Duplex with Rental
New
For Sale
$414,999
1009 HESSIAN, West Deptford, NJ 08093
Two apartments offer distinct bedroom configurations, with an additional garage rented separately.
Property Size1,568 SF
Price / SF$264.67
Days on Market4
Property Features for 1009 HESSIAN
General Information
Standard status
Active
Size
1,568 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$46,800
Highway Access
Yes
Building Details
Year Built
1940
Listing Agency:
Keller Williams Realty
(856) 321-1212
Listed By:
Anthony P calabrese Jr. · License #2299149
(609) 501-9289
Source:
Cummingsrealtors
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 8:13AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
Built in 1940, this duplex contains two apartments: a first-floor residence with 3 bedrooms and 1 bathroom, and a second-floor residence with 2 bedrooms and 1 bathroom. A garage is also rented separately, providing another rental component. The property is described as being in good overall condition.
The property sits just off I-295, with access to major roads, shopping, dining, and surrounding areas.
The property sits just off I-295, with access to major roads, shopping, dining, and surrounding areas.
Key Highlights
- Two apartments: 3‑bedroom, 1‑bath first‑floor unit and 2‑bedroom, 1‑bath second‑floor unit
- Separately rented garage adds a distinct rental component
- Built in 1940
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
$20,602
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
4.96%
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%
$412,040
$412.0K
Cap Rate 7%
$294,314
$294.3K
Cap Rate 9%
$228,911
$228.9K
Market Conditions
NOI Build-Up for 1,568 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
$31.0K $19.80/SF
− Vacancy
−$1.6K −$1.03/SF
EGI
$29.4K $18.77/SF
− OpEx
−$8.8K −$5.63/SF
NOI
$20.6K $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%
$412,040
Cap Rate 7%
$294,314
Cap Rate 9%
$228,911
Alternative Uses
Best Use
Multifamily LT 5
$294.3K
$257.5K – $343.4K
NOI $20,602 @ 7.0% cap · market cap 4.96%
Second Best
Apartment 5plus
$261.8K
$229.1K – $305.5K
NOI $18,327 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$527.1K
$461.2K – $614.9K
NOI $36,895 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
Explore this area
Business Placement
Demographics for 08093, NJ
9,933
Population
4,473
Households
2.2
Avg Household Size
39
Median Age
22%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,483
Density / Sq Mi
$70,257
Median Household Income
$41,051
Median Earnings
$1,230
Median Rent
$192,800
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 apartments offer distinct bedroom configurations, with an additional garage rented separately.
Where is this duplex located?
The property is located at 1009 HESSIAN West Deptford, NJ.
What is the asking price?
The asking price for this property is $414,999.
What are key features of this property?
This property features: Two apartments: 3‑bedroom, 1‑bath first‑floor unit and 2‑bedroom, 1‑bath second‑floor unit; Separately rented garage adds a distinct rental component; Built in 1940
