Two-Story Residential Income
For Sale
$829,000
757 Grier Ave, Elizabeth, NJ 07202
A 1926-built property has central air, forced-air natural gas heating, and an unfinished full basement.
Property Size1,900 SF
Price / SF$436.32
Days on Market8
Property Features for 757 Grier Ave
General Information
Standard status
Active
Size
1,900 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,556
Amenities
Central Air
Forced Air, Natural Gas
Full, Unfinished
Shared Driveway
2-Two Story
Building Details
Year Built
1926
Stories
2
Listing Agency:
RE/MAX FIRST REALTY II
Listed By:
SUSELLE SALERMO · License #301161
(732) 945-8852
Source:
Evrealestate
Added: Oct 22
Changed: Oct 28
Last Checked: Oct 28 at 3:32PM
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 RE/MAX FIRST REALTY II
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Investment Insights
Based on property information with market context.
This two-story residential income property contains 1,900 square feet and dates to 1926. Interior features include central air, forced-air heating fueled by natural gas, and a full, unfinished basement. The exterior configuration includes a shared driveway.
Key Highlights
- 1,900 square feet
- Built in 1926
- Two‑story configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,233
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$644,660
$644.7K
Cap Rate 7%
$460,471
$460.5K
Cap Rate 9%
$358,144
$358.1K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$61.6K $32.40/SF
− Vacancy
−$3.0K −$1.56/SF
EGI
$58.6K $30.84/SF
− OpEx
−$26.4K −$13.88/SF
NOI
$32.2K $16.96/SF
Area
Elizabeth, NJ
Vacancy
4.80%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$644,660
Cap Rate 7%
$460,471
Cap Rate 9%
$358,144
Alternative Uses
Best Use
Apartment 5plus
$460.5K
$402.9K – $537.2K
NOI $32,233 @ 7.0% cap · market cap 3.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$703.8K
$615.8K – $821.1K
NOI $49,263 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
939
Businesses Nearby
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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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Frequently Asked Questions
What type of property is this?
Residential income property - A 1926-built property has central air, forced-air natural gas heating, and an unfinished full basement.
Where is this residential income property located?
The property is located at 757 Grier Ave Elizabeth, NJ.
What is the asking price?
The asking price for this property is $829,000.
What are key features of this property?
This property features: 1,900 square feet; Built in 1926; Two‑story configuration
