Two-Family Residential Income
514 Marshall Street Elizabeth, NJ 07206
For Sale
$650,000
Large two-family property with 3-bedroom, 1-bath units, plus a full basement and a third-floor bonus apartment.
Property Size2,832 SF
Price / SF$229.52
Days on Market217
Property Features for 514 Marshall Street
General Information
- Standard status
- Active
- Size
- 2,832 SF
- Property subtype
- Multi Family / 2-Two Story
Building Details
- Year Built
- 1890
Listing Agency:
RE/MAX Central
(732) 972-1000
Listed By:
Michael Sclafani · License #0901283
(732) 972-1000
Source:
Compass
Added: Dec 19, 2025
Changed: Jul 23
Last Checked: Jul 23 at 1:28PM
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 large two-family residential income property features two separate units, each offering three bedrooms and one full bathroom. In addition to the main living areas, the property includes a full basement that provides extra space for living or storage, as well as a third-floor bonus apartment.
The home also offers ample off-street parking for residents and guests. It is conveniently located near major highways, public transportation, shopping, and local amenities.
Overall, the layout combines multiple living spaces within one property, including the basement and third-floor bonus apartment, creating additional flexibility for occupancy and day-to-day use.
The home also offers ample off-street parking for residents and guests. It is conveniently located near major highways, public transportation, shopping, and local amenities.
Overall, the layout combines multiple living spaces within one property, including the basement and third-floor bonus apartment, creating additional flexibility for occupancy and day-to-day use.
Key Highlights
- Large 2‑family home with 3‑bedroom, 1‑bath units
- 3 levels plus a full basement for additional living or storage space
- Includes a 3rd‑floor bonus apartment for added flexibility
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 | $81.6k | $28.80 |
| − Vacancy | −$4.5k | −$1.58 |
| EGI | $77.1k | $27.22 |
| − OpEx | −$23.1k | −$8.16 |
| NOI | $54.0k | $19.05 |
2,832 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$770.8K
$674.4K – $899.2K
NOI $53,953 @ 7.0% cap · market cap 8.30%
Second Best
Apartment 5plus
$686.3K
$600.6K – $800.7K
NOI $48,044 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$1.05M
$917.8K – $1.22M
NOI $73,427 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Large two-family property with 3-bedroom, 1-bath units, plus a full basement and a third-floor bonus apartment.
Where is this duplex located?
The property is located at 514 Marshall Street Elizabeth, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Large 2‑family home with 3‑bedroom, 1‑bath units; 3 levels plus a full basement for additional living or storage space; Includes a 3rd‑floor bonus apartment for added flexibility
