Renovated Duplex Income
For Sale
$529,000
738 Edgar Rd, Elizabeth, NJ 07202
Renovated two-unit duplex with two 2-bedroom apartments, full basement storage, and a private backyard.
Property Size1,736 SF
Price / SF$304.72
Days on Market107
Property Features for 738 Edgar Rd
General Information
Standard status
Active
Size
1,736 SF
Property subtype
Multi-Family
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
EXP REALTY, LLC
Listed By:
PETER BOUTROS · License #300361
(866) 201-6210
Source:
Goldstandardrealty
Added: Jun 23
Changed: Sep 5
Last Checked: Oct 5 at 8:28PM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This recently renovated duplex offers two spacious units, each configured with 2 bedrooms and 1 full bath. The property includes a full basement that provides additional storage and potential for future expansion. A private backyard adds outdoor space that can support everyday use.
The home is positioned for convenience, with access to major highways and public transportation. It is also located near shopping, dining, and schools, along with other everyday amenities.
The layout supports flexible occupancy options for an owner-occupant or an investor. One side can be used as a residence while the other unit can provide rental income, or both units can be leased depending on the operator’s goals. This combination of updated interiors, two separate residential units, and usable basement and yard space makes the property well-suited for tenants seeking comfortable 2-bedroom living or buyers looking for straightforward duplex income functionality.
The home is positioned for convenience, with access to major highways and public transportation. It is also located near shopping, dining, and schools, along with other everyday amenities.
The layout supports flexible occupancy options for an owner-occupant or an investor. One side can be used as a residence while the other unit can provide rental income, or both units can be leased depending on the operator’s goals. This combination of updated interiors, two separate residential units, and usable basement and yard space makes the property well-suited for tenants seeking comfortable 2-bedroom living or buyers looking for straightforward duplex income functionality.
Key Highlights
- Renovated 2‑unit duplex built in 1920
- Two spacious 2‑bedroom, 1‑bath apartments
- Full basement offering storage and potential for expansion
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,073
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$661,460
$661.5K
Cap Rate 7%
$472,471
$472.5K
Cap Rate 9%
$367,478
$367.5K
Market Conditions
NOI Build-Up for 1,736 SF
Gross rent
$50.0K $28.80/SF
− Vacancy
−$2.7K −$1.58/SF
EGI
$47.2K $27.22/SF
− OpEx
−$14.2K −$8.16/SF
NOI
$33.1K $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 Rate 5%
$661,460
Cap Rate 7%
$472,471
Cap Rate 9%
$367,478
Alternative Uses
Best Use
Multifamily LT 5
$472.5K
$413.4K – $551.2K
NOI $33,073 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$420.7K
$368.1K – $490.9K
NOI $29,451 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$643.0K
$562.6K – $750.2K
NOI $45,010 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 07202, NJ
43,389
Population
15,866
Households
2.7
Avg Household Size
36
Median Age
13%
College-Educated
76%
High-School Grad
2.3 sq mi
ZIP Area
18,865
Density / Sq Mi
$68,071
Median Household Income
$40,505
Median Earnings
$1,508
Median Rent
$358,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated two-unit duplex with two 2-bedroom apartments, full basement storage, and a private backyard.
Where is this duplex located?
The property is located at 738 Edgar Rd Elizabeth, NJ.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Renovated 2‑unit duplex built in 1920; Two spacious 2‑bedroom, 1‑bath apartments; Full basement offering storage and potential for expansion
