Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    478 Walnut St Elizabeth, NJ 07201

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $575,000

    Two-family home in Elizabeth, NJ, ideal for investment.

    Lot size:
    0.08 Acres

    Property Features for 478 Walnut St

    General Information

    Lot size
    0.08 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Andrea Alummootil
    Source: Elliman

    Listing Agent: Andrea Alummootil

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Elizabeth Two-Family Home For Sale

    Located in Elizabeth, NJ, this two-family home presents an investment opportunity. The property features interiors and functional layouts suitable for owner-occupancy or rental income. A shared driveway provides off-street parking. The property includes a private backyard. The location offers proximity to shopping, restaurants, public transportation, and major highways. The property is being sold in as-is condition.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabeth
    County
    Union
    State
    New Jersey
    Longitude
    -74.2107478
    Latitude
    40.6723268

    Nearby Similar for Sale

    • $629,900
      Pending

      Two-Family Home, Elizabeth Port

      Spacious two-family home with rental income potential near transportation.
      327 Fulton St, Elizabethport, NJ 07206
      View Details
    • New
      $649,000
      2,160 SF

      Renovated Two-Family Home Near EWR

      Turn-key investment opportunity near Newark Airport and major transportation.
      216 Delaware St, Elizabethport, NJ 07206
      View Details
    • $749,999
      Pending

      Elizabeth City Fourplex Investment Opportunity

      Fully occupied four-unit multifamily property in a prime Elizabeth location.
      316-318 John St, Elizabeth, NJ 07202
      View Details
    • $980,000
      Pending

      Modern 2-Family Home Built 2022

      Well-maintained, recently built 2-family home perfect for owner-occupants or investors.
      728 Seaport Dr, Elizabeth, NJ 07201
      View Details
    • New
      $825,000
      0.14 Acres

      Well-Maintained Multi-Family in Elizabeth

      Two-family house in a desirable neighborhood, perfect for investment.
      753 Myrtle St, Elizabeth, NJ 07202
      View Details
    • $760,000
      0.06 Acres

      Elizabeth City Multi-Family Property

      Multi-family property in Elizabeth City, NJ for sale.
      433 3Rd Ave, Elizabeth, NJ 07206
      View Details
    • $800,000
      0.06 Acres

      Elizabeth City Two-Family Home

      Well-maintained two-family home with income potential in Elizabeth City.
      1073 Bond St, Elizabeth, NJ 07201
      View Details
    • $575,000
      Pending

      Updated Multi-Family Home

      Recently updated two-family home with investment potential.
      234 Lt Glenn Zamorski Dr, Elizabeth, NJ 07206
      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, NJ 07208
      View Details
    • $895,000
      5,000 SF

      Fully Occupied Commercial Property

      Commercial property with five income-producing units and on-site parking.
      425-427 3Rd Ave, Elizabeth, NJ 07206
      View Details
    • $1,200,000
      Pending

      Elizabeth City Multifamily Investment Opportunity

      Multifamily property for sale in Elizabeth City, New Jersey.
      146 Chilton St, Elizabeth, NJ 07202
      View Details
    • New
      $805,000
      5,250 SF

      Mixed-Use Property with Restaurant Income

      Three-story mixed-use property with restaurant and residential income potential.
      442 Elizabeth Ave, Elizabeth, NJ 07206
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-family home in Elizabeth, NJ, ideal for investment.
    Where is this duplex located?
    The property is located at 478 Walnut St Elizabeth, NJ.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: - Prime investment opportunity in the heart of Elizabeth, NJ.; - Two-family home ideal for owner-occupancy or rental income.; - Centrally located near shopping, restaurants, public transportation, and major highways.
    (201) 406-8015
    Request Owner's contact information
    478 Walnut St Elizabeth, NJ 07201
    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.
    478 Walnut St
    Elizabeth, NJ 07201
    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
    478 Walnut St Elizabeth, NJ 07201
    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

    We can help!
    Listing Contact
    Andrea Alummootil
    Real Estate License ID: 0344475
    (201) 406-8015
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.