40 MARTIN LUTHER KING JR DR, Jersey City, NJ, 07305
About This Home
Versatile mixed use opportunity featuring two residential units, one commercial space, and a private backyard. Currently generating stable income with room for upside, Ideal for investors, owner occupants, or business owners. Each unit features 3 bedrooms and One and a half Bath with additional basement storage. Separate utilities paid by tenants add to the property’s efficiency and appeal. Conveniently located near the Richard Street Light Rail, offering easy access to Downtown Jersey City and Manhattan. A smart opportunity with flexibility, visibility, and long term upside.
Getting Around
Very Walkable
Good Transit
Very BikeableSchools
Construction
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Property
Lot
- Lot size: 2,271 sqft
- Lot size dimensions: 20.10 x 113
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Heat Wave
- Cold Wave
- Strong Wind
- Winter Weather
- Tsunami
How This Home’s Risks Compare
FEMA Declared Disasters Across New Jersey Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $3,028 | $36,336 |
| Home Insurance * | $276 | $3,312 |
| Property Taxes | $778 | $9,336 |
| Electricity | $193 | $2,318 |
| Total | $4,275 | $51,300 |
Income You'd Need if You Spent...
New Jersey FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-08 | Price change | $599,000 |
| 2026-06-03 | Price change | $619,000 |
| 2026-05-13 | Listed for sale | $649,000 |
| 2020-01-15 | Sold | $365,000 |
| 2019-09-16 | Listed for sale | $425,000 |
| 2019-09-16 | Pending sale | $425,000 |
| 2019-07-29 | Listed for sale | $425,000 |
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