Building Details

Year Built 1920

Listing Agency: HomeSmart First Advantage d***@gmail.com Show Phone

Listed By: David Kandel · License #1969173

Source: Obrienrealtyllc

Added: Aug 7 Changed: Aug 29 Last Checked: Aug 30 at 7:54PM

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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 = 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

$23,323

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

6.22%

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%

$466,460 $466.5K

Cap Rate 7%

$333,186 $333.2K

Cap Rate 9%

$259,144 $259.1K

Market Conditions

NOI Build-Up for 2,048 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

$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 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%

$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.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Real Estate Agency Carpet & Flooring Store Cafe & Coffee Shop Grocery & Convenience Store

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

Questions? Ask Rey

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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