Duplex with Separate
For Sale
$300,000
Pending
18 MYRTLE AVENUE, Lawrence Township, NJ 08648
Duplex includes a 1-bedroom unit and an upstairs 3-bedroom unit with separate boilers, meters, and electric panels.
Property Size1,545 SF
Days on Market55
Property Features for 18 MYRTLE AVENUE
General Information
Standard status
Pending
Size
1,545 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1926
Listing Agency:
Keller Williams Realty - Moorestown
(856) 316-1100
Listed By:
Jennifer L Mendez · License #1109497
(908) 217-3722
Source:
Cummingsrealtors
Added: Jul 21
Changed: Sep 12
Last Checked: Sep 12 at 5:41AM
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 - Moorestown
Investment Insights
Based on property information with market context.
This duplex consists of two separate residential units. The downstairs unit is a 1-bedroom, 1-bath layout. The upstairs unit has three bedrooms with the potential to add a fourth bedroom and includes one bathroom.
Each unit is independently serviced with its own boiler, water heater, electric panel, gas meter, and electric meter, supporting separate utility arrangements.
The property is offered for sale completely as-is, where-is, with no repairs to be made by the seller.
Each unit is independently serviced with its own boiler, water heater, electric panel, gas meter, and electric meter, supporting separate utility arrangements.
The property is offered for sale completely as-is, where-is, with no repairs to be made by the seller.
Key Highlights
- Duplex built in 1926 with a 1‑bedroom/1‑bath unit and an upstairs 3‑bedroom unit
- Downstairs unit: 1 Bed and 1 Bath
- Upstairs unit: 3 bedrooms (potentially 4) and 1 bathroom
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
$27,302
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
9.10%
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%
$546,040
$546.0K
Cap Rate 7%
$390,029
$390.0K
Cap Rate 9%
$303,356
$303.4K
Market Conditions
NOI Build-Up for 1,545 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
$41.7K $27.00/SF
− Vacancy
−$2.7K −$1.76/SF
EGI
$39.0K $25.25/SF
− OpEx
−$11.7K −$7.57/SF
NOI
$27.3K $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%
$546,040
Cap Rate 7%
$390,029
Cap Rate 9%
$303,356
Alternative Uses
Best Use
Multifamily LT 5
$390.0K
$341.3K – $455.0K
NOI $27,302 @ 7.0% cap · market cap 9.10%
Second Best
Apartment 5plus
$336.9K
$294.8K – $393.0K
NOI $23,581 @ 7.0% cap · market cap 7.86%
Theoretical Best
Warehouse
$497.1K
$435.0K – $579.9K
NOI $34,796 @ 7.0% cap · market cap 11.60%
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
Location Intelligence
Trade Area within ½ mile
1,378
Businesses Nearby
Explore this area
Business Placement
Demographics for 08648, NJ
31,955
Population
12,217
Households
2.6
Avg Household Size
40
Median Age
60%
College-Educated
92%
High-School Grad
16.7 sq mi
ZIP Area
1,913
Density / Sq Mi
$118,036
Median Household Income
$54,833
Median Earnings
$1,953
Median Rent
$395,400
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
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 - Duplex includes a 1-bedroom unit and an upstairs 3-bedroom unit with separate boilers, meters, and electric panels.
Where is this duplex located?
The property is located at 18 MYRTLE AVENUE Lawrence Township, NJ.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Duplex built in 1926 with a 1‑bedroom/1‑bath unit and an upstairs 3‑bedroom unit; Downstairs unit: 1 Bed and 1 Bath; Upstairs unit: 3 bedrooms (potentially 4) and 1 bathroom
