Renovated Two-Family
For Sale
$649,000
119 Bergen Avenue, Kearny, NJ 07032
The property combines separate metering with updated interiors, stainless steel appliances, quartz counters, and porcelain bathrooms.
Property Size1,500 SF
Price / SF$432.67
Days on Market1607
Property Features for 119 Bergen Avenue
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi Family / 3-Three Story
Units
Unit Mix
1 x 3BR/1BA, 1 x 4BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,203
Amenities
3.0
Yes
No
7
3
Asphalt Shingle
Carbon Monoxide Detector, Fire Extinguisher, High Ceilings, Smoke Detector, Vinyl-Linoleum Floors
Unfinished
Aluminum Siding
Building Details
Year Built
1905
Buildings
1
Listing Agency:
Compass
Listed By:
Jonathan McKesten · License #298219
(203) 824-4464
Source:
Compass
Added: Apr 12, 2022
Changed: Aug 30
Last Checked: Aug 30 at 7:23PM
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 Compass
Investment Insights
Based on property information with market context.
This 1,500-square-foot duplex at 119 Bergen Avenue in Kearny, NJ 07032 contains two separately metered residential units. The first unit has three bedrooms and one bathroom, along with stainless steel kitchen appliances, White Calcutta Quartz countertops, and a porcelain bathroom. The second unit includes four bedrooms and two bathrooms across two floors, plus a sunlit office, with matching kitchen and bathroom finishes.
Renovation work includes new electrical, plumbing, appliances, windows, walls, and flooring. Additional property features include high ceilings, vinyl-linoleum floors, aluminum siding, asphalt shingle roofing, carbon monoxide and smoke detectors, and a fire extinguisher. The building was constructed in 1905.
Renovation work includes new electrical, plumbing, appliances, windows, walls, and flooring. Additional property features include high ceilings, vinyl-linoleum floors, aluminum siding, asphalt shingle roofing, carbon monoxide and smoke detectors, and a fire extinguisher. The building was constructed in 1905.
Key Highlights
- Two‑family duplex with separate metering
- 1,500‑square‑foot building in Kearny, NJ
- Unit 1 includes 3 bedrooms and 1 bathroom
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
$25,104
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
3.87%
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%
$502,080
$502.1K
Cap Rate 7%
$358,629
$358.6K
Cap Rate 9%
$278,933
$278.9K
Market Conditions
NOI Build-Up for 1,500 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
$38.3K $25.56/SF
− Vacancy
−$2.5K −$1.65/SF
EGI
$35.9K $23.91/SF
− OpEx
−$10.8K −$7.17/SF
NOI
$25.1K $16.74/SF
Area
Hudson County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$502,080
Cap Rate 7%
$358,629
Cap Rate 9%
$278,933
Alternative Uses
Best Use
Multifamily LT 5
$358.6K
$313.8K – $418.4K
NOI $25,104 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$329.5K
$288.3K – $384.5K
NOI $23,067 @ 7.0% cap · market cap 3.55%
Theoretical Best
Warehouse
$543.2K
$475.3K – $633.7K
NOI $38,022 @ 7.0% cap · market cap 5.86%
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
1,440
Businesses Nearby
Explore this area
Business Placement
Demographics for 07032, NJ
41,999
Population
15,340
Households
2.7
Avg Household Size
38
Median Age
29%
College-Educated
84%
High-School Grad
8.8 sq mi
ZIP Area
4,773
Density / Sq Mi
$83,212
Median Household Income
$45,251
Median Earnings
$1,649
Median Rent
$431,700
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 - The property combines separate metering with updated interiors, stainless steel appliances, quartz counters, and porcelain bathrooms.
Where is this duplex located?
The property is located at 119 Bergen Avenue Kearny, NJ.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two‑family duplex with separate metering; 1,500‑square‑foot building in Kearny, NJ; Unit 1 includes 3 bedrooms and 1 bathroom
