All-Brick Duplex Income
For Sale
$295,000
1906 46TH Street, Pennsauken, NJ 08110
Multi-Family, PENNSAUKEN, NJ
Property Size1,316 SF
Lot Size0.06 Acres
Price / SF$224.16
Days on Market52
Property Features for 1906 46TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
On Street
Appliances
Built-In Range
Elementary school district
PENNSAUKEN TOWNSHIP PUBLIC SCHOOLS
Middle school district
PENNSAUKEN TOWNSHIP PUBLIC SCHOOLS
High school district
PENNSAUKEN TOWNSHIP PUBLIC SCHOOLS
Standard status
Active
Size
1,316 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
4077
Utilities
Heating system
Other (Heating)
Building Details
Year built
1941
Number of units
2
Building materials
Brick
Listing Agency:
RE/MAX Of Cherry Hill · RE/MAX International
(856) 424-4040
Listed By:
Alan Browne · License #8643142
(856) 424-4040
Added: Jul 1
Changed: Aug 19
Last Checked: Aug 21 at 9:06PM
MLS# NJCD2121500
Copyright © 2026 Bright 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 all-brick duplex offers two separate residential units, each featuring one bedroom. The property includes a full basement and separate meters for hot water, heat, and electric, supporting straightforward utility allocation between units.
The first-floor unit is currently vacant, while the second-floor unit is scheduled to be occupied on 7/7/2026. The home is located in Pennsauken, NJ, and the seller notes close proximity to shopping, restaurants, and major roads.
As an income property, this duplex can fit both investors seeking a stable two-unit setup and owner-occupants who may prefer to occupy one unit while the other generates rent. The brick exterior is designed for lower exterior maintenance, and the separate-meter configuration can simplify day-to-day operations for anyone managing the property. For tenants and operators looking for a manageable multi-family format with clear utility separation, this Pennsauken duplex is a practical option to evaluate.
The first-floor unit is currently vacant, while the second-floor unit is scheduled to be occupied on 7/7/2026. The home is located in Pennsauken, NJ, and the seller notes close proximity to shopping, restaurants, and major roads.
As an income property, this duplex can fit both investors seeking a stable two-unit setup and owner-occupants who may prefer to occupy one unit while the other generates rent. The brick exterior is designed for lower exterior maintenance, and the separate-meter configuration can simplify day-to-day operations for anyone managing the property. For tenants and operators looking for a manageable multi-family format with clear utility separation, this Pennsauken duplex is a practical option to evaluate.
Key Highlights
- Brick duplex built in 1941 with 2 units, each with 1 bedroom
- 2nd‑floor unit rents for $1,330/month and is scheduled to be occupied 7/7/2026
- 1st‑floor unit is currently vacant, offering owner‑occupant flexibility
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
$14,967
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
5.07%
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%
$299,340
$299.3K
Cap Rate 7%
$213,814
$213.8K
Cap Rate 9%
$166,300
$166.3K
Market Conditions
NOI Build-Up for 1,316 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
$22.6K $17.16/SF
− Vacancy
−$1.2K −$0.91/SF
EGI
$21.4K $16.25/SF
− OpEx
−$6.4K −$4.87/SF
NOI
$15.0K $11.37/SF
Area
Camden County, NJ
Vacancy
5.32%
Lease Rate
$17.16 /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%
$299,340
Cap Rate 7%
$213,814
Cap Rate 9%
$166,300
Alternative Uses
Best Use
Multifamily LT 5
$213.8K
$187.1K – $249.5K
NOI $14,967 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$190.9K
$167.1K – $222.8K
NOI $13,365 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$333.7K
$292.0K – $389.3K
NOI $23,358 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
Explore this area
Business Placement
Demographics for 08110, NJ
19,599
Population
6,738
Households
2.9
Avg Household Size
37
Median Age
20%
College-Educated
77%
High-School Grad
6.5 sq mi
ZIP Area
3,015
Density / Sq Mi
$81,307
Median Household Income
$40,804
Median Earnings
$1,192
Median Rent
$194,400
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 one-bedroom units in an all-brick duplex with a full basement and separate utility meters.
Where is this duplex located?
The property is located at 1906 46TH Street Pennsauken, NJ.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Brick duplex built in 1941 with 2 units, each with 1 bedroom; 2nd‑floor unit rents for $1,330/month and is scheduled to be occupied 7/7/2026; 1st‑floor unit is currently vacant, offering owner‑occupant flexibility
