Two-Unit
New
For Sale
$750,000
124 Nelson Ave, Jersey City, NJ 07307
The existing residence requires substantial renovation and is being sold as-is.
Property Size2,120 SF
Lot Size0.06 Acres
Price / SF$353.77
Days on Market2
Property Features for 124 Nelson Ave
General Information
Standard status
Active
Size
2,120 SF
Lot size
0.06 Acres
Property subtype
Multi Family
Property Condition
Severity
Major Repairs Needed
Evidence
in need of significant renovation
Taxes and HOA fees
Annual Taxes
$8,697
Building Details
Units
2
Tenancy
Multi
Listing Agency:
RE/MAX Competitive Edge
Listed By:
NAMITA MANGLIK · License #1536989
(646) 599-0009
Source:
Elliman
Added: Sep 26
Last Checked: Sep 26 at 3:21PM
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 RE/MAX Competitive Edge
Investment Insights
Based on property information with market context.
This two-unit duplex contains approximately 2,120 square feet on a 25' x 107' lot. The building needs significant renovation and is offered in as-is condition. Redevelopment or new construction may be explored, subject to applicable zoning and municipal approvals; buyers are responsible for their own due diligence on use and approvals.
The property is at 124 Nelson Ave in Jersey City Heights, near Central Avenue’s retail and dining options, neighborhood parks, and public transportation. Connections to Hoboken, Journal Square, and New York City are also noted.
The property is at 124 Nelson Ave in Jersey City Heights, near Central Avenue’s retail and dining options, neighborhood parks, and public transportation. Connections to Hoboken, Journal Square, and New York City are also noted.
Key Highlights
- Two residential units in approximately 2,120 square feet of building area
- 25' x 107' lot
- Significant renovation needed; property conveyed as‑is
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
$48,114
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
6.42%
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%
$962,280
$962.3K
Cap Rate 7%
$687,343
$687.3K
Cap Rate 9%
$534,600
$534.6K
Market Conditions
NOI Build-Up for 2,120 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
$72.5K $34.20/SF
− Vacancy
−$3.8K −$1.78/SF
EGI
$68.7K $32.42/SF
− OpEx
−$20.6K −$9.73/SF
NOI
$48.1K $22.70/SF
Area
Jersey City, NJ
Vacancy
5.20%
Lease Rate
$34.20 /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%
$962,280
Cap Rate 7%
$687,343
Cap Rate 9%
$534,600
Alternative Uses
Best Use
Multifamily LT 5
$687.3K
$601.4K – $801.9K
NOI $48,114 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$616.5K
$539.5K – $719.3K
NOI $43,158 @ 7.0% cap · market cap 5.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,325
Businesses Nearby
Explore this area
Business Placement
Demographics for 07307, NJ
44,247
Population
18,762
Households
2.4
Avg Household Size
35
Median Age
46%
College-Educated
87%
High-School Grad
1.9 sq mi
ZIP Area
23,288
Density / Sq Mi
$80,745
Median Household Income
$52,729
Median Earnings
$1,708
Median Rent
$574,000
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 - The existing residence requires substantial renovation and is being sold as-is.
Where is this duplex located?
The property is located at 124 Nelson Ave Jersey City, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two residential units in approximately 2,120 square feet of building area; 25' x 107' lot; Significant renovation needed; property conveyed as‑is
