Two-Family Duplex with
For Sale
$650,000
514 Marshall Street Unit 3, Elizabethport, NJ 07206
Each main unit has three bedrooms and one full bathroom, with additional basement and third-floor space.
Property Size1,000 SF
Price / SF$650
Days on Market237
Property Features for 514 Marshall Street Unit 3
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Multi Family / 2-Two Story
Taxes and HOA fees
Annual Taxes
$9,054
Amenities
Yes
No
Asphalt Shingle
Full
Vinyl Siding
Building Details
Year Built
1890
Listing Agency:
RE/MAX CENTRAL
(732) 972-1000
Listed By:
MICHAEL SCLAFANI · License #306368
(732) 972-1000
Source:
Compass
Added: Jan 6
Changed: Aug 29
Last Checked: Aug 29 at 4:04PM
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 duplex contains two three-bedroom units, each with one full bathroom. The property also includes a full basement that can provide additional living or storage space, along with a bonus apartment on the third floor. Vinyl siding and an asphalt shingle roof contribute to the building’s exterior improvements, while the structure dates to 1890.
Located at 514 Marshall Street, Unit 3, in Elizabeth Port, NJ 07206, the property offers off-street parking and proximity to major highways, public transportation, shopping, and local amenities. The combination of two primary units, basement space, and a third-floor apartment creates a flexible residential configuration within a single multifamily property.
Located at 514 Marshall Street, Unit 3, in Elizabeth Port, NJ 07206, the property offers off-street parking and proximity to major highways, public transportation, shopping, and local amenities. The combination of two primary units, basement space, and a third-floor apartment creates a flexible residential configuration within a single multifamily property.
Key Highlights
- Two‑family duplex with two three‑bedroom units
- Each main unit includes one full bathroom
- Full basement offers additional living or storage space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,051
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$381,020
$381.0K
Cap Rate 7%
$272,157
$272.2K
Cap Rate 9%
$211,678
$211.7K
Market Conditions
NOI Build-Up for 1,000 SF
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.
Gross rent
$28.8K $28.80/SF
− Vacancy
−$1.6K −$1.58/SF
EGI
$27.2K $27.22/SF
− OpEx
−$8.2K −$8.16/SF
NOI
$19.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$381,020
Cap Rate 7%
$272,157
Cap Rate 9%
$211,678
Alternative Uses
Best Use
Multifamily LT 5
$272.2K
$238.1K – $317.5K
NOI $19,051 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$242.4K
$212.1K – $282.8K
NOI $16,965 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$370.4K
$324.1K – $432.1K
NOI $25,928 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,725
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each main unit has three bedrooms and one full bathroom, with additional basement and third-floor space.
Where is this duplex located?
The property is located at 514 Marshall Street Unit 3 Elizabethport, 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: Two‑family duplex with two three‑bedroom units; Each main unit includes one full bathroom; Full basement offers additional living or storage space
