Vacant Brick
For Sale
$323,900
48 N MYRTLE Street, Vineland, NJ 08360
Multi-Family, VINELAND, NJ
Property Size1,440 SF
Lot Size0.16 Acres
Price / SF$224.93
Days on Market364
Property Features for 48 N MYRTLE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Elementary school district
CITY OF VINELAND BOARD OF EDUCATION
Middle school district
CITY OF VINELAND BOARD OF EDUCATION
High school district
CITY OF VINELAND BOARD OF EDUCATION
Standard status
Active
Size
1,440 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
4842
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1945
Number of units
1
Building materials
Brick
Architectural style
Other
Listing Agency:
Keller Williams Prime Realty · Keller Williams Realty
(856) 362-5072
Listed By:
Lakesha N. White · License #1866643
(609) 605-4709
Added: Sep 11, 2025
Changed: Aug 30
Last Checked: Sep 9 at 9:06PM
MLS# NJCB2026316
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 detached duplex at 48 N Myrtle Street contains 1,440 square feet on a 0.1593-acre lot and was built in 1945 with brick construction. The front residence has two bedrooms, 1.5 bathrooms, a living room, dining room, and basement. It includes oil heating, central air, and leased solar panels; gas is available at the property.
The rear residence provides one bedroom, one full bathroom, and a lower level that may be finished. Heating and air-conditioning installation for this unit remains part of the renovation work. Both units are vacant, and the property is offered as-is, with the buyer responsible for repairs, inspections, and certifications. Driveway parking is included.
The rear residence provides one bedroom, one full bathroom, and a lower level that may be finished. Heating and air-conditioning installation for this unit remains part of the renovation work. Both units are vacant, and the property is offered as-is, with the buyer responsible for repairs, inspections, and certifications. Driveway parking is included.
Key Highlights
- Detached brick duplex with 1,440 SF on a 0.1593‑acre lot
- Two vacant units, including a 2‑bedroom front unit and 1‑bedroom rear unit
- Front unit includes 1.5 bathrooms, living and dining rooms, and a basement
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
$18,727
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
5.78%
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%
$374,540
$374.5K
Cap Rate 7%
$267,529
$267.5K
Cap Rate 9%
$208,078
$208.1K
Market Conditions
NOI Build-Up for 1,440 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
$28.5K $19.80/SF
− Vacancy
−$1.8K −$1.22/SF
EGI
$26.8K $18.58/SF
− OpEx
−$8.0K −$5.57/SF
NOI
$18.7K $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%
$374,540
Cap Rate 7%
$267,529
Cap Rate 9%
$208,078
Alternative Uses
Best Use
Multifamily LT 5
$267.5K
$234.1K – $312.1K
NOI $18,727 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$246.3K
$215.5K – $287.3K
NOI $17,239 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,352 @ 7.0% cap · market cap 46.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Explore this area
Business Placement
Demographics for 08360, NJ
43,043
Population
16,797
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
79%
High-School Grad
44.3 sq mi
ZIP Area
972
Density / Sq Mi
$62,604
Median Household Income
$37,236
Median Earnings
$1,164
Median Rent
$199,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two vacant units offer separate layouts and an as-is renovation opportunity.
Where is this duplex located?
The property is located at 48 N MYRTLE Street Vineland, NJ.
What is the asking price?
The asking price for this property is $323,900.
What are key features of this property?
This property features: Detached brick duplex with 1,440 SF on a 0.1593‑acre lot; Two vacant units, including a 2‑bedroom front unit and 1‑bedroom rear unit; Front unit includes 1.5 bathrooms, living and dining rooms, and a basement
