Two-Unit Duplex with Fenced
For Sale
$750,000
66 Ray St, Elmwood Park, NJ 07407
Two separate residences feature hardwood floors, eat-in kitchens, and a partially finished basement.
Property Size1,680 SF
Lot Size0.14 Acres
Price / SF$446.43
Days on Market8
Property Features for 66 Ray St
General Information
Standard status
Active
Size
1,680 SF
Lot size
0.14 Acres
Property subtype
Residential Income
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,087
Amenities
partially finished basement
large fenced backyard
off-street parking
Building Details
Buildings
1
Listing Agency:
Aldo's Realty
(201) 796-9300
Listed By:
Justin Marchese
(551) 404-1022
Source:
Exprealty
Added: Aug 27
Changed: Sep 3
Last Checked: Sep 3 at 2:34AM
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 Aldo's Realty
Investment Insights
Based on property information with market context.
This two-family duplex contains 1,680 sq. ft. with two distinct living units, each configured with 2 bedrooms and 1 full bath. Interior features include hardwood flooring, eat-in kitchens, comfortable living areas, and front and rear dormers that expand the upper-level layout. A partially finished basement adds usable flexibility.
The property occupies a 6, 000 sq. ft. lot on a dead-end street in Elmwood Park, NJ. A fenced backyard provides private outdoor space, while the long driveway supplies off-street parking. Newer roofing, siding, and windows are among the notable improvements. The address is near parks, shopping, and NYC transportation.
The property occupies a 6, 000 sq. ft. lot on a dead-end street in Elmwood Park, NJ. A fenced backyard provides private outdoor space, while the long driveway supplies off-street parking. Newer roofing, siding, and windows are among the notable improvements. The address is near parks, shopping, and NYC transportation.
Key Highlights
- Two‑unit duplex with 1,680 sq. ft. of living space
- Each unit includes 2 bedrooms and 1 full bath
- Set on a 6, 000 sq. ft. lot along a dead‑end street
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
$28,117
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
3.75%
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%
$562,340
$562.3K
Cap Rate 7%
$401,671
$401.7K
Cap Rate 9%
$312,411
$312.4K
Market Conditions
NOI Build-Up for 1,680 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
$42.9K $25.56/SF
− Vacancy
−$2.8K −$1.65/SF
EGI
$40.2K $23.91/SF
− OpEx
−$12.1K −$7.17/SF
NOI
$28.1K $16.74/SF
Area
Bergen County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$562,340
Cap Rate 7%
$401,671
Cap Rate 9%
$312,411
Alternative Uses
Best Use
Multifamily LT 5
$401.7K
$351.5K – $468.6K
NOI $28,117 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$369.1K
$322.9K – $430.6K
NOI $25,835 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$438.7K
$383.9K – $511.8K
NOI $30,708 @ 7.0% cap · market cap 4.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 07407, NJ
21,422
Population
7,561
Households
2.8
Avg Household Size
41
Median Age
36%
College-Educated
91%
High-School Grad
2.6 sq mi
ZIP Area
8,239
Density / Sq Mi
$100,852
Median Household Income
$51,764
Median Earnings
$2,025
Median Rent
$456,000
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 - Two separate residences feature hardwood floors, eat-in kitchens, and a partially finished basement.
Where is this duplex located?
The property is located at 66 Ray St Elmwood Park, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,680 sq. ft. of living space; Each unit includes 2 bedrooms and 1 full bath; Set on a 6, 000 sq. ft. lot along a dead‑end street
