property ideal for investment; Each unit features 3 bedrooms and 1 full bathroom; Convenient location near schools, parks, shopping, and public transportation
    (855) 450-0442
    We can help!
    Listing Contact
    ANDRES OSPINA
    Real Estate License ID: 1324882
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    231 CLARK PL, ELIZABETH, NJ 07206
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!