Renovated Duplex with Rental
New
For Sale
$375,000
433 N DELSEA DRIVE, Clayton, NJ 08312
MULTI_FAMILY - CLAYTON, NJ
Property Size2,150 SF
Price / SF$174.42
Days on Market5
Property Features for 433 N DELSEA DRIVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Elementary school
HERMA SIMMONS
Middle school
CLAYTON M.S.
High school
CLAYTON H.S.
Standard status
Active
Size
2,150 SF
Building Details
Year built
1900
Listing Agency:
BHHS Fox & Roach Washington-Gloucester Home Marketing Center · Berkshire Hathaway HomeServices
Listed By:
Michael J. Carducci · License #8641675
(609) 472-1093
Added: Aug 7
Last Checked: Aug 11 at 6:06AM
MLS# NJGL2076870
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 2,150-square-foot duplex, built in 1900, contains two two-bedroom residences. The vacant unit has been renovated and received fresh interior paint, while the second residence remains occupied by a long-term tenant. Both units have undergone recurring professional pest treatment.
Property improvements include a roof replacement with plywood sheathing and replacement of both hot water heaters in 2018. HVAC work completed in 2019 included a new motor, control board, and additional components on one heating system. Additional work in 2022 and 2024 included exterior landscaping, a Visual Lead-Safe Certificate, bathroom painting in the occupied unit, reconstruction of the rear step with a new threshold and railing, and concrete repairs. The property is located at 433 N Delsea Drive in Clayton, New Jersey.
Property improvements include a roof replacement with plywood sheathing and replacement of both hot water heaters in 2018. HVAC work completed in 2019 included a new motor, control board, and additional components on one heating system. Additional work in 2022 and 2024 included exterior landscaping, a Visual Lead-Safe Certificate, bathroom painting in the occupied unit, reconstruction of the rear step with a new threshold and railing, and concrete repairs. The property is located at 433 N Delsea Drive in Clayton, New Jersey.
Key Highlights
- Two‑bedroom duplex with 2,150 square feet of total building area
- One unit renovated and vacant; the second is occupied by a long‑term tenant
- Roof with plywood sheathing and both hot water heaters replaced in 2018
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
$28,249
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
7.53%
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%
$564,980
$565.0K
Cap Rate 7%
$403,557
$403.6K
Cap Rate 9%
$313,878
$313.9K
Market Conditions
NOI Build-Up for 2,150 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
$42.6K $19.80/SF
− Vacancy
−$2.2K −$1.03/SF
EGI
$40.4K $18.77/SF
− OpEx
−$12.1K −$5.63/SF
NOI
$28.2K $13.14/SF
Area
Gloucester County, NJ
Vacancy
5.20%
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%
$564,980
Cap Rate 7%
$403,557
Cap Rate 9%
$313,878
Alternative Uses
Best Use
Multifamily LT 5
$403.6K
$353.1K – $470.8K
NOI $28,249 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$359.0K
$314.1K – $418.8K
NOI $25,130 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$722.7K
$632.4K – $843.2K
NOI $50,589 @ 7.0% cap · market cap 13.49%
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
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 08312, NJ
8,465
Population
3,558
Households
2.4
Avg Household Size
40
Median Age
22%
College-Educated
93%
High-School Grad
5.5 sq mi
ZIP Area
1,539
Density / Sq Mi
$88,448
Median Household Income
$46,950
Median Earnings
$1,204
Median Rent
$248,000
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 - Two-unit property combines an updated vacant residence with an occupied unit.
Where is this duplex located?
The property is located at 433 N DELSEA DRIVE Clayton, NJ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑bedroom duplex with 2,150 square feet of total building area; One unit renovated and vacant; the second is occupied by a long‑term tenant; Roof with plywood sheathing and both hot water heaters replaced in 2018
