Two-Unit Duplex with Roof
New
For Sale
$1,499,900
220 FREEMAN AVE, Jersey City, NJ 07306
2 Family, Contemporary, Multi-Level, Jersey City, NJ
Property Size3,500 SF
Price / SF$428.54
Days on Market2
Property Features for 220 FREEMAN AVE
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 4, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 5
Directions
Off Duncan Ave
Subdivision
JC, Journal Square
Standard status
Active
Amenities
garage parking
electric vehicle charging
private balcony
roof deck
backyard
in-unit washer/dryer
wet bar
wine fridge
Building Details
Architectural style
Contemporary, Other
Listing Agency:
EXP REALTY LLC
Listed By:
ERIK GOLDFARB
(866) 201-6210
Added: Oct 22
Last Checked: Oct 23 at 6:06AM
MLS# 260021349
Copyright © 2026 Realty MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 2024, this two-residence duplex offers nearly 3,500 square feet of combined interior space. Each home has three bedrooms, an open living and dining area, a kitchen with quartz counters and stainless steel appliances, and an in-unit washer and dryer. Red oak floors and 10-foot ceilings are among the shared interior features. One residence spans two levels and includes three bathrooms; the other has two bathrooms.
Outdoor space includes a fenced backyard of 840 square feet accessed from the lower level of the first residence, plus a 940 square foot roof deck serving the second. Tandem garage parking is available, with electric vehicle charging capability. Each residence also has a private balcony off its primary suite.
Outdoor space includes a fenced backyard of 840 square feet accessed from the lower level of the first residence, plus a 940 square foot roof deck serving the second. Tandem garage parking is available, with electric vehicle charging capability. Each residence also has a private balcony off its primary suite.
Key Highlights
- Two three‑bedroom residences with nearly 3,500 square feet of combined interior living space
- Completed in 2024
- First residence: duplex layout, over 1,800 square feet, and 3 bathrooms
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
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Completed in 2024, the property pairs tandem garage parking with private outdoor areas for both residences.
Where is this duplex located?
The property is located at 220 FREEMAN AVE 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 with nearly 3,500 square feet of combined interior living space; Completed in 2024; First residence: duplex layout, over 1,800 square feet, and 3 bathrooms
