Building Details

Year Built 1920

Listing Agency: BHHS Fox & Roach-Washington-Gloucester

Listed By: Timothy H Belko · License #0564155 Show Phone

Source: Danmauz

Added: Sep 4 Changed: Oct 8 Last Checked: Oct 7 at 5:42PM

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Investment Insights

Based on property information with market context.

This 1,479 SF duplex at 201 W Jersey Ave in Pitman, NJ, was built in 1920 and is configured as two side-by-side residences. One unit has one bedroom and one bathroom and is currently vacant. The second includes two bedrooms and one bathroom and is occupied under a lease extending through June 2027.

The property provides a distinct two-unit layout with separate residential spaces and an existing tenancy in place. Its configuration supports either continued rental use or an owner-occupant arrangement with one residence available for occupancy, as supported by the current unit status.

Key Highlights

• 1,479 SF duplex built in 1920
• Side‑by‑side layout with two separate residential units
• One 1‑bedroom, 1‑bathroom unit is vacant

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$19,433

Cap Rate

7.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$388,660 $388.7K

Cap Rate 7%

$277,614 $277.6K

Cap Rate 9%

$215,922 $215.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,479 SF

Gross rent

$29.3K $19.80/SF

− Vacancy

−$1.5K −$1.03/SF

EGI

$27.8K $18.77/SF

− OpEx

−$8.3K −$5.63/SF

NOI

$19.4K $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%

$388,660

Cap Rate 7%

$277,614

Cap Rate 9%

$215,922

Alternative Uses

Best Use

Multifamily LT 5

$277.6K

$242.9K – $323.9K (±1% cap)

NOI $19,433 @ 7.0% cap · market cap 7.07%

Second Best

Apartment 5plus

$247.0K

$216.1K – $288.1K (±1% cap)

NOI $17,287 @ 7.0% cap · market cap 6.29%

Theoretical Best

Office A

$497.2K

$435.0K – $580.0K (±1% cap)

NOI $34,801 @ 7.0% cap · market cap 12.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

613

Businesses Nearby

Explore this area Business Placement

Demographics for 08071, NJ

9,259

Population

3,984

Households

2.3

Avg Household Size

42

Median Age

45%

College-Educated

97%

High-School Grad

3.3 sq mi

ZIP Area

2,806

Density / Sq Mi

$97,222

Median Household Income

$51,243

Median Earnings

$1,488

Median Rent

$258,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-unit property offers one available residence and one occupied under lease through June 2027.

Where is this duplex located?

The property is located at 201 W Jersey Ave Pitman, NJ.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: 1,479 SF duplex built in 1920; Side‑by‑side layout with two separate residential units; One 1‑bedroom, 1‑bathroom unit is vacant