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    Two-Family Home in Journal Square Title is generated by Realmo AI

    77 WALLIS AVE JC, Jersey City, NJ 07306

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    For Sale
    $649,000

    Multi-level, 2 Family - JC, Journal Square, NJ

    Added:
    May 6, 2026
    Days on Market:
    9
    Last Refresh:
    May 14 at 5:06 pm

    Property Features for 77 WALLIS AVE JC

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Basement Y/N
    1
    Standard status
    Active

    Utilities

    Heating system
    Baseboard, Hot Water (Heating), Natural Gas

    Building Details

    Building materials
    Brick
    Architectural style
    Other

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    Listing Contact
    NATASHA PERSAUD

    Listing agent NATASHA PERSAUD License #1756825

    Listing office PROVIDENT LEGACY REAL ESTATE SERVICES LLC 177 BROADWAY, bayonne, NJ

    Listing date May 6, 2026

    MLS# 260008461 Listing URL

    Copyright © 2026 Realty MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Two‑family property offering rental income potential or multi‑generational living.
    • Located in the rapidly developing Journal Square area of Jersey City, near dining and shopping.
    • Minutes from the PATH train, providing convenient access to New York City.
    • Five bedrooms and three bathrooms across two units.
    • Spacious outdoor area with potential for improvement or expansion.
    • Brick construction with a basement.

    Overview

    Located in the Journal Square area of Jersey City, 77 Wallis Ave is a two-family property featuring 5 bedrooms and 3 bathrooms. This multi-level home offers potential for homeowners and investors alike. The property includes two separate units, providing flexibility for rental income or multi-generational living. The home provides a foundation for further renovation or customization, making it ideal for buyers looking to enhance value and maximize its full potential. With generously sized rooms and a versatile layout, the property is well-suited for creating long-term income or tailoring the space. A spacious outdoor area adds appeal, offering possibilities for improvement, expansion, or entertaining. The property is minutes from the PATH train for a commute to New York City. The location offers proximity to the Journal Square district, known for its dining, shopping, and ongoing development. Newark Liberty International Airport is nearby, along with access to major highways. This property offers the opportunity to own a two-family property with upside in a developing neighborhood and potential rental income.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Jersey City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.0758129
    Latitude
    40.7344034

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    FAQs

    What type of property is this?
    Duplex - Two-family property near Journal Square with income potential.
    Where is this duplex located?
    The property is located at 77 WALLIS AVE JC Jersey City, NJ.
    What is the asking price?
    The asking price for this property is $649,000.
    What are key features of this property?
    This property features: Two‑family property offering rental income potential or multi‑generational living.; Located in the rapidly developing Journal Square area of Jersey City, near dining and shopping.; Minutes from the PATH train, providing convenient access to New York City.
    (201) 809-9925
    We can help!
    Listing Contact
    NATASHA PERSAUD
    Real Estate License ID: 1756825
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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