Value-Add Duplex
For Sale
$245,000
Pending
1244 Garry Avenue, Vineland, NJ 08361
Two-unit duplex with general updating needs and a new septic system required.
Property Size1,728 SF
Days on Market253
Property Features for 1244 Garry Avenue
General Information
Standard status
Pending
Size
1,728 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Fee Simple
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,659
Amenities
No
2+ Access Exits
No Pool
Building Details
Year Built
1955
Listing Agency:
EXP Realty, LLC
(856) 333-3760
Listed By:
Carlo Drogo Sr. · License #1756500
(856) 333-3760
Source:
Compass
Added: Dec 1, 2025
Changed: Aug 7
Last Checked: Aug 10 at 10:18AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This duplex offers two separate units with existing tenant occupancy. Unit A is a 2-bedroom unit, and Unit B is a 1-bedroom unit. The property is described as needing general updating and a new septic system, and it is priced accordingly.
The listing is located in Vineland, New Jersey, in Cumberland County, within the City of Vineland Board of Education school district.
The opportunity is positioned as a value-add investment for qualified buyers, with tenants currently in place under the terms noted in the listing.
The listing is located in Vineland, New Jersey, in Cumberland County, within the City of Vineland Board of Education school district.
The opportunity is positioned as a value-add investment for qualified buyers, with tenants currently in place under the terms noted in the listing.
Key Highlights
- Duplex built in 1955 with Unit‑A (2 bed) and Unit‑B (1 bed)
- Unit‑A is rented for $950 per month; Unit‑B is rented for $750 per month
- General updating needed; new septic system required
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
$22,472
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
9.17%
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%
$449,440
$449.4K
Cap Rate 7%
$321,029
$321.0K
Cap Rate 9%
$249,689
$249.7K
Market Conditions
NOI Build-Up for 1,728 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
$34.2K $19.80/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$32.1K $18.58/SF
− OpEx
−$9.6K −$5.57/SF
NOI
$22.5K $13.00/SF
Area
Cumberland County, NJ
Vacancy
6.17%
Lease Rate
$19.80 /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%
$449,440
Cap Rate 7%
$321,029
Cap Rate 9%
$249,689
Alternative Uses
Best Use
Multifamily LT 5
$321.0K
$280.9K – $374.5K
NOI $22,472 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$295.5K
$258.6K – $344.8K
NOI $20,687 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$2.59M
$2.27M – $3.03M
NOI $181,622 @ 7.0% cap · market cap 74.13%
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
73
Businesses Nearby
Explore this area
Business Placement
Demographics for 08361, NJ
18,669
Population
6,760
Households
2.8
Avg Household Size
44
Median Age
39%
College-Educated
87%
High-School Grad
30.3 sq mi
ZIP Area
616
Density / Sq Mi
$103,482
Median Household Income
$52,379
Median Earnings
$1,407
Median Rent
$271,300
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 - Two-unit duplex with general updating needs and a new septic system required.
Where is this duplex located?
The property is located at 1244 Garry Avenue Vineland, NJ.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Duplex built in 1955 with Unit‑A (2 bed) and Unit‑B (1 bed); Unit‑A is rented for $950 per month; Unit‑B is rented for $750 per month; General updating needed; new septic system required
