Duplex with One Renovated
For Sale
$425,000
1901 S EAST BOULEVARD, Vineland, NJ 08360
Duplex in Vineland, NJ built in 1989, currently fully occupied with one cosmetically renovated unit.
Property Size2,240 SF
Price / SF$189.73
Days on Market13
Property Features for 1901 S EAST BOULEVARD
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Duplex
Occupancy
100%
Building Details
Year Built
1989
Tenancy
Multi
Listing Agency:
Keller Williams - Main Street
(856) 341-2695
Listed By:
Austin Nicholas Wuest · License #2559604
(856) 341-2695
Source:
Cummingsrealtors
Added: Jul 26
Changed: Jul 30
Last Checked: Aug 7 at 1:46AM
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 - Main Street
Investment Insights
Based on property information with market context.
This duplex offers an investment-focused layout with two rental units and current occupancy. One unit has been cosmetically renovated, while the second unit presents an opportunity for updates to help increase long-term rental performance. The property is currently fully occupied.
Located at 1901 S East Boulevard in Vineland, NJ, the building was constructed in 1989. The property size is listed at 2,240 SF.
For investors seeking a straightforward duplex structure with a mix of renovated and update-ready space, this asset combines current income with room to improve the second unit over time through cosmetic and interior updates.
Located at 1901 S East Boulevard in Vineland, NJ, the building was constructed in 1989. The property size is listed at 2,240 SF.
For investors seeking a straightforward duplex structure with a mix of renovated and update-ready space, this asset combines current income with room to improve the second unit over time through cosmetic and interior updates.
Key Highlights
- Currently fully occupied duplex
- One unit cosmetically renovated; second unit update‑ready
- 2,240 SF duplex
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
$29,131
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
6.85%
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%
$582,620
$582.6K
Cap Rate 7%
$416,157
$416.2K
Cap Rate 9%
$323,678
$323.7K
Market Conditions
NOI Build-Up for 2,240 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
$44.4K $19.80/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$41.6K $18.58/SF
− OpEx
−$12.5K −$5.57/SF
NOI
$29.1K $13.00/SF
Area
Cumberland County, NJ
Vacancy
6.17%
Lease Rate
$19.80 /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%
$582,620
Cap Rate 7%
$416,157
Cap Rate 9%
$323,678
Alternative Uses
Best Use
Multifamily LT 5
$416.2K
$364.1K – $485.5K
NOI $29,131 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$383.1K
$335.2K – $447.0K
NOI $26,817 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$3.36M
$2.94M – $3.92M
NOI $235,437 @ 7.0% cap · market cap 55.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 08360, NJ
43,043
Population
16,797
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
79%
High-School Grad
44.3 sq mi
ZIP Area
972
Density / Sq Mi
$62,604
Median Household Income
$37,236
Median Earnings
$1,164
Median Rent
$199,600
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 - Duplex in Vineland, NJ built in 1989, currently fully occupied with one cosmetically renovated unit.
Where is this duplex located?
The property is located at 1901 S EAST BOULEVARD Vineland, NJ.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Currently fully occupied duplex; One unit cosmetically renovated; second unit update‑ready; 2,240 SF duplex
