Two-Unit Duplex Requiring
For Sale
$189,900
1621 Emerson, Atlantic City, NJ 08401
Two residential units are offered as-is and require repairs and updating.
Property Size1,672 SF
Price / SF$113.58
Days on Market52
Property Features for 1621 Emerson
General Information
Standard status
Active
Size
1,672 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
needs repairs and updating
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1969
Listing Agency:
Resorts Ltd Inc
(609) 204-7891
Listed By:
Ben Kruse
(609) 204-7891
Source:
Choosekruse
Added: Jul 11
Changed: Aug 29
Last Checked: Aug 30 at 4:17PM
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 Resorts Ltd Inc
Investment Insights
Based on property information with market context.
This 1,672-square-foot duplex, built in 1969, contains two residential units, each configured with two bedrooms and one bathroom. The property requires repairs and updating and is being offered in as-is condition, providing a clear renovation scope for a buyer evaluating a two-unit residential asset. The seller has not occupied the property, and the buyer is responsible for required certifications and independent due diligence.
Located at 1621 Emerson Avenue in Atlantic City, the property is approximately 1.5 miles from the Boardwalk and beaches. Casinos, restaurants, entertainment venues, shopping, the Atlantic City Convention Center, marinas, and public transportation are identified within the surrounding area. Access to the Atlantic City Rail Line, Atlantic City Expressway, and major commuter routes further connects the property with South Jersey and the Philadelphia area.
Located at 1621 Emerson Avenue in Atlantic City, the property is approximately 1.5 miles from the Boardwalk and beaches. Casinos, restaurants, entertainment venues, shopping, the Atlantic City Convention Center, marinas, and public transportation are identified within the surrounding area. Access to the Atlantic City Rail Line, Atlantic City Expressway, and major commuter routes further connects the property with South Jersey and the Philadelphia area.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom per unit
- 1,672 SF building built in 1969
- Property requires repairs and updating
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
$16,736
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
8.81%
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%
$334,720
$334.7K
Cap Rate 7%
$239,086
$239.1K
Cap Rate 9%
$185,956
$186.0K
Market Conditions
NOI Build-Up for 1,672 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
$32.3K $19.32/SF
− Vacancy
−$1.9K −$1.12/SF
EGI
$30.4K $18.20/SF
− OpEx
−$13.7K −$8.19/SF
NOI
$16.7K $10.01/SF
Area
Atlantic County, NJ
Vacancy
5.80%
Lease Rate
$19.32 /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%
$334,720
Cap Rate 7%
$239,086
Cap Rate 9%
$185,956
Alternative Uses
Best Use
Multifamily LT 5
$272.0K
$238.0K – $317.4K
NOI $19,041 @ 7.0% cap · market cap 10.03%
Second Best
Apartment 5plus
$239.1K
$209.2K – $278.9K
NOI $16,736 @ 7.0% cap · market cap 8.81%
Theoretical Best
Warehouse
$622.6K
$544.8K – $726.4K
NOI $43,585 @ 7.0% cap · market cap 22.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
264
Businesses Nearby
Explore this area
Business Placement
Demographics for 08401, NJ
38,536
Population
20,116
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
76%
High-School Grad
10.7 sq mi
ZIP Area
3,601
Density / Sq Mi
$36,375
Median Household Income
$28,915
Median Earnings
$1,086
Median Rent
$189,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units are offered as-is and require repairs and updating.
Where is this duplex located?
The property is located at 1621 Emerson Atlantic City, NJ.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom per unit; 1,672 SF building built in 1969; Property requires repairs and updating
