Three-Bedroom Duplex Residential
New
For Sale
$1,185,000
51 Prospect St Unit 1, Jersey City, NJ 07307
A lower-level family room opens to a backyard with fire pit and utility connections.
Property Size1,980 SF
Price / SF$598.48
Days on Market3
Property Features for 51 Prospect St Unit 1
General Information
Standard status
Active
Size
1,980 SF
Total Parking Spaces
3
Property subtype
Commercial
Additional Details
Public Transit
Yes
Sprinkler System
Yes
Multifamily Units
1
Amenities
modern kitchen with quartz countertops
waterfall island
Samsung black stainless steel appliances
wine fridge
luxurious bathroom
walk-in closets
family room with wet bar and half bath
backyard retreat
fire pit
gas, electric, and water connections
crown moldings
abundant storage space
central vacuum system
elegant aluminum railings
commercial-grade waterproof garage flooring
Listing Agency:
Century 21 Preferred Realty, Hoboken
(201) 857-8777
Listed By:
Francis DeBari () · License #1751103
(551) 655-7739
Source:
Fortuneluxuryrealty
Added: Oct 19
Last Checked: Oct 20 at 8:00PM
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 Century 21 Preferred Realty, Hoboken
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Investment Insights
Based on property information with market context.
This duplex residential property offers approximately 1,980 square feet, including three bedrooms, two full bathrooms, and a lower-level family room with a wet bar and half bath. The kitchen has quartz countertops, a waterfall island, Samsung black stainless steel appliances, and a wine fridge. The primary suite includes a private bathroom and walk-in closets. Additional features include crown molding, central vacuum, a home sprinkler system, and storage space. The backyard has a fire pit with gas, electric, and water connections.
Parking consists of deeded indoor garage space for two cars and one outdoor driveway space. The property is near bus and rail service to New York City, as well as shopping, restaurants, parks, and schools.
Parking consists of deeded indoor garage space for two cars and one outdoor driveway space. The property is near bus and rail service to New York City, as well as shopping, restaurants, parks, and schools.
Key Highlights
- Approximately 1,980 square feet with three bedrooms
- Deeded indoor garage parking for two cars, plus one outdoor driveway space
- Kitchen includes quartz counters, waterfall island, Samsung black stainless steel appliances, and wine fridge
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,308
Cap Rate
3.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,160
$806.2K
Cap Rate 7%
$575,829
$575.8K
Cap Rate 9%
$447,867
$447.9K
Market Conditions
NOI Build-Up for 1,980 SF
Gross rent
$77.0K $38.88/SF
− Vacancy
−$3.7K −$1.87/SF
EGI
$73.3K $37.01/SF
− OpEx
−$33.0K −$16.66/SF
NOI
$40.3K $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%
$806,160
Cap Rate 7%
$575,829
Cap Rate 9%
$447,867
Alternative Uses
Best Use
Apartment 5plus
$575.8K
$503.9K – $671.8K
NOI $40,308 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$641.9K
$561.7K – $748.9K
NOI $44,936 @ 7.0% cap · market cap 3.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
1
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
3,789
Businesses Nearby
Explore this area
Business Placement
Demographics for 07307, NJ
44,247
Population
18,762
Households
2.4
Avg Household Size
35
Median Age
46%
College-Educated
87%
High-School Grad
1.9 sq mi
ZIP Area
23,288
Density / Sq Mi
$80,745
Median Household Income
$52,729
Median Earnings
$1,708
Median Rent
$574,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Residential income property - A lower-level family room opens to a backyard with fire pit and utility connections.
Where is this residential income property located?
The property is located at 51 Prospect St Unit 1 Jersey City, NJ.
What is the asking price?
The asking price for this property is $1,185,000.
What are key features of this property?
This property features: Approximately 1,980 square feet with three bedrooms; Deeded indoor garage parking for two cars, plus one outdoor driveway space; Kitchen includes quartz counters, waterfall island, Samsung black stainless steel appliances, and wine fridge
