Well-Maintained Two-Family
312 S Spring St, Elizabeth, NJ 07201
Multi-Family, 2-Two Story - Elizabeth City, NJ
Property size:
2,439 SFLot size:
0.06 Acres- Added:
- Apr 7, 2026
- Days on Market:
- 57
- Last Refresh:
- Jun 2 at 10:06 am
Property Features for 312 S Spring St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Living Room
- Basement Y/N
- 1
- Standard status
- Pending
- Size
- 2,439 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9941
Utilities
- Heating system
- Baseboard, Electric (Heating)
Building Details
- Year built
- 1900
- Number of units
- 2
- Building materials
- Vinyl Siding
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent NICHOLAS WALSH (973) 539-6300
Listing office RE/MAX SELECT ONE MADISON AVE, Morristown, NJ (973) 539-6300
Listing date Apr 7, 2026
MLS# 4018856
Listing URL
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Legal 2‑family home ideal for owner‑occupancy or investment.
- Convenient location: just 0.8 miles from Elizabeth Train Station, and close to shopping, dining, parks, and major roadways.
- 2,439 sq ft of living space with two units: one with 3 bedrooms/2 baths, and another with 3 bedrooms/1 bath.
- Finished basement and finished attic provide additional flexible living space.
- Well‑maintained property with vinyl siding and asphalt/shingle roof.
- Spacious living areas and well‑sized rooms in both units.
Overview
This well-maintained legal 2-family home offers 2,439 sq ft of living space in a convenient Elizabeth location. Unit 1 features 3 bedrooms and 2 full baths, while Unit 2 offers 3 bedrooms and 1 full bath, each with spacious living areas and well-sized rooms. The property also includes a finished basement and a finished attic, providing additional flexible living space. The property is situated on a lot of 0.06 acres. Located approximately 0.8 miles from the Elizabeth Train Station, with close proximity to shopping, dining, parks, and major roadways.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $70.2k | $28.80 |
| − Vacancy | −$3.9k | −$1.58 |
| EGI | $66.4k | $27.22 |
| − OpEx | −$19.9k | −$8.16 |
| NOI | $46.5k | $19.05 |
2,439 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$663.8K
$580.8K – $774.4K
NOI $46,466 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$591.1K
$517.2K – $689.6K
NOI $41,377 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$903.4K
$790.5K – $1.05M
NOI $63,238 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Elizabeth
- County
- Union
- State
- New Jersey
- Longitude
- -74.20805
- Latitude
- 40.65903
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Legal 2-family home in Elizabeth, close to transportation and amenities.
Where is this duplex located?
The property is located at 312 S Spring St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $635,000.
What are key features of this property?
This property features: Legal 2‑family home ideal for owner‑occupancy or investment.; Convenient location: just 0.8 miles from Elizabeth Train Station, and close to shopping, dining, parks, and major roadways.; 2,439 sq ft of living space with two units: one with 3 bedrooms/2 baths, and another with 3 bedrooms/1 bath.
