Partially Renovated Duplex with Unit
New
For Sale
$370,000
104 UNION AVE, Stratford, NJ 08084
Two-level layout includes in-progress kitchens and bathrooms, added ductwork, and a new electrical line serving the second floor.
Property Size1,734 SF
Price / SF$213.38
Days on Market2
Property Features for 104 UNION AVE
General Information
Standard status
Active
Size
1,734 SF
Property subtype
Multi-family
Property Condition
Severity
Major Repairs Needed
Evidence
not currently habitable
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR, 1 x 2BR
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
Century 21 Mack Morris Iris Lurie
(732) 536-2228
Listed By:
Constance Richmond · License #1862181
(732) 904-6678
Source:
Palmerharned
Added: Sep 11
Last Checked: Sep 12 at 6:28AM
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 Century 21 Mack Morris Iris Lurie
Investment Insights
Based on property information with market context.
Located at 104 Union Ave in Stratford, this 1,734-square-foot duplex is offered as an active renovation project. The first-floor residence is configured with 4 bedrooms, while the second-floor unit has 2 bedrooms. Work completed to date includes some flooring, selected replacement windows, drywall, ductwork for Central Air, and a new electrical line for the second floor. Kitchens and bathrooms remain in progress.
The property is not currently habitable and will transfer strictly as-is. Cash or 203K financing only. Its two-unit configuration and partially completed improvements provide a defined scope for completing the existing residential layout.
The property is not currently habitable and will transfer strictly as-is. Cash or 203K financing only. Its two-unit configuration and partially completed improvements provide a defined scope for completing the existing residential layout.
Key Highlights
- 1,734‑square‑foot duplex with two residential units
- 4‑bedroom first‑floor unit and 2‑bedroom second‑floor unit
- Renovation underway with kitchens and bathrooms in progress
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
$19,721
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
5.33%
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%
$394,420
$394.4K
Cap Rate 7%
$281,729
$281.7K
Cap Rate 9%
$219,122
$219.1K
Market Conditions
NOI Build-Up for 1,734 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
$29.8K $17.16/SF
− Vacancy
−$1.6K −$0.91/SF
EGI
$28.2K $16.25/SF
− OpEx
−$8.5K −$4.87/SF
NOI
$19.7K $11.37/SF
Area
Camden County, NJ
Vacancy
5.32%
Lease Rate
$17.16 /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%
$394,420
Cap Rate 7%
$281,729
Cap Rate 9%
$219,122
Alternative Uses
Best Use
Multifamily LT 5
$281.7K
$246.5K – $328.7K
NOI $19,721 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$251.6K
$220.1K – $293.5K
NOI $17,610 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$439.7K
$384.7K – $513.0K
NOI $30,777 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
993
Businesses Nearby
Explore this area
Business Placement
Demographics for 08084, NJ
6,981
Population
2,574
Households
2.7
Avg Household Size
41
Median Age
32%
College-Educated
92%
High-School Grad
1.6 sq mi
ZIP Area
4,363
Density / Sq Mi
$100,735
Median Household Income
$52,002
Median Earnings
$1,172
Median Rent
$238,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level layout includes in-progress kitchens and bathrooms, added ductwork, and a new electrical line serving the second floor.
Where is this duplex located?
The property is located at 104 UNION AVE Stratford, NJ.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 1,734‑square‑foot duplex with two residential units; 4‑bedroom first‑floor unit and 2‑bedroom second‑floor unit; Renovation underway with kitchens and bathrooms in progress
