Duplex with Individual
For Sale
$285,000
100 Chestnut St, Millville, NJ 08332
Two separate residences include eat-in kitchens, storage areas, and practical everyday layouts.
Property Size1,928 SF
Price / SF$147.82
Days on Market352
Property Features for 100 Chestnut St
General Information
Standard status
Active
Size
1,928 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,608
Amenities
in-unit laundry
storage
Listing Agency:
Swink Realty
(856) 765-3999
Listed By:
Abrianna Elena Boston · License #2187237
(856) 305-9348
Source:
Exprealty
Added: Sep 21, 2025
Changed: Sep 4
Last Checked: Sep 7 at 12:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Swink Realty
Investment Insights
Based on property information with market context.
This 1,928-square-foot duplex contains two separate residences, each arranged with 2 bedrooms and 1.5 bathrooms. Both units include an eat-in kitchen, comfortable living areas, generously sized bedrooms, storage, and dedicated laundry facilities. The configuration provides distinct living spaces within one residential income property and supports rental use.
The property is located at 100 Chestnut St in Millville, near local shops, restaurants, transportation, and major routes. Its position off West Main St connects the property with services and everyday destinations in the surrounding area. The sale is offered on an As-Is basis.
The property is located at 100 Chestnut St in Millville, near local shops, restaurants, transportation, and major routes. Its position off West Main St connects the property with services and everyday destinations in the surrounding area. The sale is offered on an As-Is basis.
Key Highlights
- Two‑unit duplex totaling 1,928 square feet
- Each unit offers 2 bedrooms and 1.5 bathrooms
- Individual laundry facilities provided for both units
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
$25,073
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%
$501,460
$501.5K
Cap Rate 7%
$358,186
$358.2K
Cap Rate 9%
$278,589
$278.6K
Market Conditions
NOI Build-Up for 1,928 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
$38.2K $19.80/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$35.8K $18.58/SF
− OpEx
−$10.7K −$5.57/SF
NOI
$25.1K $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%
$501,460
Cap Rate 7%
$358,186
Cap Rate 9%
$278,589
Alternative Uses
Best Use
Multifamily LT 5
$358.2K
$313.4K – $417.9K
NOI $25,073 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$329.7K
$288.5K – $384.7K
NOI $23,082 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$2.89M
$2.53M – $3.38M
NOI $202,644 @ 7.0% cap · market cap 71.10%
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
138
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences include eat-in kitchens, storage areas, and practical everyday layouts.
Where is this duplex located?
The property is located at 100 Chestnut St Millville, NJ.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,928 square feet; Each unit offers 2 bedrooms and 1.5 bathrooms; Individual laundry facilities provided for both units
