Three-Unit Multifamily
For Sale
$395,000
102 Saint Louis Avenue, Egg Harbor City, NJ 08215
One of the three units is leased, with the property offered in its current as-is, where-is condition.
Property Size2,984 SF
Days on Market112
Property Features for 102 Saint Louis Avenue
General Information
Standard status
Active
Size
2,984 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,636
Building Details
Building Size
2,984 SF
Year Built
1910
Units
3
Listing Agency:
Jersey Property Group Realty
(732) 800-1767
Listed By:
Donna Mancuso · License #0675353
(732) 800-1767
Source:
Michaelfraulo
Added: May 11
Changed: Aug 28
Last Checked: Aug 29 at 10:17AM
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 Jersey Property Group Realty
Investment Insights
Based on property information with market context.
This three-unit multifamily property was built in 1910 and includes one currently leased unit. The property is being conveyed as-is, where-is, without seller representations or warranties regarding its condition or compliance.
Located at 102 Saint Louis Avenue in Egg Harbor City, New Jersey, the property requires buyer-led due diligence, inspections, and review of applicable municipal requirements under New Jersey guidelines.
Located at 102 Saint Louis Avenue in Egg Harbor City, New Jersey, the property requires buyer-led due diligence, inspections, and review of applicable municipal requirements under New Jersey guidelines.
Key Highlights
- Three‑unit multifamily property
- Built in 1910
- One of 3 units is leased
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
$33,983
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
8.60%
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%
$679,660
$679.7K
Cap Rate 7%
$485,471
$485.5K
Cap Rate 9%
$377,589
$377.6K
Market Conditions
NOI Build-Up for 2,984 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
$51.9K $17.40/SF
− Vacancy
−$3.4K −$1.13/SF
EGI
$48.5K $16.27/SF
− OpEx
−$14.6K −$4.88/SF
NOI
$34.0K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /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%
$679,660
Cap Rate 7%
$485,471
Cap Rate 9%
$377,589
Alternative Uses
Best Use
Multifamily LT 5
$485.5K
$424.8K – $566.4K
NOI $33,983 @ 7.0% cap · market cap 8.60%
Second Best
Apartment 5plus
$426.7K
$373.4K – $497.8K
NOI $29,869 @ 7.0% cap · market cap 7.56%
Theoretical Best
Warehouse
$1.11M
$972.3K – $1.30M
NOI $77,786 @ 7.0% cap · market cap 19.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
383
Businesses Nearby
Explore this area
Business Placement
Demographics for 08215, NJ
14,092
Population
5,813
Households
2.4
Avg Household Size
45
Median Age
23%
College-Educated
92%
High-School Grad
124.1 sq mi
ZIP Area
114
Density / Sq Mi
$84,630
Median Household Income
$46,680
Median Earnings
$1,525
Median Rent
$266,500
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?
Triplex - One of the three units is leased, with the property offered in its current as-is, where-is condition.
Where is this triplex located?
The property is located at 102 Saint Louis Avenue Egg Harbor City, NJ.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Three‑unit multifamily property; Built in 1910; One of 3 units is leased
