Two-Unit Duplex
For Sale
$450,000
22 DARE STREET, Woodbury, NJ 08096
Twin-style duplex offers two 4-bedroom units, each with separate yard space, and both units are tenant-occupied.
Property Size3,264 SF
Price / SF$137.87
Days on Market94
Property Features for 22 DARE STREET
General Information
Standard status
Active
Size
3,264 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(856) 685-5600
Listed By:
NADINE V GLISSON · License #2075354
(609) 280-5710
Source:
Cummingsrealtors
Added: Jun 1
Changed: Sep 2
Last Checked: Sep 1 at 5:10PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This twin-style duplex features two separate units, each laid out with 4 bedrooms and living space. The property includes ample storage and separate yard spaces for each unit. Unit 24 has been recently updated with laminate floors, a granite kitchen island, new cabinets, fresh paint, a new backsplash, and new kitchen appliances, along with updated kitchen features.
The duplex is located at 22-24 Dare Street in Woodbury, and it is close to public transportation.
Both units are tenant-occupied, supporting an income-producing residential configuration within a single duplex building.
The duplex is located at 22-24 Dare Street in Woodbury, and it is close to public transportation.
Both units are tenant-occupied, supporting an income-producing residential configuration within a single duplex building.
Key Highlights
- Twin‑style duplex at 22‑24 Dare Street, Woodbury, built in 1930
- Two tenant‑occupied 4‑bedroom units with separate yard spaces
- Unit 24 recently updated with new laminate floors, granite kitchen island, new cabinets, fresh paint, new backsplash, and new kitchen appliances
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
$38,151
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
8.48%
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%
$763,020
$763.0K
Cap Rate 7%
$545,014
$545.0K
Cap Rate 9%
$423,900
$423.9K
Market Conditions
NOI Build-Up for 3,264 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
$73.6K $22.56/SF
− Vacancy
−$4.3K −$1.31/SF
EGI
$69.4K $21.25/SF
− OpEx
−$31.2K −$9.56/SF
NOI
$38.2K $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%
$763,020
Cap Rate 7%
$545,014
Cap Rate 9%
$423,900
Alternative Uses
Best Use
Apartment 5plus
$545.0K
$476.9K – $635.9K
NOI $38,151 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$960.0K – $1.28M
NOI $76,801 @ 7.0% cap · market cap 17.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
284
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Twin-style duplex offers two 4-bedroom units, each with separate yard space, and both units are tenant-occupied.
Where is this multifamily property located?
The property is located at 22 DARE STREET Woodbury, NJ.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Twin‑style duplex at 22‑24 Dare Street, Woodbury, built in 1930; Two tenant‑occupied 4‑bedroom units with separate yard spaces; Unit 24 recently updated with new laminate floors, granite kitchen island, new cabinets, fresh paint, new backsplash, and new kitchen appliances
