Income-Generating Duplex with Two
For Sale
$239,900
409 D Street, Millville, NJ 08332
MULTI_FAMILY - Other - MILLVILLE, NJ
Property Size1,624 SF
Lot Size0.08 Acres
Price / SF$147.72
Days on Market26
Property Features for 409 D Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Appliances
Stove, Refrigerator
Middle school
LAKESIDE
High school
MILLVILLE SENIOR
Elementary school district
MILLVILLE BOARD OF EDUCATION
Middle school district
MILLVILLE BOARD OF EDUCATION
High school district
MILLVILLE BOARD OF EDUCATION
Standard status
Active
Size
1,624 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
4985
Utilities
Heating system
Baseboard, Hot Water(Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1947
Number of units
2
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Keller Williams Realty - Washington Township
(856) 582-1200
Listed By:
Gregory Petrelli · License #1542202
(856) 304-5927
Added: Jul 13
Changed: Jul 16
Last Checked: Aug 7 at 8:06AM
MLS# NJCB2031622
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 for-sale duplex offers two separate units, with one apartment on the first floor and the other on the second. Each unit includes 2 bedrooms, 1 full bathroom, a spacious living area, and a private entrance.
The property is located at 409 D Street in Millville, New Jersey (Cumberland County). Public remarks note convenience to shopping, restaurants, schools, and major roadways.
With two independently accessed apartments, the layout provides a straightforward configuration for rental income or owner-occupancy, depending on an occupant’s preference.
The property is located at 409 D Street in Millville, New Jersey (Cumberland County). Public remarks note convenience to shopping, restaurants, schools, and major roadways.
With two independently accessed apartments, the layout provides a straightforward configuration for rental income or owner-occupancy, depending on an occupant’s preference.
Key Highlights
- Income‑producing duplex with two separate units, one on the first floor and one on the second floor
- Each unit has 2 bedrooms and 1 full bathroom, plus its own private entrance
- Includes a spacious living area in each unit
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
$21,120
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
8.80%
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%
$422,400
$422.4K
Cap Rate 7%
$301,714
$301.7K
Cap Rate 9%
$234,667
$234.7K
Market Conditions
NOI Build-Up for 1,624 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
$32.2K $19.80/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$30.2K $18.58/SF
− OpEx
−$9.1K −$5.57/SF
NOI
$21.1K $13.00/SF
Area
Cumberland County, NJ
Vacancy
6.17%
Lease Rate
$19.80 /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%
$422,400
Cap Rate 7%
$301,714
Cap Rate 9%
$234,667
Alternative Uses
Best Use
Multifamily LT 5
$301.7K
$264.0K – $352.0K
NOI $21,120 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$277.7K
$243.0K – $324.0K
NOI $19,442 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$2.44M
$2.13M – $2.84M
NOI $170,691 @ 7.0% cap · market cap 71.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
248
Businesses Nearby
Explore this area
Business Placement
Demographics for 08332, NJ
35,396
Population
15,063
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
86%
High-School Grad
104.5 sq mi
ZIP Area
339
Density / Sq Mi
$65,825
Median Household Income
$39,595
Median Earnings
$1,223
Median Rent
$195,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Duplex for sale with two separate units, each offering 2 bedrooms and 1 full bathroom.
Where is this duplex located?
The property is located at 409 D Street Millville, NJ.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Income‑producing duplex with two separate units, one on the first floor and one on the second floor; Each unit has 2 bedrooms and 1 full bathroom, plus its own private entrance; Includes a spacious living area in each unit
