Two-Family Property Investment
322 South 7th Street Elizabeth, NJ 07202
322 South 7th Street, Elizabeth, NJ, 07202
$519,000
For Sale
$519,000
Two-unit property near transportation, shopping, and amenities.
Property Size1,200 SF
Price / SF$432.50
Days on Market52
Property Features for 322 South 7th Street
General Information
- Standard status
- Active
- Size
- 1,200 SF
- Property subtype
- Multi Family / 2-Two Story
Building Details
- Year Built
- 1910
Listing Agency
RE/MAX CENTRAL
(732) 972-1000
Listed by
MICHAEL SCLAFANI · License #306368
(732) 972-1000
Source
Compass
Added: May 27 Checked: Jul 17 at 4:26 am
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 RE/MAX CENTRAL
Investment Insights
Based on property information with market context.
This two-family property presents an investment opportunity with income potential. Each unit includes 2 bedrooms and 1 full bathroom. The property is located near major highways, public transportation, shopping, and local amenities. The property size is 1200 square feet.
Key Highlights
- High income potential as a cash‑producing two‑family property.
- Each unit features two spacious bedrooms and one full bathroom.
- Convenient location near major highways and public transportation.
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 | $34.6k | $28.80 |
| − Vacancy | −$1.9k | −$1.58 |
| EGI | $32.7k | $27.22 |
| − OpEx | −$9.8k | −$8.16 |
| NOI | $22.9k | $19.05 |
1,200 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$326.6K
$285.8K – $381.0K
NOI $22,861 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$290.8K
$254.5K – $339.3K
NOI $20,358 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$444.5K
$388.9K – $518.6K
NOI $31,113 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit property near transportation, shopping, and amenities.
Where is this duplex located?
The property is located at 322 South 7th Street Elizabeth, NJ.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: High income potential as a cash‑producing two‑family property.; Each unit features two spacious bedrooms and one full bathroom.; Convenient location near major highways and public transportation.
