Duplex with Two 3-Bed
223 N MAIN Street Mullica Hill, NJ 08062
New
For Sale
$375,000
MULTI_FAMILY - MULLICA HILL, NJ
Property Size2,064 SF
Lot Size0.27 Acres
Price / SF$181.69
Days on Market2
Property Features for 223 N MAIN Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
7
Parking features
Driveway
Appliances
Oven/Range - Gas, Microwave, Refrigerator
Standard status
Active
Size
2,064 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
5178
Utilities
Heating system
Forced Air
Building Details
Year built
1910
Number of units
1
Building materials
Frame
Listing Agency:
Keller Williams - Main Street
(856) 858-2200
Listed By:
Austin Nicholas Wuest · License #2559604
(856) 341-2695
Added: Jul 27
Last Checked: Jul 28 at 7:06AM
MLS# NJGL2076380
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 duplex at 223 N Main Street in Mullica Hill features two side-by-side units, each with three bedrooms and one bathroom. One unit is currently occupied on a month-to-month lease, while the other unit is cosmetically renovated and vacant, offering flexibility for either an owner-occupant or a new tenant.
The property is listed as a residential income opportunity in Gloucester County, New Jersey. The current tenant’s month-to-month arrangement provides immediate rental income, while the vacant unit gives the option to move in or lease with minimal downtime.
At a unit level, both configurations are similar in layout, with three-bedroom, one-bath living space in each unit. The listing materials also reference HUD Fair Market Rent for a 3-bedroom unit in ZIP 08085.
The property is listed as a residential income opportunity in Gloucester County, New Jersey. The current tenant’s month-to-month arrangement provides immediate rental income, while the vacant unit gives the option to move in or lease with minimal downtime.
At a unit level, both configurations are similar in layout, with three-bedroom, one-bath living space in each unit. The listing materials also reference HUD Fair Market Rent for a 3-bedroom unit in ZIP 08085.
Key Highlights
- Duplex in Mullica Hill with two side‑by‑side 3‑bedroom, 1‑bath units
- One unit is occupied on a month‑to‑month lease renting for $950/month
- Other unit is cosmetically renovated and currently vacant
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 | $40.9k | $19.80 |
| − Vacancy | −$2.1k | −$1.03 |
| EGI | $38.7k | $18.77 |
| − OpEx | −$11.6k | −$5.63 |
| NOI | $27.1k | $13.14 |
2,064 SF · lease $19.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$387.4K
$339.0K – $452.0K
NOI $27,119 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$344.6K
$301.6K – $402.1K
NOI $24,125 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$693.8K
$607.1K – $809.4K
NOI $48,565 @ 7.0% cap · market cap 12.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two side-by-side 3-bedroom, 1-bath units, with one currently occupied on a month-to-month lease.
Where is this duplex located?
The property is located at 223 N MAIN Street Mullica Hill, NJ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Duplex in Mullica Hill with two side‑by‑side 3‑bedroom, 1‑bath units; One unit is occupied on a month‑to‑month lease renting for $950/month; Other unit is cosmetically renovated and currently vacant
