Two-Unit Duplex with Separate
For Sale
Under Contract
$300,000
18 MYRTLE Avenue, Lawrence Township, NJ 08648
Multi-Family, LAWRENCE TOWNSHIP, NJ
Property Size1,545 SF
Lot Size0.07 Acres
Price / SF$194.17
Days on Market48
Property Features for 18 MYRTLE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Subdivision
NONE AVAILABLE
Elementary school district
LAWRENCE TOWNSHIP
Middle school district
LAWRENCE TOWNSHIP
High school district
LAWRENCE TOWNSHIP
Special listing conditions
Short Sale
Standard status
Active Under Contract
Size
1,545 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
5554
Utilities
Heating system
Hot Water(Heating), Baseboard
Cooling system
Wall Unit(s)
Building Details
Year built
1926
Number of units
1
Building materials
Frame
Listing Agency:
Keller Williams Realty - Moorestown
(856) 316-1100
Listed By:
Jennifer L Mendez · License #1109497
(908) 217-3722
Added: Jul 21
Changed: Sep 4
Last Checked: Sep 6 at 4:06AM
MLS# NJME2081044
Copyright © 2026 Bright 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 two-unit duplex contains a one-bedroom, one-bath lower apartment and an upper apartment with three bedrooms and one bathroom; the upper layout may accommodate a fourth bedroom. Each unit has its own boiler, water heater, electric panel, gas meter, and electric meter. The 1,545-square-foot property was built in 1926 and includes a basement, frame construction, baseboard and hot-water heating, and wall-unit cooling.
The property occupies 0.0744 acres at 18 Myrtle Avenue in Lawrence Township, Mercer County, New Jersey. It is offered in its existing condition, with the seller making no repairs.
The property occupies 0.0744 acres at 18 Myrtle Avenue in Lawrence Township, Mercer County, New Jersey. It is offered in its existing condition, with the seller making no repairs.
Key Highlights
- Two‑unit duplex with a 1‑bed/1‑bath lower unit and a 3‑bed/1‑bath upper unit
- Upper apartment may accommodate a fourth bedroom
- Each unit has its own boiler, water heater, electric panel, gas meter, and electric meter
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
$27,302
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
9.10%
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%
$546,040
$546.0K
Cap Rate 7%
$390,029
$390.0K
Cap Rate 9%
$303,356
$303.4K
Market Conditions
NOI Build-Up for 1,545 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
$41.7K $27.00/SF
− Vacancy
−$2.7K −$1.76/SF
EGI
$39.0K $25.25/SF
− OpEx
−$11.7K −$7.57/SF
NOI
$27.3K $17.67/SF
Area
Mercer County, NJ
Vacancy
6.50%
Lease Rate
$27.00 /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%
$546,040
Cap Rate 7%
$390,029
Cap Rate 9%
$303,356
Alternative Uses
Best Use
Multifamily LT 5
$390.0K
$341.3K – $455.0K
NOI $27,302 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$336.9K
$294.8K – $393.0K
NOI $23,581 @ 7.0% cap · market cap 7.86%
Theoretical Best
Warehouse
$497.1K
$435.0K – $579.9K
NOI $34,796 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,317
Businesses Nearby
Explore this area
Business Placement
Demographics for 08648, NJ
31,955
Population
12,217
Households
2.6
Avg Household Size
40
Median Age
60%
College-Educated
92%
High-School Grad
16.7 sq mi
ZIP Area
1,913
Density / Sq Mi
$118,036
Median Household Income
$54,833
Median Earnings
$1,953
Median Rent
$395,400
Median Home Value
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 - Frame-built property with independently metered utilities and dedicated heating equipment for both units.
Where is this duplex located?
The property is located at 18 MYRTLE Avenue Lawrence Township, NJ.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑unit duplex with a 1‑bed/1‑bath lower unit and a 3‑bed/1‑bath upper unit; Upper apartment may accommodate a fourth bedroom; Each unit has its own boiler, water heater, electric panel, gas meter, and electric meter
