Victorian Duplex With Vacant First-Floor
For Sale
Under Contract
$309,000
204 HUNTER Street, Woodbury, NJ 08096
MULTI_FAMILY - Victorian - WOODBURY, NJ
Property Size2,255 SF
Lot Size0.07 Acres
Price / SF$137.03
Days on Market52
Property Features for 204 HUNTER Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Appliances
Washer, Dryer, Refrigerator, Stove, Dishwasher
Elementary school district
WOODBURY PUBLIC SCHOOLS
Middle school district
WOODBURY PUBLIC SCHOOLS
High school district
WOODBURY PUBLIC SCHOOLS
Standard status
Active Under Contract
Size
2,255 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
6183
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s), Ceiling Fan(s)
Building Details
Year built
1920
Number of units
1
Building materials
Frame
Architectural style
Victorian
Listing Agency:
EXP Realty, LLC
(866) 201-6210
Listed By:
Sara Elizabeth Pensabene · License #2080383
(540) 336-5057
Added: Jun 20
Changed: Jul 31
Last Checked: Aug 10 at 10:06PM
MLS# NJGL2074504
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 Victorian duplex offers a first-floor unit that is vacant and move-in ready, featuring two bedrooms and 1.5 bathrooms. The upstairs unit is occupied by a long-term tenant. The owner has replaced the exterior stairs and is in the process of obtaining the Certificate of Occupancy from Woodbury.
The property is located at 204 Hunter Street in Woodbury, NJ 08096 (Gloucester County). Parking is on street, and the home is supported by forced-air heating. Cooling is provided by window unit(s) and ceiling fan(s).
Inside, the unit amenities include a washer, dryer, refrigerator, stove, and dishwasher. Built in 1920 with frame construction, the property sits on a 0.0712-acre lot with 2,255 square feet of total area.
The property is located at 204 Hunter Street in Woodbury, NJ 08096 (Gloucester County). Parking is on street, and the home is supported by forced-air heating. Cooling is provided by window unit(s) and ceiling fan(s).
Inside, the unit amenities include a washer, dryer, refrigerator, stove, and dishwasher. Built in 1920 with frame construction, the property sits on a 0.0712-acre lot with 2,255 square feet of total area.
Key Highlights
- 0.0712‑acre lot and 2,255 SF duplex
- Vacant first‑floor unit with two bedrooms and 1.5 bathrooms
- Upstairs unit occupied by a long‑term tenant
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
$26,357
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
8.53%
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%
$527,140
$527.1K
Cap Rate 7%
$376,529
$376.5K
Cap Rate 9%
$292,856
$292.9K
Market Conditions
NOI Build-Up for 2,255 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
$50.9K $22.56/SF
− Vacancy
−$3.0K −$1.31/SF
EGI
$47.9K $21.25/SF
− OpEx
−$21.6K −$9.56/SF
NOI
$26.4K $11.69/SF
Area
Gloucester County, NJ
Vacancy
5.80%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
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%
$527,140
Cap Rate 7%
$376,529
Cap Rate 9%
$292,856
Alternative Uses
Best Use
Multifamily LT 5
$423.3K
$370.4K – $493.8K
NOI $29,629 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$376.5K
$329.5K – $439.3K
NOI $26,357 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$758.0K
$663.3K – $884.3K
NOI $53,060 @ 7.0% cap · market cap 17.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
Explore this area
Business Placement
Demographics for 08096, NJ
36,355
Population
15,013
Households
2.4
Avg Household Size
41
Median Age
30%
College-Educated
92%
High-School Grad
13.9 sq mi
ZIP Area
2,615
Density / Sq Mi
$89,483
Median Household Income
$49,480
Median Earnings
$1,446
Median Rent
$248,400
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 - Victorian duplex with a move-in-ready first-floor unit and a long-term upstairs tenant, plus forced-air heat and window cooling.
Where is this duplex located?
The property is located at 204 HUNTER Street Woodbury, NJ.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: 0.0712‑acre lot and 2,255 SF duplex; Vacant first‑floor unit with two bedrooms and 1.5 bathrooms; Upstairs unit occupied by a long‑term tenant
