Building Details

Year Built 1930

Tenancy Multi

Listing Agency: Coldwell Banker Realty h***@cbrealty.com Show Phone

Listed By: NADINE V GLISSON · License #2075354 Show Phone

Source: Cummingsrealtors

Added: Jul 14 Changed: Oct 16 Last Checked: Oct 16 at 9:15AM

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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.

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 / Yr

$38,151

Cap Rate

8.48%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$763,020 $763.0K

Cap Rate 7%

$545,014 $545.0K

Cap Rate 9%

$423,900 $423.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,264 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $76,801 @ 7.0% cap · market cap 17.07%

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

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Big Box & Wholesale Store Real Estate Agency Locksmith Storage Facility Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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