Well-Maintained Two-Family
For Sale
$800,000
12 Geneva Street, Elizabethport, NJ 07206
Two separate 3-bedroom units with private backyards, laundry, and central heating and cooling.
Property Size2,312 SF
Price / SF$346.02
Days on Market132
Property Features for 12 Geneva Street
General Information
Standard status
Active
Size
2,312 SF
Property subtype
Multi Family / 3-Three Story
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,436
Amenities
Yes
Asphalt Shingle
Unfinished
Brick/Block, Vinyl Siding
Building Details
Year Built
2006
Listing Agency:
ONE WORLD REALTY
(732) 943-7030
Listed By:
OBIORA UDODI · License #263879
(732) 943-7030
Source:
Compass
Added: Apr 16
Changed: Aug 23
Last Checked: Aug 24 at 12:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ONE WORLD REALTY
Investment Insights
Based on property information with market context.
This well maintained two-family home offers two separate units, each featuring three bedrooms and two full bathrooms. Both units include central air and central heat, a dedicated laundry room, and solid hardwood flooring. Interior space is laid out with a kitchen plus a combined living and dining room, and each unit benefits from access to a private, well maintained backyard. In addition, the property includes a large basement that can support storage needs for the home.
The residence is situated on a quiet street with access to nearby airport, train, and bus transportation. Walk and transit accessibility are supported by the provided walkScore and transitScore, with bikeScore indicating the area is bikeable.
For buyers seeking a residential income property with a clear two-unit configuration, the home’s dual layout and in-unit conveniences such as central HVAC and laundry rooms can support straightforward day-to-day occupancy. The combination of private outdoor space and a shared large basement area adds practical utility for managing the property over time.
The residence is situated on a quiet street with access to nearby airport, train, and bus transportation. Walk and transit accessibility are supported by the provided walkScore and transitScore, with bikeScore indicating the area is bikeable.
For buyers seeking a residential income property with a clear two-unit configuration, the home’s dual layout and in-unit conveniences such as central HVAC and laundry rooms can support straightforward day-to-day occupancy. The combination of private outdoor space and a shared large basement area adds practical utility for managing the property over time.
Key Highlights
- Well‑maintained 2‑family home built in 2006 on a quiet street
- Each unit offers 3 bedrooms and 2 full bathrooms
- Central air/heat in both units
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
$44,046
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
5.51%
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%
$880,920
$880.9K
Cap Rate 7%
$629,229
$629.2K
Cap Rate 9%
$489,400
$489.4K
Market Conditions
NOI Build-Up for 2,312 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
$66.6K $28.80/SF
− Vacancy
−$3.7K −$1.58/SF
EGI
$62.9K $27.22/SF
− OpEx
−$18.9K −$8.16/SF
NOI
$44.0K $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%
$880,920
Cap Rate 7%
$629,229
Cap Rate 9%
$489,400
Alternative Uses
Best Use
Multifamily LT 5
$629.2K
$550.6K – $734.1K
NOI $44,046 @ 7.0% cap · market cap 5.51%
Second Best
Apartment 5plus
$560.3K
$490.3K – $653.7K
NOI $39,222 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$856.4K
$749.3K – $999.1K
NOI $59,945 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,134
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate 3-bedroom units with private backyards, laundry, and central heating and cooling.
Where is this duplex located?
The property is located at 12 Geneva Street Elizabethport, NJ.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Well‑maintained 2‑family home built in 2006 on a quiet street; Each unit offers 3 bedrooms and 2 full bathrooms; Central air/heat in both units
