Duplex with Finished Walk-Out
311 Union St, Jersey City, NJ 07304
For Sale
$799,999
Updated two-family residence with a finished lower level, backyard, and front parking.
Property Size3,498 SF
Price / SF$228.70
Days on Market20
Property Features for 311 Union St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Building Details
Buildings
Construction
Listing Agency:
REMAX SIGNATURE HOMES
Listed By:
MILANKA LIPPMAN · License NJ #1969510
(201) 660-9933
Source:
Exprealty
Added: Oct 26
Changed: Nov 14
Last Checked: Nov 14 at 7:12AM
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 REMAX SIGNATURE HOMES
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Investment Insights
Based on property information with market context.
This updated two-family Colonial contains 3,498 square feet with 8 bedrooms and 3 bathrooms. A finished walk-out basement expands the interior layout, while the backyard and two front parking spaces provide additional property features.
The Jersey City property is near schools, parks, and shopping.
The Jersey City property is near schools, parks, and shopping.
Key Highlights
- Two‑family Colonial with 8 bedrooms and 3 bathrooms
- 3,498 square feet
- Finished walk‑out basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,211
Cap Rate
8.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,424,220
$1.4M
Cap Rate 7%
$1,017,300
$1.0M
Cap Rate 9%
$791,233
$791.2K
Market Conditions
NOI Build-Up for 3,498 SF
Gross rent
$136.0K $38.88/SF
− Vacancy
−$6.5K −$1.87/SF
EGI
$129.5K $37.01/SF
− OpEx
−$58.3K −$16.66/SF
NOI
$71.2K $20.36/SF
Area
Jersey City, NJ
Vacancy
4.80%
Lease Rate
$38.88 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,424,220
Cap Rate 7%
$1,017,300
Cap Rate 9%
$791,233
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$992.4K – $1.32M
NOI $79,388 @ 7.0% cap · market cap 9.92%
Second Best
Apartment 5plus
$1.02M
$890.1K – $1.19M
NOI $71,211 @ 7.0% cap · market cap 8.90%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,190
Businesses Nearby
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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
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Market
Properties on Market for Duplexes in Jersey City
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-family residence with a finished lower level, backyard, and front parking.
Where is this duplex located?
The property is located at 311 Union St Jersey City, NJ.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Two‑family Colonial with 8 bedrooms and 3 bathrooms; 3,498 square feet; Finished walk‑out basement
