Under-Construction
For Sale
$1,250,000
1023 Grove St, Elizabeth, NJ 07202
Multi-Family, 2-Two Story, Elizabeth City, NJ
Property Size4,649 SF
Lot Size0.11 Acres
Price / SF$268.88
Days on Market92
Property Features for 1023 Grove St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 1, Basement, Bathroom 5, Bedroom 5, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 2, Bathroom 1
Parking
2
Interior features
Carbon Monoxide Detector
Exterior features
Sidewalk
Lot features
Level Lot
Elementary school
Battin MS
Middle school
Battin MS
High school
Elizabeth
Directions
Rahway Ave to Grove St
Standard status
Active
Size
4,649 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6268
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2026
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
BHGRE ELITE
(908) 316-8530
Listed By:
CHRISTIAN COBO · License #285389
(908) 884-5316
Added: Jul 7
Changed: Sep 14
Last Checked: Oct 6 at 4:06PM
MLS# 4039046
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.
Investment Insights
Based on property information with market context.
This under-construction duplex provides 4,649 square feet of interior space on a 0.11-acre lot. The room schedule includes six bedrooms, five bathrooms, and a basement, while central air and forced-air heating support year-round comfort. An oversized garage adds parking and storage capacity. The planned 2026 completion and shingle roof are also part of the property profile.
The property is located at 1023 Grove St in Elizabeth City, NJ 07202-2429. Public water and public sewer serve the site, and a sidewalk is included among the exterior features. Trinitas Regional Medical Center, transportation options, shopping centers, restaurants, and everyday services are identified in the surrounding area.
The property is located at 1023 Grove St in Elizabeth City, NJ 07202-2429. Public water and public sewer serve the site, and a sidewalk is included among the exterior features. Trinitas Regional Medical Center, transportation options, shopping centers, restaurants, and everyday services are identified in the surrounding area.
Key Highlights
- 4,649 square feet on a 0.11‑acre lot
- Six bedrooms, five bathrooms, and a basement
- Under construction with a planned 2026 build year
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,569
Cap Rate
7.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,771,380
$1.8M
Cap Rate 7%
$1,265,271
$1.3M
Cap Rate 9%
$984,100
$984.1K
Market Conditions
NOI Build-Up for 4,649 SF
Gross rent
$133.9K $28.80/SF
− Vacancy
−$7.4K −$1.58/SF
EGI
$126.5K $27.22/SF
− OpEx
−$38.0K −$8.16/SF
NOI
$88.6K $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 Rate 5%
$1,771,380
Cap Rate 7%
$1,265,271
Cap Rate 9%
$984,100
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $88,569 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$1.13M
$985.9K – $1.31M
NOI $78,869 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,538 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 07202, NJ
43,389
Population
15,866
Households
2.7
Avg Household Size
36
Median Age
13%
College-Educated
76%
High-School Grad
2.3 sq mi
ZIP Area
18,865
Density / Sq Mi
$68,071
Median Household Income
$40,505
Median Earnings
$1,508
Median Rent
$358,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - New construction with central air, forced-air heating, public utilities, and an oversized garage.
Where is this duplex located?
The property is located at 1023 Grove St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 4,649 square feet on a 0.11‑acre lot; Six bedrooms, five bathrooms, and a basement; Under construction with a planned 2026 build year
