Two-Family Residential Income
31 Lexington Avenue Jersey City, NJ 07304
31 Lexington Avenue, Jersey City, NJ, 07304
$675,000
For Sale
$675,000
Two separate units include 2-bedroom first floor and 4-bedroom second-floor duplex with finished attic.
Property Size2,500 SF
Price / SF$270
Days on Market33
Property Features for 31 Lexington Avenue
General Information
- Standard status
- Active
- Size
- 2,500 SF
- Property subtype
- 2 FAMILY / 2 Family
Building Details
- Year Built
- 1925
Listing agency
Realmart Realty, LLC
(732) 727-2280
Listed by
Qizhan Jack Yao · License #0902217
(732) 727-2280
Source
Compass
Added: Jun 20 Updated: Jul 21 at 5:28AM Checked: Jul 21 at 5:28AM
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 Realmart Realty, LLC
Investment Insights
Based on property information with market context.
This two-family residential income property offers two separate units with distinct living layouts. The first-floor unit features a 2-bedroom configuration with bright, sun-filled rooms. The second-floor unit is a duplex with an added finished attic, creating a larger 4-bedroom residence.
The home includes separate utilities, a full basement with ample storage, and a private backyard. It is described as being conveniently located near schools, parks, shopping, restaurants, and public transportation, with easy access to NYC.
Overall, the property is designed to support either an owner-occupant setup or a rental-focused approach, with practical space and separation between the two units.
The home includes separate utilities, a full basement with ample storage, and a private backyard. It is described as being conveniently located near schools, parks, shopping, restaurants, and public transportation, with easy access to NYC.
Overall, the property is designed to support either an owner-occupant setup or a rental-focused approach, with practical space and separation between the two units.
Key Highlights
- Two‑family home built in 1925 with 2 full baths and 5 total bedrooms across two units
- First‑floor unit: 2 bedrooms, 1 full bath, 1 kitchen, and 1 living room
- Second‑floor unit: duplex with 4 bedrooms, 1 full bath, 1 kitchen, and finished attic included
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $85.5k | $34.20 |
| − Vacancy | −$4.4k | −$1.78 |
| EGI | $81.1k | $32.42 |
| − OpEx | −$24.3k | −$9.73 |
| NOI | $56.7k | $22.70 |
2,500 SF · lease $34.20/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$810.5K
$709.2K – $945.6K
NOI $56,738 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$727.1K
$636.2K – $848.2K
NOI $50,894 @ 7.0% cap · market cap 7.54%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separate units include 2-bedroom first floor and 4-bedroom second-floor duplex with finished attic.
Where is this duplex located?
The property is located at 31 Lexington Avenue Jersey City, NJ.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two‑family home built in 1925 with 2 full baths and 5 total bedrooms across two units; First‑floor unit: 2 bedrooms, 1 full bath, 1 kitchen, and 1 living room; Second‑floor unit: duplex with 4 bedrooms, 1 full bath, 1 kitchen, and finished attic included
