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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    243 Duncan Ave Jersey City, NJ 07306

    • Commercial real estate
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US59-3016012
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 243 Duncan Ave

    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a three-story, six-unit apartment building situated in the vibrant Journal Square neighborhood of Jersey City, New Jersey. Located at 243 Duncan Ave, 07306, this Class B multifamily property boasts a substantial 31 x 140 lot. The building comprises six two-bedroom apartments, each in a "box-style" configuration. A single gas furnace efficiently heats the building via six independent heating zones. Currently, the property enjoys a strong rent roll, with only one unit currently vacant. Its excellent condition and low maintenance requirements contribute to its appeal as a stable and profitable investment. The property's proximity to the PATH train offers convenient access to New York City, further enhancing its desirability and potential for rental income. This value-add opportunity presents a chance to capitalize on the thriving Jersey City real estate market and secure a strong return on investment. The asking price for this attractive multifamily property is $1,200,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Jersey City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.079968401115
    Latitude
    40.728177728138

    Comparable in this City

    • $7,500,000

      Approved Development Opportunity in Jersey

      Approved 7-story residential building project with 101 units in Jersey.
      120 Storms Ave, Jersey City, NJ 07306
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    • $1,200,000

      Prime Jersey City Multifamily Investment

      High-Yield Rooming House, PATH Access
      2767 John F Kennedy Blvd, Jersey City, NJ 07306
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    • $639,000
      1,400 SF

      New Construction Two-Bedroom Condo

      Modern 2-bedroom condo with rooftop deck in evolving neighborhood.
      165 Delaware Ave #3, Jersey City, NJ 07306
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    • $679,000

      Modern Jersey City Living

      New construction three-unit building in a rapidly evolving neighborhood.
      163 Delaware Ave, Jersey City, NJ 07306
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    • $7,500,000

      Approved Jersey City Development Opportunity

      Approved 7-story residential building project in Jersey City.
      120 Storms Ave, Jersey City, NJ 07306
      View Details
    • $399,000
      745 SF

      Boutique Condominium Development in McGinley

      Exclusive collection of 35 residences in evolving Jersey City neighborhood.
      35 Orch St #202, Jersey City, NJ 07306
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    Similar Nearby for Sale

    • $7,500,000

      Approved Development Opportunity in Jersey

      Approved 7-story residential building project with 101 units in Jersey.
      120 Storms Ave, Jersey City, NJ 07306
      View Details
    • $1,200,000

      Prime Jersey City Multifamily Investment

      High-Yield Rooming House, PATH Access
      2767 John F Kennedy Blvd, Jersey City, NJ 07306
      View Details
    • $639,000
      1,400 SF

      New Construction Two-Bedroom Condo

      Modern 2-bedroom condo with rooftop deck in evolving neighborhood.
      165 Delaware Ave #3, Jersey City, NJ 07306
      View Details
    • $679,000

      Modern Jersey City Living

      New construction three-unit building in a rapidly evolving neighborhood.
      163 Delaware Ave, Jersey City, NJ 07306
      View Details
    • $7,500,000

      Approved Jersey City Development Opportunity

      Approved 7-story residential building project in Jersey City.
      120 Storms Ave, Jersey City, NJ 07306
      View Details
    • $399,000
      745 SF

      Boutique Condominium Development in McGinley

      Exclusive collection of 35 residences in evolving Jersey City neighborhood.
      35 Orch St #202, Jersey City, NJ 07306
      View Details

    Similar Nearby for Lease

    • $2,358 /Mo

      Spacious Apartment with Den

      One-bedroom apartment with den, modern amenities, and rooftop lounge.
      179 Academy St #204, Jersey City, NJ 07306
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    • $1,900 /Mo

      Journal Square Apartment For Rent

      Charming 1 bed, 1 bath apartment near Journal Square.
      2700 Kennedy Blvd #308, Jersey City, NJ 07306
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    • $1,650 /Mo

      New Studio Apartment Available

      Brand new studio apartment for rent in great location.
      785 Newark Ave, Jersey City, NJ 07306
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    • $2,300 /Mo

      Journal Square Apartment with Skyline View

      One-bedroom apartment near Journal Square PATH with Manhattan views.
      3 Perrine Ave, Jersey City, NJ 07306
      View Details
    • $1,750 /Mo

      Convenient Jersey City Apartment

      Two-bedroom apartment near Journal Square PATH. Available September 1st.
      170 St Pauls Ave, Jersey City, NJ 07306
      View Details
    • $2,400 /Mo

      Journal Square 2-Bedroom Apartment

      Cozy 2-bedroom apartment in Journal Square, Jersey City.
      23 Vroom St, Jersey City, NJ 07306
      View Details
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    243 Duncan Ave
    Jersey City, NJ 07306
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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.

    More about this property
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