Updated Duplex with Finished
New
For Sale
$1,200,000
203 HANCOCK AVE JC, Jersey City, NJ 07307
Vacant two-unit property with updated kitchens, finished lower level, and a private basement entrance.
Property Size2,184 SF
Price / SF$549.45
Days on Market6
Property Features for 203 HANCOCK AVE JC
General Information
Standard status
Active
Size
2,184 SF
Property subtype
2 Family
Listing Agency:
COMPASS NEW JERSEY, LLC
(551) 284-0175
Listed By:
FERNANDO LEYVA
(551) 284-0175
Source:
Propertiesbysouthern
Added: Aug 24
Changed: Aug 28
Last Checked: Aug 28 at 8:39AM
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 NEW JERSEY, LLC
Investment Insights
Based on property information with market context.
This duplex at 203 Hancock Ave in Jersey City Heights provides 2,184 square feet across two residential levels plus a finished basement. The first-floor residence includes two bedrooms, one full bathroom, a living room, dining area, renovated kitchen with quartz counters and stainless steel appliances, hardwood flooring, 10-foot ceilings, forced-air heat, and central air conditioning. The second floor offers three bedrooms, a living room, an eat-in kitchen, forced-hot-air heat, and mini-split cooling.
The finished basement adds an open recreational area, two flex rooms, and a full bathroom, with its own private entrance. The property will be delivered fully vacant. Its Jersey City Heights location is approximately 5 miles from NYC and is near shopping, dining, and transportation options for commuting into the city.
The finished basement adds an open recreational area, two flex rooms, and a full bathroom, with its own private entrance. The property will be delivered fully vacant. Its Jersey City Heights location is approximately 5 miles from NYC and is near shopping, dining, and transportation options for commuting into the city.
Key Highlights
- 2,184‑square‑foot duplex with two residential floors and a finished basement
- First floor includes 2 bedrooms, 1 full bathroom, renovated kitchen, and 10‑foot ceilings
- Second floor offers 3 bedrooms, a living room, and an eat‑in kitchen
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
$49,566
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
4.13%
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%
$991,320
$991.3K
Cap Rate 7%
$708,086
$708.1K
Cap Rate 9%
$550,733
$550.7K
Market Conditions
NOI Build-Up for 2,184 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
$74.7K $34.20/SF
− Vacancy
−$3.9K −$1.78/SF
EGI
$70.8K $32.42/SF
− OpEx
−$21.2K −$9.73/SF
NOI
$49.6K $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%
$991,320
Cap Rate 7%
$708,086
Cap Rate 9%
$550,733
Alternative Uses
Best Use
Multifamily LT 5
$708.1K
$619.6K – $826.1K
NOI $49,566 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$635.2K
$555.8K – $741.0K
NOI $44,461 @ 7.0% cap · market cap 3.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,471
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
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 - Vacant two-unit property with updated kitchens, finished lower level, and a private basement entrance.
Where is this duplex located?
The property is located at 203 HANCOCK AVE JC Jersey City, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 2,184‑square‑foot duplex with two residential floors and a finished basement; First floor includes 2 bedrooms, 1 full bathroom, renovated kitchen, and 10‑foot ceilings; Second floor offers 3 bedrooms, a living room, and an eat‑in kitchen
