Two-Family Home with
For Sale
$725,000
18 Stevens Avenue, Jersey City, NJ 07305
Spacious two-family residence offering two units plus a finished basement with added flexible rooms and full bath.
Property Size1,400 SF
Price / SF$517.86
Days on Market86
Property Features for 18 Stevens Avenue
General Information
Standard status
Active
Size
1,400 SF
Property subtype
Multi Family / 2-Two Story
Net Operating Income
$9,999
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,351
Amenities
Yes
Legal
Asphalt Shingle, Flat
Finished
Deck
Aluminum Siding
Building Details
Year Built
1925
Listing Agency:
RE/MAX SELECT
(973) 739-8008
Listed By:
LYANNE GIRALDO · License #399341
(973) 739-8008
Source:
Compass
Added: May 30
Changed: Aug 23
Last Checked: Aug 22 at 12:15PM
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 SELECT
Investment Insights
Based on property information with market context.
This two-family home provides two separate units, with each unit featuring 3 bedrooms and 1 full bath, along with large living areas and spacious bedrooms with walk-in closets. The first-floor unit includes access to a private deck. A finished basement adds additional flexibility, including 2 flexible rooms and a full bath.
Set on a large backyard with shared driveway access, the property offers outdoor space and potential for off-street parking. The location in Jersey City’s Greenville area is described as being minutes from public transportation, shopping, parks, and major highways, supported by the provided bike, walk, and transit scores.
The configuration supports a variety of residential uses, whether you plan to occupy one unit while renting the other, or maintain both units as income-producing space.
Set on a large backyard with shared driveway access, the property offers outdoor space and potential for off-street parking. The location in Jersey City’s Greenville area is described as being minutes from public transportation, shopping, parks, and major highways, supported by the provided bike, walk, and transit scores.
The configuration supports a variety of residential uses, whether you plan to occupy one unit while renting the other, or maintain both units as income-producing space.
Key Highlights
- 1925‑built two‑family home with two units and a finished basement with added flexible rooms and 1 full bath
- Each unit offers 3 bedrooms and 1 full bath, with large living areas and spacious bedrooms plus walk‑in closets
- First‑floor unit includes access to a private deck
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
$31,773
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
4.38%
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%
$635,460
$635.5K
Cap Rate 7%
$453,900
$453.9K
Cap Rate 9%
$353,033
$353.0K
Market Conditions
NOI Build-Up for 1,400 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
$47.9K $34.20/SF
− Vacancy
−$2.5K −$1.78/SF
EGI
$45.4K $32.42/SF
− OpEx
−$13.6K −$9.73/SF
NOI
$31.8K $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%
$635,460
Cap Rate 7%
$453,900
Cap Rate 9%
$353,033
Alternative Uses
Best Use
Multifamily LT 5
$453.9K
$397.2K – $529.6K
NOI $31,773 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$407.2K
$356.3K – $475.0K
NOI $28,501 @ 7.0% cap · market cap 3.93%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 07305, NJ
67,947
Population
28,297
Households
2.4
Avg Household Size
36
Median Age
35%
College-Educated
88%
High-School Grad
5.7 sq mi
ZIP Area
11,921
Density / Sq Mi
$77,126
Median Household Income
$47,822
Median Earnings
$1,610
Median Rent
$418,200
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 - Spacious two-family residence offering two units plus a finished basement with added flexible rooms and full bath.
Where is this duplex located?
The property is located at 18 Stevens Avenue Jersey City, NJ.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 1925‑built two‑family home with two units and a finished basement with added flexible rooms and 1 full bath; Each unit offers 3 bedrooms and 1 full bath, with large living areas and spacious bedrooms plus walk‑in closets; First‑floor unit includes access to a private deck
