Updated Triplex with Two-Car
For Sale
$829,900
31 Bank St, Elizabeth, NJ 07201
Three-family Colonial with separate utilities and access to public transportation.
Property Size3,716 SF
Price / SF$223.33
Days on Market56
Property Features for 31 Bank St
General Information
Standard status
Active
Size
3,716 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1966
Construction
Colonial
Listing Agency:
BHGRE ELITE
Listed By:
MARIA SCHMIDT
(908) 316-8530
Source:
Goldstandardrealty
Added: Aug 20
Changed: Oct 11
Last Checked: Oct 7 at 5:48PM
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 BHGRE ELITE
Investment Insights
Based on property information with market context.
Located at 31 Bank St in Elizabeth, this three-family Colonial was built in 1966 and offers 3,716 square feet of residential space. The property includes 9 bedrooms, 3 full bathrooms, separate utilities, and a built-in 2-car garage. Each residence has spacious living areas, and the building has been updated.
The property is situated in the Trinitas Hospital section of Elizabeth, with schools, shopping, parks, major highways, and public transportation nearby. Its three-unit layout, separate utility arrangement, and established residential configuration support a range of ownership strategies within the multifamily category.
The property is situated in the Trinitas Hospital section of Elizabeth, with schools, shopping, parks, major highways, and public transportation nearby. Its three-unit layout, separate utility arrangement, and established residential configuration support a range of ownership strategies within the multifamily category.
Key Highlights
- 3,716‑square‑foot triplex with 9 total bedrooms and 3 full bathrooms
- Built in 1966; updated three‑family Colonial
- Separate utilities for the three residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,794
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,415,880
$1.4M
Cap Rate 7%
$1,011,343
$1.0M
Cap Rate 9%
$786,600
$786.6K
Market Conditions
NOI Build-Up for 3,716 SF
Gross rent
$107.0K $28.80/SF
− Vacancy
−$5.9K −$1.58/SF
EGI
$101.1K $27.22/SF
− OpEx
−$30.3K −$8.16/SF
NOI
$70.8K $19.05/SF
Area
Elizabeth, NJ
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,415,880
Cap Rate 7%
$1,011,343
Cap Rate 9%
$786,600
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$884.9K – $1.18M
NOI $70,794 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$900.6K
$788.0K – $1.05M
NOI $63,041 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$1.38M
$1.20M – $1.61M
NOI $96,347 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,953
Businesses Nearby
Explore this area
Business Placement
Demographics for 07201, NJ
29,390
Population
10,404
Households
2.8
Avg Household Size
35
Median Age
15%
College-Educated
75%
High-School Grad
6.4 sq mi
ZIP Area
4,592
Density / Sq Mi
$62,026
Median Household Income
$33,092
Median Earnings
$1,476
Median Rent
$413,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-family Colonial with separate utilities and access to public transportation.
Where is this triplex located?
The property is located at 31 Bank St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $829,900.
What are key features of this property?
This property features: 3,716‑square‑foot triplex with 9 total bedrooms and 3 full bathrooms; Built in 1966; updated three‑family Colonial; Separate utilities for the three residences
