Two-Unit
For Sale
$599,000
322 E Jersey St, Elizabeth, NJ 07206
The first-floor residence is vacant, while the upper unit is tenant occupied.
Property Size2,079 SF
Price / SF$288.12
Days on Market128
Property Features for 322 E Jersey St
General Information
Standard status
Active
Size
2,079 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Tenant in Place
Yes
Building Details
Building Size
2,079 SF
Year Built
1909
Units
2
Listing Agency:
Nj Elite Group LLC
Listed By:
Jasmin Elalfy · License #1863633
(732) 523-0757
Source:
Culturaunitedrealty
Added: Jun 18
Changed: Oct 23
Last Checked: Oct 23 at 4:18PM
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 Nj Elite Group LLC
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Investment Insights
Based on property information with market context.
This 2,079-square-foot duplex in Elizabeth dates to 1909. Its first-floor apartment is vacant, and the upper apartment has a tenant in place.
The property is on E Jersey Street, near transportation, shopping, schools, restaurants, and other local amenities.
The property is on E Jersey Street, near transportation, shopping, schools, restaurants, and other local amenities.
Key Highlights
- 2,079‑square‑foot duplex built in 1909
- Vacant first‑floor apartment
- Tenant‑occupied upper apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,607
Cap Rate
6.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$792,140
$792.1K
Cap Rate 7%
$565,814
$565.8K
Cap Rate 9%
$440,078
$440.1K
Market Conditions
NOI Build-Up for 2,079 SF
Gross rent
$59.9K $28.80/SF
− Vacancy
−$3.3K −$1.58/SF
EGI
$56.6K $27.22/SF
− OpEx
−$17.0K −$8.16/SF
NOI
$39.6K $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%
$792,140
Cap Rate 7%
$565,814
Cap Rate 9%
$440,078
Alternative Uses
Best Use
Multifamily LT 5
$565.8K
$495.1K – $660.1K
NOI $39,607 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$503.8K
$440.9K – $587.8K
NOI $35,269 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$770.1K
$673.8K – $898.4K
NOI $53,904 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 07206, NJ
30,982
Population
9,712
Households
3.2
Avg Household Size
31
Median Age
8%
College-Educated
64%
High-School Grad
1.8 sq mi
ZIP Area
17,212
Density / Sq Mi
$60,992
Median Household Income
$38,541
Median Earnings
$1,543
Median Rent
$339,200
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 - The first-floor residence is vacant, while the upper unit is tenant occupied.
Where is this duplex located?
The property is located at 322 E Jersey St Elizabeth, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,079‑square‑foot duplex built in 1909; Vacant first‑floor apartment; Tenant‑occupied upper apartment
