Two-Unit Duplex Income
For Sale
$250,000
109 E Pine St, Millville, NJ 08332
Two-unit duplex offered as-is with two-bedroom, one-bath units and in-place tenants generating rental income.
Property Size1,296 SF
Price / SF$192.90
Days on Market79
Property Features for 109 E Pine St
General Information
Standard status
Active
Size
1,296 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1917
Listing Agency:
Keller Williams - Main Street
Listed By:
Carol Terrell · License #0227464
(856) 534-4238
Source:
Bernadetteaugello
Added: Jul 20
Changed: Oct 2
Last Checked: Oct 5 at 10:45PM
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 - Main Street
Investment Insights
Based on property information with market context.
This two-unit duplex offers two bedrooms and one bathroom in each unit. The seller is offering the property in as-is condition, with the units described as up to date with Township Certificates of Occupancy where necessary. The property is being presented with tenants already in place and producing rental income.
The duplex is located at 109 East Pine Street in Millville, New Jersey, in Cumberland County. The listing notes transportation access with a bus stop less than one mile away, and the area is described as convenient to local parks, dams, bridges, eateries, and entertainment.
Prospective buyers should plan to complete their own due diligence prior to purchase, and the seller requests that the buyer use the seller’s title company. The property is also being marketed as part of a larger portfolio, and the listing indicates buyers may be eligible for potential package pricing if purchasing multiple properties.
The duplex is located at 109 East Pine Street in Millville, New Jersey, in Cumberland County. The listing notes transportation access with a bus stop less than one mile away, and the area is described as convenient to local parks, dams, bridges, eateries, and entertainment.
Prospective buyers should plan to complete their own due diligence prior to purchase, and the seller requests that the buyer use the seller’s title company. The property is also being marketed as part of a larger portfolio, and the listing indicates buyers may be eligible for potential package pricing if purchasing multiple properties.
Key Highlights
- Two‑unit duplex built in 1917 with two bedrooms and one bathroom per unit
- Tenants are already in place, generating rental income
- Reported annual NOI of approximately $25,112.28
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,854
Cap Rate
6.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$337,080
$337.1K
Cap Rate 7%
$240,771
$240.8K
Cap Rate 9%
$187,267
$187.3K
Market Conditions
NOI Build-Up for 1,296 SF
Gross rent
$25.7K $19.80/SF
− Vacancy
−$1.6K −$1.22/SF
EGI
$24.1K $18.58/SF
− OpEx
−$7.2K −$5.57/SF
NOI
$16.9K $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 Rate 5%
$337,080
Cap Rate 7%
$240,771
Cap Rate 9%
$187,267
Alternative Uses
Best Use
Multifamily LT 5
$240.8K
$210.7K – $280.9K
NOI $16,854 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$221.6K
$193.9K – $258.6K
NOI $15,515 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,217 @ 7.0% cap · market cap 54.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
667
Businesses Nearby
Explore this area
Business Placement
Demographics for 08332, NJ
35,396
Population
15,063
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
86%
High-School Grad
104.5 sq mi
ZIP Area
339
Density / Sq Mi
$65,825
Median Household Income
$39,595
Median Earnings
$1,223
Median Rent
$195,900
Median Home Value
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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-unit duplex offered as-is with two-bedroom, one-bath units and in-place tenants generating rental income.
Where is this duplex located?
The property is located at 109 E Pine St Millville, NJ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1917 with two bedrooms and one bathroom per unit; Tenants are already in place, generating rental income; Reported annual NOI of approximately $25,112.28
