Duplex with
For Sale
$320,000
Pending
209 Chicago Avenue, Egg Harbor City, NJ 08215
MULTI_FAMILY - Egg Harbor City, NJ
Property Size1,200 SF
Lot Size0.17 Acres
Days on Market92
Property Features for 209 Chicago Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 1, Basement, Bedroom 4, Bedroom 5
Directions
S Bremen Ave to Arago St to Chicago Ave on the left
Standard status
Pending
APN
07-00432-0000-00028
Size
1,200 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5351
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1960
Floors in Building
1
Number of units
2
Listing Agency:
Jersey Property Group Realty
(732) 800-1767
Listed By:
Donna Mancuso · License #0675353
(732) 800-1767
Added: May 13
Changed: Aug 7
Last Checked: Aug 12 at 9:06AM
MLS# 22614043
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 duplex is positioned as a tenant-occupied, leased investment property. The home is offered strictly as-is, where-is, and the seller makes no representations or warranties. Tenant occupancy should be respected, and the property should not be approached without a confirmed appointment. Buyers should complete due diligence, including inspections and review of municipal requirements per New Jersey guidelines.
The property sits on a 0.17-acre lot and was built in 1960. Public water and public sewer service are available. The property size is listed at 1,200 square feet, and it includes a basement.
Interior layout information includes five bedrooms and two bathrooms, with Bedroom 1 through Bedroom 5 and Bathroom 1 through Bathroom 2 listed in the room information provided.
The property sits on a 0.17-acre lot and was built in 1960. Public water and public sewer service are available. The property size is listed at 1,200 square feet, and it includes a basement.
Interior layout information includes five bedrooms and two bathrooms, with Bedroom 1 through Bedroom 5 and Bathroom 1 through Bathroom 2 listed in the room information provided.
Key Highlights
- Tenant‑occupied duplex is currently leased
- 0.17‑acre lot
- 1,200 square feet
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
$13,666
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
4.27%
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%
$273,320
$273.3K
Cap Rate 7%
$195,229
$195.2K
Cap Rate 9%
$151,844
$151.8K
Market Conditions
NOI Build-Up for 1,200 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
$20.9K $17.40/SF
− Vacancy
−$1.4K −$1.13/SF
EGI
$19.5K $16.27/SF
− OpEx
−$5.9K −$4.88/SF
NOI
$13.7K $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%
$273,320
Cap Rate 7%
$195,229
Cap Rate 9%
$151,844
Alternative Uses
Best Use
Multifamily LT 5
$195.2K
$170.8K – $227.8K
NOI $13,666 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$171.6K
$150.2K – $200.2K
NOI $12,012 @ 7.0% cap · market cap 3.75%
Theoretical Best
Warehouse
$446.9K
$391.0K – $521.4K
NOI $31,281 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
66
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
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 - Duplex on 0.17-acre lot with public water and public sewer, built in 1960.
Where is this duplex located?
The property is located at 209 Chicago Avenue Egg Harbor City, NJ.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Tenant‑occupied duplex is currently leased; 0.17‑acre lot; 1,200 square feet
