Duplex with Private Outdoor
New
For Sale
$1,499,900
220 FREEMAN AVE JC, Jersey City, NJ 07306
Two three-bedroom residences feature contemporary interiors, individual outdoor areas, and tandem garage parking.
Property Size3,500 SF
Price / SF$428.54
Days on Market6
Property Features for 220 FREEMAN AVE JC
General Information
Standard status
Active
Size
3,500 SF
Property subtype
2 Family
Site & Location
Neighborhood
West Side
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Building Details
Year Built
2024
Buildings
1
Listing Agency:
EXP REALTY LLC
Listed By:
ERIK GOLDFARB · License #1643404
(866) 201-6210
Source:
Serhant
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 26 at 10:52PM
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 EXP REALTY LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2024, this two-family property contains two three-bedroom residences with nearly 3,500 square feet of combined interior space. Both have open living and dining areas, kitchens with quartz counters and stainless steel appliances, and in-unit laundry. The first residence is a duplex with three bathrooms and more than 1,800 square feet, including a finished walk-out lower level with a wet bar and full bathroom. It opens to a fenced 840-square-foot backyard. The second residence has two bathrooms and nearly 1,600 square feet, along with a 940-square-foot roof deck. Each home also includes a primary suite with a private balcony.
Tandem garage parking is available, with electric vehicle charging capability. The property is near Journal Square and Lincoln Park, which offers tennis courts, golf, soccer fields, and track facilities. Transportation, dining, and shopping are also cited among the nearby amenities.
Tandem garage parking is available, with electric vehicle charging capability. The property is near Journal Square and Lincoln Park, which offers tennis courts, golf, soccer fields, and track facilities. Transportation, dining, and shopping are also cited among the nearby amenities.
Key Highlights
- Two three‑bedroom residences in a 2024‑built property, with nearly 3,500 square feet combined
- Duplex residence has 3 bedrooms, 3 bathrooms, and more than 1,800 square feet
- Second residence includes 3 bedrooms, 2 bathrooms, and nearly 1,600 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,433
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,588,660
$1.6M
Cap Rate 7%
$1,134,757
$1.1M
Cap Rate 9%
$882,589
$882.6K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$119.7K $34.20/SF
− Vacancy
−$6.2K −$1.78/SF
EGI
$113.5K $32.42/SF
− OpEx
−$34.0K −$9.73/SF
NOI
$79.4K $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 Rate 5%
$1,588,660
Cap Rate 7%
$1,134,757
Cap Rate 9%
$882,589
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$992.9K – $1.32M
NOI $79,433 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$1.02M
$890.6K – $1.19M
NOI $71,251 @ 7.0% cap · market cap 4.75%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,518
Businesses Nearby
Explore this area
Business Placement
Demographics for 07306, NJ
55,342
Population
24,770
Households
2.2
Avg Household Size
34
Median Age
50%
College-Educated
87%
High-School Grad
3.0 sq mi
ZIP Area
18,447
Density / Sq Mi
$75,861
Median Household Income
$49,522
Median Earnings
$1,619
Median Rent
$502,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences feature contemporary interiors, individual outdoor areas, and tandem garage parking.
Where is this duplex located?
The property is located at 220 FREEMAN AVE JC Jersey City, NJ.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Two three‑bedroom residences in a 2024‑built property, with nearly 3,500 square feet combined; Duplex residence has 3 bedrooms, 3 bathrooms, and more than 1,800 square feet; Second residence includes 3 bedrooms, 2 bathrooms, and nearly 1,600 square feet
