Building Details

Year built 1920

Floors in Building 2

Number of units 2

Listing Agency: HomeSmart First Advantage Show Phone

Listed By: David Kandel · License #1969173 Show Phone

Added: Apr 29 Changed: Jul 17 Last Checked: Aug 23 at 3:06PM

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MLS# 22612125

Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This duplex in Landisville, NJ, presents an investment opportunity. Unit 104A, located on the first floor, is a 2-bedroom, 1-bathroom unit that is currently vacant; the prior rent was $1775 per month, with the tenant responsible for utilities. Unit 104B, situated on the second floor, features 3 bedrooms and 1 bathroom and is currently rented for $1375 per month, with the tenant vacating on 5/31/2026. The property includes a basement with outside access only. All utilities are separate, except for water and sewer. A gas service connection is available in the street. The lot size is 0.34 acres. The backyard is large. The property is being sold in As-Is condition, with the buyer responsible for all certifications, inspections, and repairs. The property size is 2048 square feet.

Key Highlights

• Duplex: Income‑producing investment opportunity.
• Turn‑key 2BR, 1BA unit (104A) with potential rental income (previously $1775/month).
• Second unit (104B) is a 3BR, 1BA, currently rented at $1375/month until 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.

Lease Details

2

Residential units

Turnkey business

Opportunity

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

190

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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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Income-producing duplex with tenant in place and development potential.

Where is this duplex located?

The property is located at 104 N Franklin Street 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: Duplex: Income‑producing investment opportunity.; Turn‑key 2BR, 1BA unit (104A) with potential rental income (previously $1775/month).; Second unit (104B) is a 3BR, 1BA, currently rented at $1375/month until 5/31/2026.