Duplex Residential Income
2214 Cove Road Pennsauken, NJ 08110
2214 Cove Road, Pennsauken, NJ, 08110
$340,000
Pending
For Sale
$340,000
Pending
Duplex with two mirrored units, each offering two bedrooms, one bath, and separate electric meters.
Property Size1,674 SF
Days on Market22
Property Features for 2214 Cove Road
General Information
- Standard status
- Pending
- Size
- 1,674 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1940
Listing agency
Long & Foster Real Estate, Inc.
(856) 816-2349
Listed by
Daniel Magee · License #8837350
(856) 816-2349
Source
Compass
Added: Jul 1 Updated: Jul 21 at 8:01AM Checked: Jul 21 at 8:01AM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This duplex offers two mirroring residential units, with each unit featuring two bedrooms, one bathroom, a large living room, and an eat-in kitchen. Unit updates include new carpeting throughout the first-floor unit and new vinyl plank flooring installed in the kitchen of the second-floor unit. The building was improved with a new rolled roof in 2025, and the heater and hot water heater have been replaced. Both units are separately metered by electric.
The property includes a large rear yard and two off-street parking spaces.
The layout is designed for independent utility management with separate electric meters, supporting straightforward unit separation within a single duplex building.
The property includes a large rear yard and two off-street parking spaces.
The layout is designed for independent utility management with separate electric meters, supporting straightforward unit separation within a single duplex building.
Key Highlights
- Duplex in Pennsauken with two mirrored units; each unit has 2 bedrooms, 1 bath, a large living room, and an eat‑in kitchen
- Separate electric meters for the two units
- New rolled roof completed in 2025
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 | $28.7k | $17.16 |
| − Vacancy | −$1.5k | −$0.91 |
| EGI | $27.2k | $16.25 |
| − OpEx | −$8.2k | −$4.87 |
| NOI | $19.0k | $11.37 |
1,674 SF · lease $17.16/SF/yr · vacancy 5.32% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$272.0K
$238.0K – $317.3K
NOI $19,038 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$242.9K
$212.5K – $283.3K
NOI $17,000 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$424.5K
$371.4K – $495.2K
NOI $29,712 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex with two mirrored units, each offering two bedrooms, one bath, and separate electric meters.
Where is this duplex located?
The property is located at 2214 Cove Road Pennsauken, NJ.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Duplex in Pennsauken with two mirrored units; each unit has 2 bedrooms, 1 bath, a large living room, and an eat‑in kitchen; Separate electric meters for the two units; New rolled roof completed in 2025
