Newly Built Two-Family
For Sale
$1,200,000
Pending
31 Clinton Ave, Jersey City, NJ 07304
Two residences feature private outdoor areas, refined finishes, and a 10-year builder warranty.
Property Size3,000 SF
Days on Market118
Property Features for 31 Clinton Ave
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Asking Price
$1,200,000
Building Details
Buildings
1
Listing Agency:
PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY
(201) 333-7717
Listed By:
NADER REZAI
(201) 333-7717
Source:
Exprealty
Added: Apr 15
Changed: Aug 5
Last Checked: Aug 9 at 11:19AM
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 PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
Located at 31 Clinton Avenue in Jersey City’s Bergen Hill, this newly constructed duplex contains two separately configured residences totaling approximately 3,000 sq ft of interior living space and over 1,500 sq ft of private outdoor space. The garden-level home spans two floors with 3 bedrooms, 2 baths, approximately 1,400 sq ft, and a 500 sq ft backyard. The upper residence provides 3 bedrooms, 2 baths, approximately 1,600 sq ft, and a 1,000 sq ft private rooftop terrace.
Both homes share a consistent finish package, including 10-foot ceilings, custom 8-foot doors, Andersen windows, sliding glass doors, and 4-inch wide-plank white oak flooring. Kitchens include GE stainless steel appliances, custom cabinetry, Calacatta quartz counters, and full-height backsplashes. Porcelanosa tile and matte brass fixtures finish the bathrooms. A 10-year builder warranty is included, and the developer will file for a Jersey City tax abatement subject to approval.
Both homes share a consistent finish package, including 10-foot ceilings, custom 8-foot doors, Andersen windows, sliding glass doors, and 4-inch wide-plank white oak flooring. Kitchens include GE stainless steel appliances, custom cabinetry, Calacatta quartz counters, and full-height backsplashes. Porcelanosa tile and matte brass fixtures finish the bathrooms. A 10-year builder warranty is included, and the developer will file for a Jersey City tax abatement subject to approval.
Key Highlights
- Two‑family property with approximately 3,000 sq ft of interior living space
- Over 1,500 sq ft of private outdoor space across the two residences
- Garden‑level duplex: 3 Bed / 2 Bath, ~1,400 sq ft, and 500 sq ft backyard
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
$68,085
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
5.67%
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%
$1,361,700
$1.4M
Cap Rate 7%
$972,643
$972.6K
Cap Rate 9%
$756,500
$756.5K
Market Conditions
NOI Build-Up for 3,000 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
$102.6K $34.20/SF
− Vacancy
−$5.3K −$1.78/SF
EGI
$97.3K $32.42/SF
− OpEx
−$29.2K −$9.73/SF
NOI
$68.1K $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%
$1,361,700
Cap Rate 7%
$972,643
Cap Rate 9%
$756,500
Alternative Uses
Best Use
Multifamily LT 5
$972.6K
$851.1K – $1.13M
NOI $68,085 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$872.5K
$763.4K – $1.02M
NOI $61,073 @ 7.0% cap · market cap 5.09%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,860
Businesses Nearby
Explore this area
Business Placement
Demographics for 07304, NJ
48,681
Population
21,211
Households
2.3
Avg Household Size
35
Median Age
40%
College-Educated
90%
High-School Grad
2.1 sq mi
ZIP Area
23,181
Density / Sq Mi
$68,432
Median Household Income
$47,673
Median Earnings
$1,572
Median Rent
$489,400
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 - Two residences feature private outdoor areas, refined finishes, and a 10-year builder warranty.
Where is this duplex located?
The property is located at 31 Clinton Ave 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: Two‑family property with approximately 3,000 sq ft of interior living space; Over 1,500 sq ft of private outdoor space across the two residences; Garden‑level duplex: 3 Bed / 2 Bath, ~1,400 sq ft, and 500 sq ft backyard
