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    Duplex Residential Income Property Title is generated by Realmo AI

    219 EVERGREEN Avenue, Oaklyn, NJ 08107

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    For Sale
    $359,900

    MULTI_FAMILY - Other - OAKLYN, NJ

    Property size:
    1,610 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $223/SF
    Added:
    Nov 21, 2024
    Days on Market:
    564
    Last Refresh:
    Jun 8 at 6:06 am

    Property Features for 219 EVERGREEN Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    On Street
    Standard status
    Active
    Size
    1,610 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Annual Amount
    8002

    Utilities

    Heating system
    Forced Air
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1920
    Number of units
    1
    Building materials
    Stucco
    Architectural style
    Other

    We can help!

    Listing Contact
    Edgar Cruz

    Listing agent Edgar Cruz License #1860506

    Listing office Realty Mark Advantage 9000 E Lincoln Drive unit: 120, Marlton, NJ

    Listing date Nov 21, 2024

    MLS# NJCD2079150 Listing URL

    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.

    HighLights

    • Duplex built in 1920 with stucco construction materials
    • Two units total, each with 2 bedrooms and 1 full bathroom
    • Forced‑air heating and window unit(s) cooling
    • On‑street parking

    Overview

    This well-maintained duplex includes two separate residential units. Each unit features 2 bedrooms and 1 full bathroom, with functional layouts and ample natural light throughout. The property is sized at 1,610 square feet on a 0.1148-acre lot.

    Located at 219 EVERGREEN Avenue in Oaklyn, NJ (Camden County), the home is positioned for everyday convenience. Public remarks note proximity to shopping, dining, schools, and major roadways, supporting practical access for residents and visitors.

    The property is suited to buyers looking for a duplex setup they can occupy while benefiting from a second income-producing unit, or for investors seeking a manageable two-unit configuration. With two clearly defined, similar-style units, it can also simplify day-to-day operations compared with more complex multifamily buildings.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $27.6k $17.16
    − Vacancy −$1.5k −$0.91
    EGI $26.2k $16.25
    − OpEx −$7.8k −$4.87
    NOI $18.3k $11.37
    1,610 SF · lease $17.16/SF/yr · vacancy 5.32% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $261.6K
    $228.9K – $305.2K (±1% cap)
    NOI $18,310 @ 7.0% cap · market cap 5.09%
    Second Best
    Apartment 5plus
    $233.6K
    $204.4K – $272.5K (±1% cap)
    NOI $16,350 @ 7.0% cap · market cap 4.54%
    Theoretical Best
    Office A
    $408.2K
    $357.2K – $476.3K (±1% cap)
    NOI $28,576 @ 7.0% cap · market cap 7.94%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Oaklyn
    County
    Camden
    State
    New Jersey
    Longitude
    -75.09314728
    Latitude
    39.91674423

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    FAQs

    What type of property is this?
    Duplex - Two-unit duplex with 2-bed/1-bath layouts, offering a straightforward owner-occupant or investment configuration.
    Where is this duplex located?
    The property is located at 219 EVERGREEN Avenue Oaklyn, NJ.
    What is the asking price?
    The asking price for this property is $359,900.
    What are key features of this property?
    This property features: Duplex built in 1920 with stucco construction materials; Two units total, each with 2 bedrooms and 1 full bathroom; Forced‑air heating and window unit(s) cooling
    (856) 761-6226
    We can help!
    Listing Contact
    Edgar Cruz
    Real Estate License ID: 1860506
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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