Two-Unit Duplex with
New
For Sale
$899,000
88 Echo Pl, Elmwood Park, NJ 07407
Separate utilities and private entrances serve the two residences.
Property Size2,092 SF
Days on Market3
Property Features for 88 Echo Pl
General Information
Standard status
Active
Size
2,092 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$11,511
Building Details
Building Size
2,092 SF
Year Built
1952
Stories
2
Listing Agency:
RE/MAX 1st Advantage
Listed By:
STEPHEN SANTURRO · License #1973258
(732) 589-5596
Source:
Elliman
Added: Oct 28
Last Checked: Oct 28 at 2:53PM
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 1st Advantage
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Investment Insights
Based on property information with market context.
Built in 1952, this two-unit duplex has five bedrooms and two full bathrooms, with a three-bedroom residence on the first floor and a two-bedroom unit above. Both homes have living rooms and eat-in kitchens. Central air and ceiling fans serve the property, and each unit has a private entrance and separate utilities.
The partial finished basement includes a recreation room with a dry bar, storage, laundry facilities, and utility access. Outside, the fenced backyard has a deck and covered patio. An attached two-car garage and double-width driveway provide on-site parking. The property is at 88 Echo Pl in Elmwood Park, with access to the Garden State Parkway, Route 46, and bus service to New York City.
The partial finished basement includes a recreation room with a dry bar, storage, laundry facilities, and utility access. Outside, the fenced backyard has a deck and covered patio. An attached two-car garage and double-width driveway provide on-site parking. The property is at 88 Echo Pl in Elmwood Park, with access to the Garden State Parkway, Route 46, and bus service to New York City.
Key Highlights
- Two residences with a 3‑bedroom/2‑bedroom layout and two full bathrooms
- Separate utilities and private entrances for each unit
- Partial finished basement with recreation room, dry bar, storage, and laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,012
Cap Rate
3.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,240
$700.2K
Cap Rate 7%
$500,171
$500.2K
Cap Rate 9%
$389,022
$389.0K
Market Conditions
NOI Build-Up for 2,092 SF
Gross rent
$53.5K $25.56/SF
− Vacancy
−$3.5K −$1.65/SF
EGI
$50.0K $23.91/SF
− OpEx
−$15.0K −$7.17/SF
NOI
$35.0K $16.74/SF
Area
Bergen 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 Rate 5%
$700,240
Cap Rate 7%
$500,171
Cap Rate 9%
$389,022
Alternative Uses
Best Use
Multifamily LT 5
$500.2K
$437.7K – $583.5K
NOI $35,012 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$459.6K
$402.1K – $536.2K
NOI $32,171 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$546.3K
$478.0K – $637.3K
NOI $38,238 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,319
Businesses Nearby
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Business Placement
Demographics for 07407, NJ
21,422
Population
7,561
Households
2.8
Avg Household Size
41
Median Age
36%
College-Educated
91%
High-School Grad
2.6 sq mi
ZIP Area
8,239
Density / Sq Mi
$100,852
Median Household Income
$51,764
Median Earnings
$2,025
Median Rent
$456,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities and private entrances serve the two residences.
Where is this duplex located?
The property is located at 88 Echo Pl Elmwood Park, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two residences with a 3‑bedroom/2‑bedroom layout and two full bathrooms; Separate utilities and private entrances for each unit; Partial finished basement with recreation room, dry bar, storage, and laundry
