Brick Duplex with Finished
For Sale
$929,000
Pending
7 Gregg Lane, Bayonne, NJ 07002
Multi-Family, Bayonne, NJ
Property Size2,889 SF
Lot Size0.08 Acres
Days on Market47
Property Features for 7 Gregg Lane
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
2
Rooms
Basement, Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 4, Bathroom 5, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 3, Bathroom 1, Bathroom 2
Basement
Walk-Out Access, Finished
Directions
Between 23rd and 24st St
Standard status
Pending
APN
01-00198-0000-00008
Size
2,889 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14095
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Multi Units
Building Details
Year built
1975
Floors in Building
3
Number of units
2
Listing Agency:
ARC Real Estate
Listed By:
Jeanette Smith · License #36470
(609) 731-4265
Added: Jul 25
Changed: Sep 4
Last Checked: Sep 9 at 2:06AM
MLS# 22622791
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family brick Tudor-style property includes six bedrooms, three full baths, and two half baths across two separately metered units delivered vacant. The first-floor residence features an updated 2025 eat-in kitchen with quartz countertops, new cabinetry, and stainless appliances, along with a dining room, sunken living room, hardwood floors, and two bedrooms with dedicated closet space. The upper unit provides three bedrooms, an eat-in kitchen, separate dining room, living room with park views, and recently updated baths.
A finished basement adds a private bedroom, updated 2025 full bath, laundry room with two washer/dryer sets, and an oversized recreation room. Rough plumbing is installed for a future wet bar. The property also offers central air, forced-air heat, keyless exterior entry, a large fenced backyard, and parking for four cars through a driveway and attached oversized garage. The home sits across from a park, approximately 250 ft from Oresko School, 0.1 mile from Broadway, and 0.2 mile from the Light Rail.
A finished basement adds a private bedroom, updated 2025 full bath, laundry room with two washer/dryer sets, and an oversized recreation room. Rough plumbing is installed for a future wet bar. The property also offers central air, forced-air heat, keyless exterior entry, a large fenced backyard, and parking for four cars through a driveway and attached oversized garage. The home sits across from a park, approximately 250 ft from Oresko School, 0.1 mile from Broadway, and 0.2 mile from the Light Rail.
Key Highlights
- Two‑family brick Tudor‑style property with 6 bedrooms, 3 full baths, and 2 half baths
- Finished basement includes a private bedroom, updated 2025 full bath, laundry, and oversized recreation room
- Parking for 4 cars via 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
Yes
Paved road access
Yes
Utilities to site
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 separately metered residences include parking, private outdoor space, and updated interior features.
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 property with 6 bedrooms, 3 full baths, and 2 half baths; Finished basement includes a private bedroom, updated 2025 full bath, laundry, and oversized recreation room; Parking for 4 cars via a two‑car driveway and attached oversized two‑car garage
