Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    513 Monastery Pl Union City, NJ 07087-3338
    Back to Search
    Property profile & analytics

    513 Monastery Pl, Union City, NJ 07087-3338

    View on Map
    • Residential income homes
    • 3,104 SF
    • 0.06 lot acres
    Off-Market
    Last Sale Apr 12, 2021
    $670,000
    Property ID
    US59-3052700
    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.
    Value Estimations
    $745,000
    Show details
    Cap Rate Potential
    6%
    Residential income homes
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 513 Monastery Pl

    Year built
    1883
    Construction
    FRAME
    Lot size
    0.06 lot acres
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    10 00103-0000-00011
    APU
    1000103000000011

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 12, 2021 $670,000 Catholic Charities Of The Archdio Leonel Lemus Grant Deed —
    May 7, 2007 $425,000 Leonel Lemus Michael O'connor Bargain And Sale Deed —
    Aug 18, 2003 $325,000 Michael O'connor Zambas,costas & Eleni Grant Deed $221k · Greenpoint Mortgage Funding

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $860,000
      ML approach
      $890,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $865,000
      6.5%
      $800,000
      7%
      $740,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $714,000
      Market price range: $715k - $1.18M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $790,000
      Current use
      COMMERCIAL (GENERAL)
      $700,000
      Change: -12% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Union City
    County
    Hudson
    State
    New Jersey
    Longitude
    -74.035
    Latitude
    40.7649
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $10,710
    $88,900
    $61,100
    $150,000
    -
    $88,900
    $61,100
    $150,000

    Comparable in this City

    • Value Estimation
      $730,000
      2,856 SF

      714 26th St

      APARTMENT HOUSE (UNDER 5 UNITS)
      714 26th St, Union City, NJ 07087-2239
      View Details
    • Value Estimation
      $740,000
      2,430 SF

      2510 Adam Pl

      APARTMENT HOUSE (UNDER 5 UNITS)
      2510 Adam Pl, Union City, NJ 07087-2240
      View Details
    • Value Estimation
      $600,000
      3,638 SF

      415 41st St

      APARTMENT HOUSE (UNDER 5 UNITS)
      415 41st St, Union City, NJ 07087-4976
      View Details
    • Value Estimation
      $580,000
      2,475 SF

      1317 Bergenline Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      1317 Bergenline Ave, Union City, NJ 07087-3100
      View Details
    • Value Estimation by Request
      2,658 SF

      508 16th St

      APARTMENT HOUSE (UNDER 5 UNITS)
      508 16th St, Union City, NJ 07087-6859
      View Details
    • Value Estimation
      $865,000
      5,600 SF

      3331 Palisade Ave

      APARTMENT HOUSE (UNDER 5 UNITS)
      3331 Palisade Ave, Union City, NJ 07087-4754
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Fully Occupied Multifamily Investment Opportunity

      12 fully occupied units, a great investment opportunity.
      1615 Palisade Ave, Union City, NJ 07087
      View Details
    • Contact for pricing

      Union City Multifamily Investment Opportunity

      Legal 6-family building with owner's unit and private yard.
      310 28Th St, Union City, NJ 07087
      View Details
    • $799,000

      Multifamily Investment Opportunity

      Six-unit property with upside potential in a growing area.
      109 33Rd St, Union City, NJ 07087
      View Details
    • $799,000

      Union City Apartment Building Investment

      Six-unit apartment building near Bergenline Avenue in Union City.
      711 25Th St, Union City, NJ 07087
      View Details
    • Contact for pricing
      2,500 SF

      Union City Multifamily Investment

      Six-unit multifamily property in Union City, New Jersey.
      711 25Th St, Union City, NJ 07087
      View Details
    • Contact for pricing

      Fully Occupied Multifamily Investment

      Twelve fully occupied units, a great investment opportunity.
      1615 Palisade Ave, Union City, NJ 07087
      View Details

    Similar Nearby for Lease

    • $2,250 /Mo
      Pending

      Union City Renovated Apartment Rental

      Renovated 2-bedroom apartment with NYC views and convenient location.
      201 16Th St, Union City, NJ 07087
      View Details
    • $2,950 /Mo

      Union City Office Space Available

      Well-maintained Union City office space with garage and private bathroom.
      2108 West St, Union City, NJ 07087
      View Details
    • $7,777 /Mo

      Union City Flex Space Available

      7,500 SF flex space on Bergenline Avenue for rent.
      2610 Bergenline Ave, Union City, NJ 07087
      View Details
    • Contact for pricing

      Union City Commercial Space Available

      High-visibility Union City commercial space ideal for various professional uses.
      1304 New York Ave, Union City, NJ 07087
      View Details
    • Contact for pricing

      Union City Commercial Condo Opportunity

      Versatile commercial condo in Union City, ideal for various uses.
      910 Summit Ave, Union City, NJ 07087
      View Details
    • $1,000 /Mo

      Union City Professional Office Space

      Professional office space available for rent in Union City.
      4515 Bergenline Ave, Union City, NJ 07087
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    513 Monastery Pl
    Union City, NJ 07087-3338
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    513 Monastery Pl, Union City, NJ, 07087
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!