Building Details

Year Built 1920

Listing Agency: HomeSmart First Advantage

Listed By: David Kandel · License #1969173 Show Phone

Source: Obrienrealtyllc

Added: Aug 7 Changed: Oct 12 Last Checked: Oct 15 at 12:58AM

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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 HomeSmart First Advantage

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Investment Insights

Based on property information with market context.

This 2,048-square-foot duplex, built in 1920, includes two residential units with separate entrances and distinct layouts. The first-floor residence has two bedrooms and one bathroom and is currently vacant. The second-floor unit provides three bedrooms and one bathroom and is occupied through 5/31/2026.

Utility service is divided between the units, except for water and sewer. A basement offers additional space with exterior access only, and gas service connection is available in the street. The property is being conveyed in strictly as-is condition, with the buyer responsible for certifications, inspections, and repairs. Located at 104 N Franklin St in Landisville, New Jersey.

Key Highlights

• 2,048‑square‑foot duplex built in 1920
• First‑floor 2BR/1BA unit is currently vacant
• Second‑floor 3BR/1BA unit occupied through 5/31/2026

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,323

Cap Rate

6.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$466,460 $466.5K

Cap Rate 7%

$333,186 $333.2K

Cap Rate 9%

$259,144 $259.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,048 SF

Gross rent

$35.6K $17.40/SF

− Vacancy

−$2.3K −$1.13/SF

EGI

$33.3K $16.27/SF

− OpEx

−$10.0K −$4.88/SF

NOI

$23.3K $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 Rate 5%

$466,460

Cap Rate 7%

$333,186

Cap Rate 9%

$259,144

Alternative Uses

Best Use

Multifamily LT 5

$333.2K

$291.5K – $388.7K (±1% cap)

NOI $23,323 @ 7.0% cap · market cap 6.22%

Second Best

Apartment 5plus

$292.9K

$256.3K – $341.7K (±1% cap)

NOI $20,500 @ 7.0% cap · market cap 5.47%

Theoretical Best

Warehouse

$762.7K

$667.3K – $889.8K (±1% cap)

NOI $53,386 @ 7.0% cap · market cap 14.24%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Spa & Massage Center Hair Salon Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

124

Businesses Nearby

Explore this area Business Placement

Demographics for 08326, NJ

1,600

Population

539

Households

3

Avg Household Size

39

Median Age

27%

College-Educated

91%

High-School Grad

3.2 sq mi

ZIP Area

500

Density / Sq Mi

$74,891

Median Household Income

$60,550

Median Earnings

$1,490

Median Rent

$244,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - Two residential units offer distinct bedroom configurations and separate utility service, with water and sewer shared.

Where is this duplex located?

The property is located at 104 N Franklin St Landisville, NJ.

What is the asking price?

The asking price for this property is $375,000.

What are key features of this property?

This property features: 2,048‑square‑foot duplex built in 1920; First‑floor 2BR/1BA unit is currently vacant; Second‑floor 3BR/1BA unit occupied through 5/31/2026