Two-Unit Duplex with Renovation
New
For Sale
$750,000
124 Nelson Ave, Jersey City, NJ 07307
Multi-Family, 2-Two Story, Jersey City, NJ
Property Size2,120 SF
Lot Size0.06 Acres
Price / SF$353.77
Days on Market3
Property Features for 124 Nelson Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 4, Basement, Bedroom 2, Bedroom 3, Bathroom 1
Parking
2
Directions
John F Kennedy Blvd to Nelson ave- house on right
Standard status
Active
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8697
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
2
Number of units
2
Roof type
Shingle
Architectural style
Other
Listing Agency:
RE/MAX COMPETITIVE EDGE · RE/MAX International
(732) 548-5555
Listed By:
NAMITA MANGLIK · License #1536989
(908) 791-1010
Added: Sep 25
Last Checked: Sep 27 at 2:06PM
MLS# 4055199
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 duplex contains two residential units within approximately 2,120 square feet of existing building area. The property is being sold as-is and needs significant renovation. Its lot measures approximately 25 by 107 feet, or 0.06 acres. Public water and public sewer serve the property, and the roof is shingle. Redevelopment or new construction may be explored, subject to zoning review and municipal approvals.
Central Avenue’s shopping and dining, nearby parks, public transportation, and connections to Hoboken, Journal Square, and New York City are identified in the surrounding area.
Central Avenue’s shopping and dining, nearby parks, public transportation, and connections to Hoboken, Journal Square, and New York City are identified in the surrounding area.
Key Highlights
- Two separate residential units
- Approximately 2,120 square feet of existing building area
- Approximately 25' x 107' lot; 0.06 acres
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
2
Residential units
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 two-residence property is offered in as-is condition and requires substantial renovation.
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 separate residential units; Approximately 2,120 square feet of existing building area; Approximately 25' x 107' lot; 0.06 acres
