Two-Unit Duplex Income
For Sale
$299,900
Pending
639 State St, Camden, NJ 08102
Legal two-unit duplex offering two 3-bedroom residences with hardwood floors, tiled baths, and in-unit appliances.
Property Size2,568 SF
Lot Size0.03 Acres
Days on Market533
Property Features for 639 State St
General Information
Standard status
Pending
Size
2,568 SF
Lot size
0.03 Acres
Property subtype
Multi-Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Amenities
hardwood floors
ceramic tiled baths
breakfast bar with granite tops
dishwasher
range
french door refrigerator
washer and dryer
front porch
fenced rear yard
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
KW Empower
Listed By:
Nathan S Naness · License #1643272
(267) 847-9562
Source:
Viewmarylandhomesforsale
Added: Mar 26, 2025
Changed: Sep 8
Last Checked: Aug 25 at 8:06AM
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 KW Empower
Investment Insights
Based on property information with market context.
This legal two-unit duplex is configured with two separate 3-bedroom units. Interiors feature hardwood floors throughout, ceramic tiled baths, and breakfast bars with granite tops in each unit. Each unit includes a dishwasher, range, French door refrigerator, and washer and dryer. The property also offers a nice front porch and a fenced-in rear yard, with a 16-by-80-foot lot noted in the listing.
The property is located in Camden County’s Camden City area near bus service, with an airport less than 10 miles away, according to the listing. The listing agent notes proximity to two new Camden parks.
The duplex layout is designed to support rental income, with the listing providing monthly rents by unit and noting it is easy to see.
The property is located in Camden County’s Camden City area near bus service, with an airport less than 10 miles away, according to the listing. The listing agent notes proximity to two new Camden parks.
The duplex layout is designed to support rental income, with the listing providing monthly rents by unit and noting it is easy to see.
Key Highlights
- Legal two‑unit duplex with 3 bedrooms in each unit
- Monthly rent reported as $1,700 for one unit and $1,300 for the other
- Hardwood floors throughout; ceramic tiled baths in both units
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
$26,079
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
8.70%
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%
$521,580
$521.6K
Cap Rate 7%
$372,557
$372.6K
Cap Rate 9%
$289,767
$289.8K
Market Conditions
NOI Build-Up for 2,568 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
$50.2K $19.56/SF
− Vacancy
−$2.8K −$1.10/SF
EGI
$47.4K $18.46/SF
− OpEx
−$21.3K −$8.31/SF
NOI
$26.1K $10.16/SF
Area
Camden County, NJ
Vacancy
5.60%
Lease Rate
$19.56 /SF/Yr
Expense Ratio
45.00%
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%
$521,580
Cap Rate 7%
$372,557
Cap Rate 9%
$289,767
Alternative Uses
Best Use
Multifamily LT 5
$417.2K
$365.1K – $486.8K
NOI $29,206 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$372.6K
$326.0K – $434.7K
NOI $26,079 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$651.1K
$569.7K – $759.7K
NOI $45,579 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
936
Businesses Nearby
Explore this area
Business Placement
Demographics for 08102, NJ
8,413
Population
3,387
Households
2.5
Avg Household Size
33
Median Age
14%
College-Educated
70%
High-School Grad
1.0 sq mi
ZIP Area
8,413
Density / Sq Mi
$30,895
Median Household Income
$22,171
Median Earnings
$1,057
Median Rent
$79,500
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 - Legal two-unit duplex offering two 3-bedroom residences with hardwood floors, tiled baths, and in-unit appliances.
Where is this duplex located?
The property is located at 639 State St Camden, NJ.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Legal two‑unit duplex with 3 bedrooms in each unit; Monthly rent reported as $1,700 for one unit and $1,300 for the other; Hardwood floors throughout; ceramic tiled baths in both units
