Duplex with Detached
New
For Sale
$650,000
740 MORGAN AVE, Palmyra, NJ 08065
Each residence has its own laundry room and separate gas and electric service.
Property Size3,450 SF
Lot Size0.19 Acres
Price / SF$188.41
Days on Market2
Property Features for 740 MORGAN AVE
General Information
Standard status
Active
Size
3,450 SF
Total Parking Spaces
2
Lot size
0.19 Acres
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 4BR/4.5BA, 1 x 4BR/1BA
Multifamily Units
2
Amenities
fireplace
in-unit laundry
Building Details
Year Built
1920
Buildings
1
Construction
Colonial
Listing Agency:
Keller Williams Realty Monmouth/Ocean
(732) 942-5280
Listed By:
Rana Husein
(732) 510-8847
Source:
360
Added: Sep 26
Last Checked: Sep 26 at 2:33PM
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 Realty Monmouth/Ocean
Investment Insights
Based on property information with market context.
This two-unit residential property dates to 1920 and occupies a 0.19-acre corner lot. One residence has four bedrooms and 4.5 bathrooms; the other has four bedrooms and one full bathroom. A fireplace is located in the main living area, and the unfinished basement provides additional storage space. Each unit has a laundry room with a washer and dryer, its own boiler and hot water heater, and separate gas and electric service. Exterior materials include stone, frame, and vinyl siding.
A detached two-car garage serves the property, with additional on-street parking. Shopping, dining, schools, parks, public transportation, and major highways are nearby.
A detached two-car garage serves the property, with additional on-street parking. Shopping, dining, schools, parks, public transportation, and major highways are nearby.
Key Highlights
- Two residential units: one with 4 bedrooms and 4.5 bathrooms; the other with 4 bedrooms and 1 full bathroom
- Built in 1920 on a 0.19‑acre corner lot
- Separate laundry room, boiler, hot water heater, gas, and electric service for each unit
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
$49,441
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
7.61%
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%
$988,820
$988.8K
Cap Rate 7%
$706,300
$706.3K
Cap Rate 9%
$549,344
$549.3K
Market Conditions
NOI Build-Up for 3,450 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
$74.5K $21.60/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$70.6K $20.47/SF
− OpEx
−$21.2K −$6.14/SF
NOI
$49.4K $14.33/SF
Area
Burlington County, NJ
Vacancy
5.22%
Lease Rate
$21.60 /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%
$988,820
Cap Rate 7%
$706,300
Cap Rate 9%
$549,344
Alternative Uses
Best Use
Multifamily LT 5
$706.3K
$618.0K – $824.0K
NOI $49,441 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$645.5K
$564.8K – $753.1K
NOI $45,187 @ 7.0% cap · market cap 6.95%
Theoretical Best
Warehouse
$7.22M
$6.31M – $8.42M
NOI $505,093 @ 7.0% cap · market cap 77.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Explore this area
Business Placement
Demographics for 08065, NJ
7,438
Population
3,406
Households
2.2
Avg Household Size
42
Median Age
30%
College-Educated
95%
High-School Grad
1.8 sq mi
ZIP Area
4,132
Density / Sq Mi
$85,014
Median Household Income
$51,085
Median Earnings
$1,680
Median Rent
$216,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Each residence has its own laundry room and separate gas and electric service.
Where is this duplex located?
The property is located at 740 MORGAN AVE Palmyra, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two residential units: one with 4 bedrooms and 4.5 bathrooms; the other with 4 bedrooms and 1 full bathroom; Built in 1920 on a 0.19‑acre corner lot; Separate laundry room, boiler, hot water heater, gas, and electric service for each unit
