Two-Family Residential Income
241 N 3Rd Ave Manville, NJ 08835
For Sale
$600,000
MULTI_FAMILY - Manville Boro, NJ
Property Size1,584 SF
Lot Size0.11 Acres
Price / SF$378.79
Days on Market16
Property Features for 241 N 3Rd Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bathroom 1, Basement, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2
- Parking
- 10
- Security features
- Security System
- Patio and Porch features
- Deck
- Interior features
- Blinds, Carpeting, Fire Alarm Sys, Fire Extinguisher, Security System, Smoke Detector, Walk-In Closet
- Exterior features
- Deck, Metal Fence, Sidewalk, Storm Window(s), Thermal Windows/Doors
- Fencing
- Fenced
- Standard status
- Active
- Size
- 1,584 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9073
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1944
- Floors in Building
- 2
- Number of units
- 2
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency:
ERA SUBURB REALTY
(908) 322-4434
Listed By:
JENNI JEREMIAS
(908) 322-4434
Added: Jul 9
Changed: Jul 13
Last Checked: Jul 24 at 12:06AM
MLS# 4039645
Copyright © 2026 Garden State MLS, LLC. 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.
Located at 241 N 3rd Ave in Manville Boro, NJ, this two-family residence offers two separate units, each configured with 2 bedrooms and 1 full bathroom. The home includes a large unfinished basement that provides additional storage and includes separate washer and dryer setups for each unit. Exterior amenities include a spacious backyard and a deck, offering practical outdoor space for residents.
Recent improvements focus on core building systems and entries. The property features a brand-new HVAC heating and cooling system, a brand-new roof, and a newly constructed front entrance with updated stairs and walkway. Lot size is listed at 0.11 acres, and the overall property size is 1,584 square feet. The home is described as conveniently located near shopping, restaurants, major highways, and public transportation.
For buyers seeking an income-producing setup, the property is presented with both units currently leased. Each unit’s layout supports straightforward day-to-day residential use, while the basement and dedicated laundry facilities add functional value for tenants. With the major recent upgrades and independent living arrangements already in place, this two-family home is positioned for owners who want a manageable, resident-ready rental property.
Recent improvements focus on core building systems and entries. The property features a brand-new HVAC heating and cooling system, a brand-new roof, and a newly constructed front entrance with updated stairs and walkway. Lot size is listed at 0.11 acres, and the overall property size is 1,584 square feet. The home is described as conveniently located near shopping, restaurants, major highways, and public transportation.
For buyers seeking an income-producing setup, the property is presented with both units currently leased. Each unit’s layout supports straightforward day-to-day residential use, while the basement and dedicated laundry facilities add functional value for tenants. With the major recent upgrades and independent living arrangements already in place, this two-family home is positioned for owners who want a manageable, resident-ready rental property.
Key Highlights
- Two‑family home built in 1944 with 2 bedrooms and 1 full bathroom in each unit
- Both units are currently leased at market rent for immediate rental income
- New HVAC heating and cooling system plus a brand‑new roof
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.2k | $21.60 |
| − Vacancy | −$1.9k | −$1.21 |
| EGI | $32.3k | $20.39 |
| − OpEx | −$9.7k | −$6.12 |
| NOI | $22.6k | $14.27 |
1,584 SF · lease $21.60/SF/yr · vacancy 5.61% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$322.9K
$282.6K – $376.8K
NOI $22,606 @ 7.0% cap · market cap 3.77%
Second Best
Apartment 5plus
$281.1K
$245.9K – $327.9K
NOI $19,675 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$413.6K
$361.9K – $482.6K
NOI $28,953 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two leased units with 2 bedrooms and 1 full bath each, plus a large unfinished basement and private outdoor space.
Where is this duplex located?
The property is located at 241 N 3Rd Ave Manville, NJ.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two‑family home built in 1944 with 2 bedrooms and 1 full bathroom in each unit; Both units are currently leased at market rent for immediate rental income; New HVAC heating and cooling system plus a brand‑new roof
