Two-Family Value-Add
For Sale
$375,000
Pending
557 Magnolia Ave, Elizabeth, NJ 07206
Two separate units in an Elizabeth, NJ duplex needing repairs and updating throughout.
Property SizeContact for details
Days on Market51
Property Features for 557 Magnolia Ave
General Information
Standard status
Pending
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,243
Building Details
Year Built
1923
Units
2
Listing Agency:
Listed By:
HARRIS M. SANDLER
Source:
Elliman
Added: Jul 2
Changed: Aug 13
Last Checked: Aug 21 at 11:34AM
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 HARRIS M. SANDLER
Investment Insights
Based on property information with market context.
This two-family home offers two separate units and provides a value-add renovation opportunity. The property is described as requiring repairs and updating throughout, making it well-suited for buyers looking to renovate for rental income or owner-occupancy after improvements are completed.
The home is positioned for convenience to major transportation routes, shopping, schools, parks, and other local amenities.
Prospective buyers should note that the buyer is responsible for obtaining a Certificate of Occupancy and Fire Certificate, along with any inspections required to close. The property is eligible for FHA 203K financing and the $100 Down program, and bids are subject to an exclusive 5-day bidding period with HUD-approved brokers and registered agents eligible to submit. During that period, only owner occupants are eligible to submit bids.
The home is positioned for convenience to major transportation routes, shopping, schools, parks, and other local amenities.
Prospective buyers should note that the buyer is responsible for obtaining a Certificate of Occupancy and Fire Certificate, along with any inspections required to close. The property is eligible for FHA 203K financing and the $100 Down program, and bids are subject to an exclusive 5-day bidding period with HUD-approved brokers and registered agents eligible to submit. During that period, only owner occupants are eligible to submit bids.
Key Highlights
- Duplex in Elizabeth, NJ with 2 separate units
- Year built: 1923
- Value‑add project requiring repairs and updating throughout
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,314
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate units in an Elizabeth, NJ duplex needing repairs and updating throughout.
Where is this duplex located?
The property is located at 557 Magnolia Ave Elizabeth, NJ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Duplex in Elizabeth, NJ with 2 separate units; Year built: 1923; Value‑add project requiring repairs and updating throughout
