Brick Tudor Duplex With Four-Car
For Sale
$929,000
7 Gregg Lane, Bayonne, NJ 07002
Two vacant, separately metered residences include updated kitchens, private outdoor space, and attached garage parking.
Property Size2,889 SF
Price / SF$321.56
Days on Market34
Property Features for 7 Gregg Lane
General Information
Standard status
Active
Size
2,889 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
hardwood floors
central air
keyless entry
laundry room
fenced backyard
Building Details
Year Built
1975
Buildings
1
Construction
brick Tudor-style
Listing Agency:
ARC Real Estate
(609) 731-4265
Listed By:
Jeanette Smith · License #36470
Source:
Flagshippropertiesgroup
Added: Jul 27
Changed: Aug 28
Last Checked: Aug 28 at 2:31PM
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 ARC Real Estate
Investment Insights
Based on property information with market context.
This two-family brick Tudor-style residence contains six bedrooms, three full bathrooms, and two half bathrooms across two separate units. The first-floor apartment includes two bedrooms, an updated eat-in kitchen with quartz counters and stainless appliances, a dining room, and a sunken living room with 9-foot ceilings. The upper unit offers three bedrooms, an eat-in kitchen, dining room, living room, and park views. Hardwood flooring, central air, forced-hot-air heat, abundant closets, and keyless exterior entry serve both residences.
A finished basement adds a private bedroom, updated full bathroom, laundry room with two washer/dryer sets, and an oversized recreation room. Rough plumbing is installed for a future wet bar. The property also includes a 2025 roof, a fenced backyard, a two-car driveway, and an attached oversized two-car garage with utility sink. Both units are vacant and separately metered.
The home sits across from a park, within a 250-foot walk of Oresko School, 0.1 mile from Broadway, and 0.2 mile from the Light Rail. The property is located at 7 Gregg Lane in Bayonne, New Jersey.
A finished basement adds a private bedroom, updated full bathroom, laundry room with two washer/dryer sets, and an oversized recreation room. Rough plumbing is installed for a future wet bar. The property also includes a 2025 roof, a fenced backyard, a two-car driveway, and an attached oversized two-car garage with utility sink. Both units are vacant and separately metered.
The home sits across from a park, within a 250-foot walk of Oresko School, 0.1 mile from Broadway, and 0.2 mile from the Light Rail. The property is located at 7 Gregg Lane in Bayonne, New Jersey.
Key Highlights
- Two‑family brick Tudor‑style home with 6 bedrooms, 3 full baths, and 2 half baths
- 2025 roof and finished basement with bedroom, full bath, laundry, and recreation room
- Four‑car parking includes a two‑car driveway and attached oversized two‑car garage
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
$48,351
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
5.20%
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%
$967,020
$967.0K
Cap Rate 7%
$690,729
$690.7K
Cap Rate 9%
$537,233
$537.2K
Market Conditions
NOI Build-Up for 2,889 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
$73.8K $25.56/SF
− Vacancy
−$4.8K −$1.65/SF
EGI
$69.1K $23.91/SF
− OpEx
−$20.7K −$7.17/SF
NOI
$48.4K $16.74/SF
Area
Hudson 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%
$967,020
Cap Rate 7%
$690,729
Cap Rate 9%
$537,233
Alternative Uses
Best Use
Multifamily LT 5
$690.7K
$604.4K – $805.9K
NOI $48,351 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$634.7K
$555.3K – $740.5K
NOI $44,427 @ 7.0% cap · market cap 4.78%
Theoretical Best
Warehouse
$1.05M
$915.4K – $1.22M
NOI $73,230 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,459
Businesses Nearby
Explore this area
Business Placement
Demographics for 07002, NJ
71,686
Population
30,161
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
12,360
Density / Sq Mi
$81,285
Median Household Income
$51,157
Median Earnings
$1,593
Median Rent
$446,100
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 vacant, separately metered residences include updated kitchens, private outdoor space, and attached garage parking.
Where is this duplex located?
The property is located at 7 Gregg Lane Bayonne, NJ.
What is the asking price?
The asking price for this property is $929,000.
What are key features of this property?
This property features: Two‑family brick Tudor‑style home with 6 bedrooms, 3 full baths, and 2 half baths; 2025 roof and finished basement with bedroom, full bath, laundry, and recreation room; Four‑car parking includes a two‑car driveway and attached oversized two‑car garage
