Two-Unit Duplex with
For Sale
$985,000
99 W 37th St, Bayonne, NJ 07002
Bayonne duplex with updated interiors, flexible bedroom arrangements, outdoor space, and parking for multiple vehicles.
Property Size3,025 SF
Price / SF$325.62
Days on Market10
Property Features for 99 W 37th St
General Information
Standard status
Active
Size
3,025 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 5BR/2BA
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
REDFIN CORPORATION
(973) 890-0500
Listed By:
THOMAS M BORKOWSKI · License #392442
Source:
Luminancerealty
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 7:55PM
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 REDFIN CORPORATION
Investment Insights
Based on property information with market context.
Built in 1920, this two-unit duplex provides more than 3,000 square feet with seven bedrooms and three bathrooms. The first-floor residence includes two bedrooms, hardwood floors, a foyer, living room, formal dining room, and a recently renovated eat-in kitchen with pantry storage. The upper residence spans two levels and offers five bedrooms, two full bathrooms, and an additional room that can serve as an office or bedroom.
Outdoor features include a front veranda, landscaped garden, and rear garden area. Off-street parking accommodates up to four vehicles. The property is located on W 37th Street in Bayonne, near parks, local shops, and the 34th St Light Rail.
Outdoor features include a front veranda, landscaped garden, and rear garden area. Off-street parking accommodates up to four vehicles. The property is located on W 37th Street in Bayonne, near parks, local shops, and the 34th St Light Rail.
Key Highlights
- Two‑unit duplex with more than 3,000 square feet
- Seven bedrooms and three bathrooms across both residences
- First‑floor two‑bedroom unit with hardwood floors and renovated eat‑in kitchen
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
$50,627
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
5.14%
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%
$1,012,540
$1.0M
Cap Rate 7%
$723,243
$723.2K
Cap Rate 9%
$562,522
$562.5K
Market Conditions
NOI Build-Up for 3,025 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
$77.3K $25.56/SF
− Vacancy
−$5.0K −$1.65/SF
EGI
$72.3K $23.91/SF
− OpEx
−$21.7K −$7.17/SF
NOI
$50.6K $16.74/SF
Area
Hudson 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 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%
$1,012,540
Cap Rate 7%
$723,243
Cap Rate 9%
$562,522
Alternative Uses
Best Use
Multifamily LT 5
$723.2K
$632.8K – $843.8K
NOI $50,627 @ 7.0% cap · market cap 5.14%
Second Best
Apartment 5plus
$664.5K
$581.5K – $775.3K
NOI $46,518 @ 7.0% cap · market cap 4.72%
Theoretical Best
Warehouse
$1.10M
$958.5K – $1.28M
NOI $76,677 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,453
Businesses Nearby
Explore this area
Business Placement
Demographics for 07002, NJ
71,686
Population
30,161
Households
2.4
Avg Household Size
38
Median Age
40%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
12,360
Density / Sq Mi
$81,285
Median Household Income
$51,157
Median Earnings
$1,593
Median Rent
$446,100
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 - Bayonne duplex with updated interiors, flexible bedroom arrangements, outdoor space, and parking for multiple vehicles.
Where is this duplex located?
The property is located at 99 W 37th St Bayonne, NJ.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Two‑unit duplex with more than 3,000 square feet; Seven bedrooms and three bathrooms across both residences; First‑floor two‑bedroom unit with hardwood floors and renovated eat‑in kitchen
