Duplex-Style Property with Two Living
New
For Sale
$599,000
1409 - 1411 Loretta Ave, Mays Landing, NJ 08330
MULTI-FAMILY, Weymouth Township, NJ
Property Size2,184 SF
Lot Size0.85 Acres
Price / SF$274.27
Days on Market3
Property Features for 1409 - 1411 Loretta Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
6
Rooms
Bedroom 4, Basement, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 3
Patio and Porch features
Porch
Exterior features
Porch, Porch-Screened, Shed
Appliances
Dryer, Electric Stove, Refrigerator
Directions
1409 Loretta Ave, Mays Landing
Subdivision
Weymouth Twp
Standard status
Active
Lot size
0.85 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5716
Utilities
Sewer type
Public Sewer
Heating system
Oil
Cooling system
Ceiling Fan(s), Window Unit(s)
Water source
Public
Amenities
sheds
Ring cameras with exterior lights
window air conditioning
Building Details
Year built
1917
Number of units
2
Listing Agency:
BALSLEY/LOSCO
(609) 646-3207
Listed By:
Shaun Crews · License #2080904
(609) 473-3829
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 10 at 6:06PM
MLS# 611728
Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1917 residential property occupies approximately 0.85 acres and is arranged with two distinct living areas under one roof. Each side includes a living room, formal dining room, kitchen, and half bathroom on the main level, plus three bedrooms and a full bathroom upstairs. The layout provides six bedrooms, two full bathrooms, two half bathrooms, separate entrances, and individual electric meters. Both sides also have pull-down access to unfinished attic areas.
Recent improvements include remodeled bathrooms, luxury vinyl flooring, newer kitchen finishes and appliances, updated sinks, dishwashers, microwaves, and a quartz countertop on one side. Additional features include oil heat, window air conditioning, wood siding, four sheds, public water, public sewer, and a roof approximately four years old. The elevated corner lot includes updated porch components and exterior security cameras with lights on three sides.
The property is legally considered a single-family residence. Establishing a legal two-family or duplex use, subdivision, additional building lots, or any change of use would require independent due diligence and applicable governmental approvals. Lake Lenape is a few minutes away, while shopping and everyday services are within approximately five to ten minutes.
Recent improvements include remodeled bathrooms, luxury vinyl flooring, newer kitchen finishes and appliances, updated sinks, dishwashers, microwaves, and a quartz countertop on one side. Additional features include oil heat, window air conditioning, wood siding, four sheds, public water, public sewer, and a roof approximately four years old. The elevated corner lot includes updated porch components and exterior security cameras with lights on three sides.
The property is legally considered a single-family residence. Establishing a legal two-family or duplex use, subdivision, additional building lots, or any change of use would require independent due diligence and applicable governmental approvals. Lake Lenape is a few minutes away, while shopping and everyday services are within approximately five to ten minutes.
Key Highlights
- Approximately 0.85‑acre elevated corner lot with public water and public sewer
- Two distinct living areas with separate entrances and electric meters
- Six bedrooms, two full bathrooms, and two half bathrooms
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
$38,595
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
6.44%
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%
$771,900
$771.9K
Cap Rate 7%
$551,357
$551.4K
Cap Rate 9%
$428,833
$428.8K
Market Conditions
NOI Build-Up for 2,184 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
$59.0K $27.00/SF
− Vacancy
−$3.8K −$1.76/SF
EGI
$55.1K $25.25/SF
− OpEx
−$16.5K −$7.57/SF
NOI
$38.6K $17.67/SF
Area
Mercer County, NJ
Vacancy
6.50%
Lease Rate
$27.00 /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%
$771,900
Cap Rate 7%
$551,357
Cap Rate 9%
$428,833
Alternative Uses
Best Use
Multifamily LT 5
$551.4K
$482.4K – $643.3K
NOI $38,595 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$476.2K
$416.7K – $555.6K
NOI $33,333 @ 7.0% cap · market cap 5.56%
Theoretical Best
Warehouse
$702.7K
$614.8K – $819.8K
NOI $49,187 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
19
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Flexible residential layout with separate entrances, public utilities, updated interiors, and substantial outdoor space.
Where is this duplex located?
The property is located at 1409 - 1411 Loretta Ave Mays Landing, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Approximately 0.85‑acre elevated corner lot with public water and public sewer; Two distinct living areas with separate entrances and electric meters; Six bedrooms, two full bathrooms, and two half bathrooms
