Side-by-Side Duplex with 3BR
For Sale
$459,000
1305 Matthews Avenue, Mays Landing, NJ 08330
Two tenant-occupied units each offer 3 bedrooms, a full bath, and eat-in kitchen, with hardwood floors throughout.
Property Size2,600 SF
Price / SF$176.54
Days on Market193
Property Features for 1305 Matthews Avenue
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi-family
Occupancy
100%
Building Details
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Century 21 Action Plus Realty - Northfield
Listed By:
HAMED PAYANDEHFAR · License #1434018
(609) 703-1077
Source:
Actionplusrealty
Added: Apr 19
Changed: Oct 27
Last Checked: Oct 26 at 4:48PM
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 Action Plus Realty - Northfield
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This side-by-side two-story duplex features two residential units, each with three bedrooms and one full bathroom, along with a spacious living room, dining room, and an eat-in kitchen that includes a pantry and additional storage closet. Both units include an electric range and refrigerator, and both have six new windows and hardwood flooring throughout, with hardwood underneath carpeting.
Unit B has been updated with a new kitchen and a renovated bathroom. The property sits on a generously sized lot that extends from street to street, providing ample outdoor space. The units are currently tenant-occupied, and a minimum of 24 hours’ notice is required for all showings.
Conveniently located near shopping, schools, and major roadways, the duplex offers a straightforward configuration for either owner-occupants or investors seeking an income-producing property.
Unit B has been updated with a new kitchen and a renovated bathroom. The property sits on a generously sized lot that extends from street to street, providing ample outdoor space. The units are currently tenant-occupied, and a minimum of 24 hours’ notice is required for all showings.
Conveniently located near shopping, schools, and major roadways, the duplex offers a straightforward configuration for either owner-occupants or investors seeking an income-producing property.
Key Highlights
- Side‑by‑side two‑story duplex with 2 tenant‑occupied units
- Each unit offers 3 bedrooms, 1 full bathroom, living room, dining room, and eat‑in kitchen with pantry
- Both units include an electric range and refrigerator
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,610
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$592,200
$592.2K
Cap Rate 7%
$423,000
$423.0K
Cap Rate 9%
$329,000
$329.0K
Market Conditions
NOI Build-Up for 2,600 SF
Gross rent
$45.2K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$42.3K $16.27/SF
− OpEx
−$12.7K −$4.88/SF
NOI
$29.6K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$592,200
Cap Rate 7%
$423,000
Cap Rate 9%
$329,000
Alternative Uses
Best Use
Multifamily LT 5
$423.0K
$370.1K – $493.5K
NOI $29,610 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$371.8K
$325.3K – $433.8K
NOI $26,025 @ 7.0% cap · market cap 5.67%
Theoretical Best
Warehouse
$968.2K
$847.2K – $1.13M
NOI $67,776 @ 7.0% cap · market cap 14.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
283
Businesses Nearby
Explore this area
Business Placement
Demographics for 08330, NJ
29,548
Population
12,800
Households
2.3
Avg Household Size
41
Median Age
31%
College-Educated
94%
High-School Grad
127.4 sq mi
ZIP Area
232
Density / Sq Mi
$82,981
Median Household Income
$40,880
Median Earnings
$1,576
Median Rent
$230,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two tenant-occupied units each offer 3 bedrooms, a full bath, and eat-in kitchen, with hardwood floors throughout.
Where is this duplex located?
The property is located at 1305 Matthews Avenue Mays Landing, NJ.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Side‑by‑side two‑story duplex with 2 tenant‑occupied units; Each unit offers 3 bedrooms, 1 full bathroom, living room, dining room, and eat‑in kitchen with pantry; Both units include an electric range and refrigerator
