Duplex Income
For Sale
$225,000
2521 Centennial Ave, Atlantic City, NJ 08401
MULTI_FAMILY - Atlantic City, NJ
Property Size814 SF
Price / SF$276.41
Days on Market98
Property Features for 2521 Centennial Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Standard status
Active
Size
814 SF
Listing Agency:
BHHS Fox & Roach Northfield · Berkshire Hathaway HomeServices
Listed By:
Goran Cedevski · License #1755689
(609) 334-0238
Added: May 6
Changed: Jul 27
Last Checked: Aug 11 at 9:06PM
MLS# 607598
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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 well-maintained duplex includes two separate 1-bedroom, 1-bath units. The upstairs unit is currently tenant-occupied, and the tenant pays all utilities. The first-floor unit is vacant and ready for a new owner or tenant.
The property is located on Centennial Ave in Atlantic City, NJ, directly behind Texas Avenue School.
With its two-unit layout and separate spaces for daily living, the duplex can support an owner-occupied setup or a straightforward two-unit rental configuration.
The property is located on Centennial Ave in Atlantic City, NJ, directly behind Texas Avenue School.
With its two-unit layout and separate spaces for daily living, the duplex can support an owner-occupied setup or a straightforward two-unit rental configuration.
Key Highlights
- Duplex with two 1‑bedroom, 1‑bath units
- Upstairs unit is tenant‑occupied at $950/month; tenant pays all utilities
- First‑floor unit is vacant and ready for a new owner or tenant
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
$9,270
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
4.12%
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%
$185,400
$185.4K
Cap Rate 7%
$132,429
$132.4K
Cap Rate 9%
$103,000
$103.0K
Market Conditions
NOI Build-Up for 814 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
$14.2K $17.40/SF
− Vacancy
−$921 −$1.13/SF
EGI
$13.2K $16.27/SF
− OpEx
−$4.0K −$4.88/SF
NOI
$9.3K $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%
$185,400
Cap Rate 7%
$132,429
Cap Rate 9%
$103,000
Alternative Uses
Best Use
Multifamily LT 5
$132.4K
$115.9K – $154.5K
NOI $9,270 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$116.4K
$101.9K – $135.8K
NOI $8,148 @ 7.0% cap · market cap 3.62%
Theoretical Best
Warehouse
$303.1K
$265.2K – $353.7K
NOI $21,219 @ 7.0% cap · market cap 9.43%
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
2,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 08401, NJ
38,536
Population
20,116
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
76%
High-School Grad
10.7 sq mi
ZIP Area
3,601
Density / Sq Mi
$36,375
Median Household Income
$28,915
Median Earnings
$1,086
Median Rent
$189,600
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 - Well-maintained duplex with two 1-bedroom, 1-bath units, including one tenant-occupied and one vacant unit.
Where is this duplex located?
The property is located at 2521 Centennial Ave Atlantic City, NJ.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Duplex with two 1‑bedroom, 1‑bath units; Upstairs unit is tenant‑occupied at $950/month; tenant pays all utilities; First‑floor unit is vacant and ready for a new owner or tenant
