Duplex with 3
For Sale
$320,000
17 PROGRESS AVE, Woodbury, NJ 08096
Two-unit property with a full basement, on-site parking, and three garages; both units are vacant and the property requires work.
Property Size1,454 SF
Price / SF$220.08
Days on Market55
Property Features for 17 PROGRESS AVE
General Information
Standard status
Active
Size
1,454 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
does require work
Additional Details
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
Opus Elite Real Estate of NJ, LLC
(609) 540-5505
Listed By:
Kari Tomeo
(856) 308-9358
Source:
Opal-realestate
Added: Aug 26
Changed: Oct 8
Last Checked: Oct 19 at 6:51AM
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 Opus Elite Real Estate of NJ, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit duplex includes upper and lower residences, a full basement, three garages, and ample on-site parking. Both units are currently vacant, providing a clear starting point for a purchaser planning repairs and repositioning. The property was built in 1922 and is being offered in as-is condition.
Located in Woodbury, New Jersey, the property is identified as 17 Progress Avenue. The buyer is responsible for inspections, repairs, certifications, lender requirements, and obtaining the certificate of occupancy. The existing layout and garage component provide a defined residential income property configuration, subject to the work and approvals required for the buyer’s intended use.
Located in Woodbury, New Jersey, the property is identified as 17 Progress Avenue. The buyer is responsible for inspections, repairs, certifications, lender requirements, and obtaining the certificate of occupancy. The existing layout and garage component provide a defined residential income property configuration, subject to the work and approvals required for the buyer’s intended use.
Key Highlights
- Two‑unit duplex with upper and lower residences
- Three garages included with the property
- Full basement and ample on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,105
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,100
$382.1K
Cap Rate 7%
$272,929
$272.9K
Cap Rate 9%
$212,278
$212.3K
Market Conditions
NOI Build-Up for 1,454 SF
Gross rent
$28.8K $19.80/SF
− Vacancy
−$1.5K −$1.03/SF
EGI
$27.3K $18.77/SF
− OpEx
−$8.2K −$5.63/SF
NOI
$19.1K $13.14/SF
Area
Gloucester County, NJ
Vacancy
5.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,100
Cap Rate 7%
$272,929
Cap Rate 9%
$212,278
Alternative Uses
Best Use
Multifamily LT 5
$272.9K
$238.8K – $318.4K
NOI $19,105 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$242.8K
$212.4K – $283.3K
NOI $16,995 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$488.7K
$427.7K – $570.2K
NOI $34,212 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 08096, NJ
36,355
Population
15,013
Households
2.4
Avg Household Size
41
Median Age
30%
College-Educated
92%
High-School Grad
13.9 sq mi
ZIP Area
2,615
Density / Sq Mi
$89,483
Median Household Income
$49,480
Median Earnings
$1,446
Median Rent
$248,400
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with a full basement, on-site parking, and three garages; both units are vacant and the property requires work.
Where is this duplex located?
The property is located at 17 PROGRESS AVE Woodbury, NJ.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two‑unit duplex with upper and lower residences; Three garages included with the property; Full basement and ample on‑site parking
