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SOLD 24 2012

503-505 Erico Ave

Elizabeth, NJ

$290,000

372

Sq. Ft.

$780

Per Sq. Ft.

Residential

Property Type

Tax Assessment Analysis

Sale Price

$290,000

Total Assessed

$490,500

Sale vs. Assessed

-$200,500 (-40.9%)

Land Value

$168,600

Building Value

$659,100

Elizabeth Market Overview

$500,000

Median Price

122

Total Sales

+126.0%

Year over Year

Seller's

Market Type

📊 Investment Analysis

$2,030

Est. Monthly Rent

$2,091

Est. Mortgage

6.71% · 20% down

-$61

Monthly Cash Flow

8.4%

Cap Rate

-1.3%

Cash-on-Cash Return

Estimates based on 0.7% rent rule, 6.71% interest rate, 20% down payment. For illustrative purposes only.

🏘 Elizabeth Neighborhood Guide

Walk Score

Very Walkable

Min to NYC

Direct train

Elizabeth Station

Train Station

Northeast Corridor

Neighborhoods in Elizabeth

Elmora $625,000 to $750,000

Best for: Families, professionals

Peterstown $425,000 to $500,000

Best for: Foodies, heritage seekers

Bayway $420,000 to $460,000

Best for: Value buyers, food enthusiasts

Westminster $550,000 to $650,000

Best for: Academic families, empty nesters

Elizabethport $400,000 to $585,000

Best for: First time buyers, commuters, waterfront lovers

Midtown and Downtown $475,000 to $725,000

Best for: Urban professionals, culture seekers, investors

North Elizabeth $400,000 to $500,000

Best for: Airport workers, commuters, practical buyers

Frog Hollow $350,000 to $450,000

Best for: Investors, renovation buyers, history buffs

Keighry Head $350,000 to $425,000

Best for: First time buyers, budget conscious

Latin District $400,000 to $550,000

Best for: Culture lovers, entrepreneurs, food enthusiasts

Elizabeth is the fourth largest city in New Jersey and one of the most historically significant cities on the East Coast. Founded in 1664 as Elizabethtown, it served as the colony's first capital where New Jersey's first legislature met in 1668. Today it is a thriving, culturally rich city of 140,00...

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