Renovated
New
For Sale
$395,000
1906 49TH STREET, Pennsauken, NJ 08110
Two updated apartments each offer three bedrooms, with leases extending into 2027.
Property Size2,086 SF
Price / SF$189.36
Days on Market4
Property Features for 1906 49TH STREET
General Information
Standard status
Active
Size
2,086 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$50,400
Tenant in Place
Yes
Amenities
shared front porch
backyard
basement laundry with washer and dryer
shared storage space
Building Details
Year Built
1940
Year Renovated
2025
Buildings
1
Tenancy
Multi
Listing Agency:
Garden State Properties Group - Merchantville
(856) 665-1234
Listed By:
Rita M. O'Brien · License #458027
(856) 448-3800
Source:
Cummingsrealtors
Added: Oct 29
Changed: Nov 1
Last Checked: Nov 1 at 6:04AM
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 Garden State Properties Group - Merchantville
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Investment Insights
Based on property information with market context.
This two-unit duplex in Pennsauken contains a first-floor and a second-floor apartment, each with three bedrooms and one full bathroom. Both residences received kitchen and bathroom updates, new flooring and carpeting, and refreshed living and dining areas in 2025. The property also has a new roof, a shared front porch, a backyard, basement laundry with washer and dryer, and common storage. Built in 1940, the building is being sold as-is, and township rental certificates are in place.
The first-floor lease runs through June 2027, while the second-floor lease extends through May 2027. Tenants pay gas, electric, and water; heat and sewer are included in rent. Property management is established, and the property is near shopping, dining, major roadways, and Philadelphia.
The first-floor lease runs through June 2027, while the second-floor lease extends through May 2027. Tenants pay gas, electric, and water; heat and sewer are included in rent. Property management is established, and the property is near shopping, dining, major roadways, and Philadelphia.
Key Highlights
- Two apartments, each with 3 bedrooms and 1 full bathroom
- Both units renovated in 2025, including kitchen and bathroom updates
- New roof; shared front porch and backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,724
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,480
$474.5K
Cap Rate 7%
$338,914
$338.9K
Cap Rate 9%
$263,600
$263.6K
Market Conditions
NOI Build-Up for 2,086 SF
Gross rent
$35.8K $17.16/SF
− Vacancy
−$1.9K −$0.91/SF
EGI
$33.9K $16.25/SF
− OpEx
−$10.2K −$4.87/SF
NOI
$23.7K $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 Rate 5%
$474,480
Cap Rate 7%
$338,914
Cap Rate 9%
$263,600
Alternative Uses
Best Use
Multifamily LT 5
$338.9K
$296.6K – $395.4K
NOI $23,724 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$302.6K
$264.8K – $353.1K
NOI $21,184 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$528.9K
$462.8K – $617.1K
NOI $37,024 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
581
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated apartments each offer three bedrooms, with leases extending into 2027.
Where is this duplex located?
The property is located at 1906 49TH STREET Pennsauken, NJ.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms and 1 full bathroom; Both units renovated in 2025, including kitchen and bathroom updates; New roof; shared front porch and backyard
