Side-by-Side Duplex with 3BR
1305 Matthews Avenue Mays Landing, NJ 08330
For Sale
$459,000
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 Market12
Property Features for 1305 Matthews Avenue
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multi-family
Listing Agency:
Century 21 Action Plus Realty - Northfield
(609) 703-1077
Listed By:
HAMED PAYANDEHFAR · License #1434018
Source:
Actionplusrealty
Added: Jul 18
Changed: Jul 29
Last Checked: Jul 29 at 7:20AM
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
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.0k | $30.00 |
| − Vacancy | −$5.9k | −$2.25 |
| EGI | $72.2k | $27.75 |
| − OpEx | −$32.5k | −$12.49 |
| NOI | $39.7k | $15.26 |
2,600 SF · lease $30.00/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$656.4K
$574.3K – $765.8K
NOI $45,946 @ 7.0% cap · market cap 10.01%
Second Best
Apartment 5plus
$566.9K
$496.0K – $661.4K
NOI $39,683 @ 7.0% cap · market cap 8.65%
Theoretical Best
Warehouse
$836.5K
$732.0K – $975.9K
NOI $58,556 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
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
