Two-Unit
For Sale
$250,000
1011 E Main St, Millville, NJ 08332
Occupied residences offer two bedrooms and one bathroom per unit.
Property Size1,342 SF
Price / SF$186.29
Days on Market41
Property Features for 1011 E Main St
General Information
Standard status
Active
Size
1,342 SF
Property subtype
Residential Income
Net Operating Income
$21,755
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,102
Listing Agency:
Keller Williams - Main Street
(856) 534-4238
Listed By:
Carol Terrell · License #0227464
(856) 534-4238
Source:
Exprealty
Added: Jul 3
Changed: Aug 9
Last Checked: Aug 12 at 11:34AM
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 - Main Street
Investment Insights
Based on property information with market context.
This two-unit duplex includes matching residential layouts, with two bedrooms and one bathroom in each unit. Tenants are already in place, providing an established occupancy profile for the property. The units are being offered in their current condition, and the sale is as-is.
Located at 1011 E Main St in Millville, New Jersey, the property is near local parks, dams, bridges, eateries, and entertainment. The listing also notes up-to-date TWP CO's and housing where necessary. Buyer due diligence is required before purchase.
Located at 1011 E Main St in Millville, New Jersey, the property is near local parks, dams, bridges, eateries, and entertainment. The listing also notes up-to-date TWP CO's and housing where necessary. Buyer due diligence is required before purchase.
Key Highlights
- Two‑unit duplex with two bedrooms and one bathroom in each unit
- Tenants already in place
- Up‑to‑date TWP CO's and housing where necessary
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
$17,452
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
6.98%
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%
$349,040
$349.0K
Cap Rate 7%
$249,314
$249.3K
Cap Rate 9%
$193,911
$193.9K
Market Conditions
NOI Build-Up for 1,342 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
$26.6K $19.80/SF
− Vacancy
−$1.6K −$1.22/SF
EGI
$24.9K $18.58/SF
− OpEx
−$7.5K −$5.57/SF
NOI
$17.5K $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%
$349,040
Cap Rate 7%
$249,314
Cap Rate 9%
$193,911
Alternative Uses
Best Use
Multifamily LT 5
$249.3K
$218.2K – $290.9K
NOI $17,452 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$229.5K
$200.8K – $267.8K
NOI $16,066 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$2.02M
$1.76M – $2.35M
NOI $141,052 @ 7.0% cap · market cap 56.42%
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
667
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 - Occupied residences offer two bedrooms and one bathroom per unit.
Where is this duplex located?
The property is located at 1011 E Main St 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 two bedrooms and one bathroom in each unit; Tenants already in place; Up‑to‑date TWP CO's and housing where necessary
