Colonial Duplex with Separate
For Sale
Under Contract
$250,000
419 E MULBERRY Street, Millville, NJ 08332
Multi-Family, MILLVILLE, NJ
Property Size1,804 SF
Lot Size0.14 Acres
Price / SF$138.58
Days on Market138
Property Features for 419 E MULBERRY Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Elementary school district
MILLVILLE AREA
Middle school district
MILLVILLE AREA
High school district
MILLVILLE AREA
Standard status
Active Under Contract
Size
1,804 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
3678
Utilities
Heating system
Forced Air, Radiant
Building Details
Year built
1927
Number of units
2
Building materials
Frame
Architectural style
Colonial
Listing Agency:
DePalma Realty · ERA Real Estate
(856) 825-5500
Listed By:
Michael DePalma · License #1328898
(609) 501-4162
Added: May 23
Changed: Sep 15
Last Checked: Oct 6 at 11:06PM
MLS# NJCB2030698
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.
Built in 1927, this 1,804-square-foot Colonial duplex contains two separately leased residences. The lower unit offers two bedrooms and one bathroom, while the upper unit includes three bedrooms and one bathroom. Frame construction, radiant and forced-air heating, and on-street parking are documented property features.
Each residence has its own electric and gas meter, supporting straightforward utility administration. Both annual leases extend through the fall, and lease terms include a monthly water/sewer charge that generally covers those expenses. The property is situated on a 0.1364-acre lot in Millville, New Jersey, within Cumberland County.
Each residence has its own electric and gas meter, supporting straightforward utility administration. Both annual leases extend through the fall, and lease terms include a monthly water/sewer charge that generally covers those expenses. The property is situated on a 0.1364-acre lot in Millville, New Jersey, within Cumberland County.
Key Highlights
- Two‑unit duplex with 2‑bedroom lower residence and 3‑bedroom upper residence
- 1,804 square feet on a 0.1364‑acre lot
- Separate electric and gas meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,597
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,940
$431.9K
Cap Rate 7%
$308,529
$308.5K
Cap Rate 9%
$239,967
$240.0K
Market Conditions
NOI Build-Up for 1,804 SF
Gross rent
$42.0K $23.28/SF
− Vacancy
−$2.7K −$1.51/SF
EGI
$39.3K $21.77/SF
− OpEx
−$17.7K −$9.80/SF
NOI
$21.6K $11.97/SF
Area
Cumberland County, NJ
Vacancy
6.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,940
Cap Rate 7%
$308,529
Cap Rate 9%
$239,967
Alternative Uses
Best Use
Multifamily LT 5
$335.2K
$293.3K – $391.0K
NOI $23,461 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$308.5K
$270.0K – $360.0K
NOI $21,597 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,611 @ 7.0% cap · market cap 75.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
715
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-unit residential income property with distinct utility metering and annual leases in place.
Where is this duplex located?
The property is located at 419 E MULBERRY Street Millville, NJ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑unit duplex with 2‑bedroom lower residence and 3‑bedroom upper residence; 1,804 square feet on a 0.1364‑acre lot; Separate electric and gas meters for each unit
