Duplex with Private Backyard
For Sale
$529,000
738 Edgar Road, Elizabeth, NJ 07202
MULTI_FAMILY - Elizabeth, NJ
Property Size1,736 SF
Lot Size0.05 Acres
Price / SF$304.72
Days on Market54
Property Features for 738 Edgar Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bathroom 2, Bathroom 1
Patio and Porch features
Patio
Interior features
Unit 1(2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(2 Bedrooms, Kitchen, 1 Bath, Living Room)
Exterior features
Patio
Appliances
Water Heater(See Remarks, Gas), Water Heater
Lot features
Near Shopping, Near Train, Near Public Transit
Elementary school district
Elizabeth City School District
Middle school district
Elizabeth City School District
High school district
Elizabeth City School District
Directions
From Main St, turn onto Edgar Rd; 738 Edgar Rd, Elizabeth, NJ 07202. GPS works fine.
Standard status
Active
APN
0400442000000009
Size
1,736 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6790
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Hot Water(Heating)
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
Peter Boutros · License #300361
(866) 201-6210
Added: Jun 17
Changed: Aug 3
Last Checked: Aug 9 at 1:06AM
MLS# 2617650R
Copyright © 2026 All Jersey 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 duplex provides two separate units, each with 2 bedrooms and 1 full bath, plus a shared full basement that offers additional storage and potential for future expansion. The property includes a private backyard/patio area for outdoor use, and the units were described as recently renovated.
The home was built in 1920 and is served by public water and public sewer. Heating is hot water, and cooling is provided by wall unit(s). Interior layouts include living rooms and kitchens for both units, along with bathrooms and basement space.
Configured for multi-tenant living, this type of duplex can support owner-occupancy with rental income from the second unit, or renting both units, depending on your intended use. The combination of two self-contained layouts, basement utility space, and outdoor patio area supports a practical residential income setup.
The home was built in 1920 and is served by public water and public sewer. Heating is hot water, and cooling is provided by wall unit(s). Interior layouts include living rooms and kitchens for both units, along with bathrooms and basement space.
Configured for multi-tenant living, this type of duplex can support owner-occupancy with rental income from the second unit, or renting both units, depending on your intended use. The combination of two self-contained layouts, basement utility space, and outdoor patio area supports a practical residential income setup.
Key Highlights
- Two 2‑bedroom, 1‑bath units with kitchens and living rooms
- Full basement with storage and potential for expansion
- Private backyard patio area for outdoor use
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
$33,073
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
6.25%
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%
$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
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
$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 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%
$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
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex featuring two 2-bedroom, 1-bath units, a full basement, and a private backyard patio area.
Where is this duplex located?
The property is located at 738 Edgar Road 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: Two 2‑bedroom, 1‑bath units with kitchens and living rooms; Full basement with storage and potential for expansion; Private backyard patio area for outdoor use
