Renovated Duplex with Bonus
For Sale
$624,990
Pending
114 Walnut Street, Audubon, NJ 08106
Renovated two-unit property with updated systems, private entry, and flexible additional living areas.
Property Size2,380 SF
Days on Market240
Property Features for 114 Walnut Street
General Information
Standard status
Pending
Size
2,380 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Fee Simple
Zoning
R-1
Units
Unit Mix
1 x 4BR/2.5BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$12,091
Amenities
No
Other
No Pool
Above Grade, Below Grade
Building Details
Year Built
1929
Listing Agency:
Keller Williams Realty - Moorestown
(609) 346-6929
Listed By:
Daezonae Jenkins · License #2552069
(609) 346-6929
Source:
Compass
Added: Jan 2
Changed: Aug 29
Last Checked: Aug 29 at 4:49PM
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 Keller Williams Realty - Moorestown
Investment Insights
Based on property information with market context.
This two-unit property at 114 Walnut Street has been renovated with updated systems and modern finishes. The lower residence occupies two levels and includes four bedrooms, two and a half baths, a contemporary kitchen, finished basement space, and a rear addition with access to the yard. The upper residence has a private entrance, three bedrooms, one full bath, and a finished third-floor bonus area suitable for additional household space or a private workspace.
Built in 1929, the property contains 2,380 square feet and is located in Audubon within the Audubon Public Schools district. R-1 zoning and the duplex configuration provide a flexible residential income property with distinct living areas and substantial bedroom capacity across both units.
Built in 1929, the property contains 2,380 square feet and is located in Audubon within the Audubon Public Schools district. R-1 zoning and the duplex configuration provide a flexible residential income property with distinct living areas and substantial bedroom capacity across both units.
Key Highlights
- Two‑unit duplex with 2,380 square feet
- Lower unit offers 4 bedrooms, 2.5 baths, finished basement, and rear addition
- Upper unit includes 3 bedrooms, 1 full bath, and finished third‑floor bonus space
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
$27,068
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
4.33%
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%
$541,360
$541.4K
Cap Rate 7%
$386,686
$386.7K
Cap Rate 9%
$300,756
$300.8K
Market Conditions
NOI Build-Up for 2,380 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
$40.8K $17.16/SF
− Vacancy
−$2.2K −$0.91/SF
EGI
$38.7K $16.25/SF
− OpEx
−$11.6K −$4.87/SF
NOI
$27.1K $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%
$541,360
Cap Rate 7%
$386,686
Cap Rate 9%
$300,756
Alternative Uses
Best Use
Multifamily LT 5
$386.7K
$338.4K – $451.1K
NOI $27,068 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$345.3K
$302.1K – $402.8K
NOI $24,170 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$603.5K
$528.0K – $704.0K
NOI $42,242 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,154
Businesses Nearby
Explore this area
Business Placement
Demographics for 08106, NJ
9,698
Population
3,996
Households
2.4
Avg Household Size
43
Median Age
43%
College-Educated
96%
High-School Grad
1.6 sq mi
ZIP Area
6,061
Density / Sq Mi
$107,539
Median Household Income
$61,139
Median Earnings
$1,083
Median Rent
$286,500
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?
Duplex - Renovated two-unit property with updated systems, private entry, and flexible additional living areas.
Where is this duplex located?
The property is located at 114 Walnut Street Audubon, NJ.
What is the asking price?
The asking price for this property is $624,990.
What are key features of this property?
This property features: Two‑unit duplex with 2,380 square feet; Lower unit offers 4 bedrooms, 2.5 baths, finished basement, and rear addition; Upper unit includes 3 bedrooms, 1 full bath, and finished third‑floor bonus space
