Two-Family Income
For Sale
$685,000
907 Flora Street, Elizabeth, NJ 07201
Renovated 2-family home offering two 4BR/1BA units, plus a finished basement with full bathroom.
Property Size1,100 SF
Price / SF$622.73
Days on Market215
Property Features for 907 Flora Street
General Information
Standard status
Active
Size
1,100 SF
Property subtype
Multi Family / 2-Two Story
Taxes and HOA fees
Annual Taxes
$8,536
Amenities
Yes
Asphalt Shingle
Carbon Monoxide Detector, Smoke Detector
Finished, Full
Patio, Wood Fence
Vinyl Siding
Building Details
Year Built
1910
Listing Agency:
SIGNATURE REALTY NJ
Listed By:
YESENIA ALCIVAR · License #393106
(973) 921-1111
Source:
Compass
Added: Feb 4
Changed: Aug 8
Last Checked: Jul 23 at 7:21AM
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 SIGNATURE REALTY NJ
Investment Insights
Based on property information with market context.
This income-producing two-family home in Elizabeth offers two separate 4-bedroom, 1-bath units, each with renovated kitchens. The second-floor unit includes new flooring and fresh paint, along with a bonus attic room. A finished basement adds flexible extra living space and includes a full bathroom.
Recent updates include a roof replaced in 2020 and water heaters updated in 2025. The property is also described as having low taxes.
Conveniently located about 1 mile from the Elizabeth Train Station for an easy NYC commute, with minutes to Newark Liberty International Airport and close to shopping, restaurants, and everyday conveniences.
Recent updates include a roof replaced in 2020 and water heaters updated in 2025. The property is also described as having low taxes.
Conveniently located about 1 mile from the Elizabeth Train Station for an easy NYC commute, with minutes to Newark Liberty International Airport and close to shopping, restaurants, and everyday conveniences.
Key Highlights
- Income‑producing 2‑family home with two 4BR/1BA units
- Renovated kitchens and updated interiors, including new flooring and fresh paint on the 2nd floor
- Finished full basement with a full bathroom, plus a bonus attic room on the 2nd floor
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
$20,956
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
3.06%
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%
$419,120
$419.1K
Cap Rate 7%
$299,371
$299.4K
Cap Rate 9%
$232,844
$232.8K
Market Conditions
NOI Build-Up for 1,100 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
$31.7K $28.80/SF
− Vacancy
−$1.7K −$1.58/SF
EGI
$29.9K $27.22/SF
− OpEx
−$9.0K −$8.16/SF
NOI
$21.0K $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%
$419,120
Cap Rate 7%
$299,371
Cap Rate 9%
$232,844
Alternative Uses
Best Use
Multifamily LT 5
$299.4K
$262.0K – $349.3K
NOI $20,956 @ 7.0% cap · market cap 3.06%
Second Best
Apartment 5plus
$266.6K
$233.3K – $311.0K
NOI $18,661 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$407.4K
$356.5K – $475.3K
NOI $28,520 @ 7.0% cap · market cap 4.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,474
Businesses Nearby
Explore this area
Business Placement
Demographics for 07201, NJ
29,390
Population
10,404
Households
2.8
Avg Household Size
35
Median Age
15%
College-Educated
75%
High-School Grad
6.4 sq mi
ZIP Area
4,592
Density / Sq Mi
$62,026
Median Household Income
$33,092
Median Earnings
$1,476
Median Rent
$413,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated 2-family home offering two 4BR/1BA units, plus a finished basement with full bathroom.
Where is this duplex located?
The property is located at 907 Flora Street Elizabeth, NJ.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Income‑producing 2‑family home with two 4BR/1BA units; Renovated kitchens and updated interiors, including new flooring and fresh paint on the 2nd floor; Finished full basement with a full bathroom, plus a bonus attic room on the 2nd floor
