Two-Unit Duplex with Detached
For Sale
$625,000
927 Meredith Ave, Elizabeth, NJ 07202
Two separate two-bedroom apartments are complemented by finished attic space and a partially finished basement.
Property Size2,268 SF
Lot Size0.08 Acres
Price / SF$275.57
Days on Market42
Property Features for 927 Meredith Ave
General Information
Standard status
Active
Size
2,268 SF
Total Parking Spaces
5
Lot size
0.08 Acres
Property subtype
Multi Family Home
Net Operating Income
$8,600
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Building Size
2,268 SF
Year Built
1925
Buildings
1
Units
2
Listing Agency:
Keller Williams Real Estate
(215) 860-4200
Listed By:
James Balletto
(732) 821-6400
Source:
Cammarotarealestate
Added: Sep 11
Changed: Oct 22
Last Checked: Oct 22 at 2:28PM
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 Keller Williams Real Estate
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Investment Insights
Based on property information with market context.
This 2,268-square-foot duplex, built in 1925, contains two distinct apartments, each with two bedrooms and one bathroom. The first-floor unit was renovated four years ago. Additional interior space includes a finished attic, a partially finished basement with a third full bathroom, laundry hookups, and storage. A detached two-car garage adds further on-site utility.
The property is at 927 Meredith Ave in Elizabeth, with access to the NJ Turnpike (I-95), Routes 1&9, Route 22, local bus service, and train service to New York City from Elizabeth Station. Woodrow Wilson Elementary, area academies, Newark Airport, and The Mills at Jersey Gardens are also nearby.
The property is at 927 Meredith Ave in Elizabeth, with access to the NJ Turnpike (I-95), Routes 1&9, Route 22, local bus service, and train service to New York City from Elizabeth Station. Woodrow Wilson Elementary, area academies, Newark Airport, and The Mills at Jersey Gardens are also nearby.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 bathroom
- First‑floor apartment renovated four years ago
- Finished attic and partially finished basement with a third full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,208
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$864,160
$864.2K
Cap Rate 7%
$617,257
$617.3K
Cap Rate 9%
$480,089
$480.1K
Market Conditions
NOI Build-Up for 2,268 SF
Gross rent
$65.3K $28.80/SF
− Vacancy
−$3.6K −$1.58/SF
EGI
$61.7K $27.22/SF
− OpEx
−$18.5K −$8.16/SF
NOI
$43.2K $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 Rate 5%
$864,160
Cap Rate 7%
$617,257
Cap Rate 9%
$480,089
Alternative Uses
Best Use
Multifamily LT 5
$617.3K
$540.1K – $720.1K
NOI $43,208 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$549.7K
$481.0K – $641.3K
NOI $38,476 @ 7.0% cap · market cap 6.16%
Theoretical Best
Office A
$840.1K
$735.1K – $980.1K
NOI $58,804 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,670
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate two-bedroom apartments are complemented by finished attic space and a partially finished basement.
Where is this duplex located?
The property is located at 927 Meredith Ave Elizabeth, NJ.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 bathroom; First‑floor apartment renovated four years ago; Finished attic and partially finished basement with a third full bathroom
