Tenant-Occupied
For Sale
$280,000
113-115 7th Terrace, Egg Harbor City, NJ 08215
Multi-Family, Egg Harbor City, NJ
Property Size1,322 SF
Lot Size0.04 Acres
Price / SF$211.80
Days on Market140
Property Features for 113-115 7th Terrace
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Basement, Bathroom 1
Directions
GPS will get you there.
Standard status
Active
APN
07-00321-0000-00004-02
Size
1,322 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4705
Utilities
Sewer type
Public Sewer
Heating system
Zoned
Cooling system
Zoned
Water source
Public
Building Details
Year built
1960
Floors in Building
2
Number of units
2
Listing Agency:
Jersey Property Group Realty
(732) 800-1767
Listed By:
Donna Mancuso · License #0675353
(609) 977-3926
Added: May 11
Changed: Sep 16
Last Checked: Sep 27 at 12:06AM
MLS# 22613635
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This tenant-occupied duplex contains 1322 square feet on a 0.04-acre lot. The floor plan includes two bedrooms, two bathrooms, and a basement. Zoned heating and cooling serve the property, which was built in 1960.
Located at 113-115 7th Terrace in Egg Harbor City, New Jersey, the property has public water and public sewer service. The sale is offered strictly as-is, where-is, with buyer responsibility for due diligence, inspections, and applicable municipal requirements. Tenant access should be arranged through a confirmed appointment.
Located at 113-115 7th Terrace in Egg Harbor City, New Jersey, the property has public water and public sewer service. The sale is offered strictly as-is, where-is, with buyer responsibility for due diligence, inspections, and applicable municipal requirements. Tenant access should be arranged through a confirmed appointment.
Key Highlights
- Duplex with 1322 square feet of building area
- Tenant‑occupied property offered strictly as‑is, where‑is
- Two bedrooms and two bathrooms
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
$15,055
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
5.38%
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%
$301,100
$301.1K
Cap Rate 7%
$215,071
$215.1K
Cap Rate 9%
$167,278
$167.3K
Market Conditions
NOI Build-Up for 1,322 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
$23.0K $17.40/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$21.5K $16.27/SF
− OpEx
−$6.5K −$4.88/SF
NOI
$15.1K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /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%
$301,100
Cap Rate 7%
$215,071
Cap Rate 9%
$167,278
Alternative Uses
Best Use
Multifamily LT 5
$215.1K
$188.2K – $250.9K
NOI $15,055 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$189.0K
$165.4K – $220.6K
NOI $13,233 @ 7.0% cap · market cap 4.73%
Theoretical Best
Warehouse
$492.3K
$430.8K – $574.4K
NOI $34,461 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
Business Placement
Demographics for 08215, NJ
14,092
Population
5,813
Households
2.4
Avg Household Size
45
Median Age
23%
College-Educated
92%
High-School Grad
124.1 sq mi
ZIP Area
114
Density / Sq Mi
$84,630
Median Household Income
$46,680
Median Earnings
$1,525
Median Rent
$266,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two-unit residential property with a basement, zoned climate control, and public water and sewer service.
Where is this duplex located?
The property is located at 113-115 7th Terrace Egg Harbor City, NJ.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Duplex with 1322 square feet of building area; Tenant‑occupied property offered strictly as‑is, where‑is; Two bedrooms and two bathrooms
