Two-Unit Colonial
For Sale
$324,900
23 VOLANS STREET, Merchantville, NJ 08109
A separate-metered layout includes one occupied residence and a vacant upper unit with renovation needs.
Property Size1,844 SF
Price / SF$176.19
Days on Market10
Property Features for 23 VOLANS STREET
General Information
Standard status
Active
Size
1,844 SF
Property subtype
Duplex
Building Details
Year Built
1910
Listing Agency:
RE/MAX at the Sea
(609) 399-7653
Listed By:
Bill Hamberg · License #1753965
(267) 388-3520
Source:
Cummingsrealtors
Added: Oct 27
Changed: Nov 5
Last Checked: Nov 4 at 4:47PM
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 RE/MAX at the Sea
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Investment Insights
Based on property information with market context.
This Colonial-style duplex contains two residences with separate utility meters. The main-level unit has 2 bedrooms, 1 full bathroom, and an eat-in kitchen with gas cooking and a built-in microwave. Its bathroom has a tub and shower combination. The second residence occupies the upper two levels and includes 3 bedrooms, 1 full bathroom, an eat-in kitchen with electric cooking and a pantry, and a tub/shower bathroom. The building was constructed in 1910 and contains 1,844 square feet.
The main-level residence is occupied under a month-to-month lease; the upper unit is vacant and requires renovation. A full, unfinished basement provides additional storage space. Outside, the property has a front porch and driveway parking. Its location is near shopping and major highways.
The main-level residence is occupied under a month-to-month lease; the upper unit is vacant and requires renovation. A full, unfinished basement provides additional storage space. Outside, the property has a front porch and driveway parking. Its location is near shopping and major highways.
Key Highlights
- Two residences with separate utility meters
- Main‑level unit: 2 bedrooms, 1 full bathroom, gas cooking, and built‑in microwave
- Upper unit spans the second and third levels; 3 bedrooms, 1 full bathroom, electric cooking, and pantry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,972
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,440
$419.4K
Cap Rate 7%
$299,600
$299.6K
Cap Rate 9%
$233,022
$233.0K
Market Conditions
NOI Build-Up for 1,844 SF
Gross rent
$31.6K $17.16/SF
− Vacancy
−$1.7K −$0.91/SF
EGI
$30.0K $16.25/SF
− OpEx
−$9.0K −$4.87/SF
NOI
$21.0K $11.37/SF
Area
Camden County, NJ
Vacancy
5.32%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$419,440
Cap Rate 7%
$299,600
Cap Rate 9%
$233,022
Alternative Uses
Best Use
Multifamily LT 5
$299.6K
$262.2K – $349.5K
NOI $20,972 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$267.5K
$234.1K – $312.1K
NOI $18,727 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$467.6K
$409.1K – $545.5K
NOI $32,729 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
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Business Placement
Demographics for 08109, NJ
23,306
Population
9,314
Households
2.5
Avg Household Size
41
Median Age
27%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
4,855
Density / Sq Mi
$84,332
Median Household Income
$44,288
Median Earnings
$1,142
Median Rent
$227,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - A separate-metered layout includes one occupied residence and a vacant upper unit with renovation needs.
Where is this duplex located?
The property is located at 23 VOLANS STREET Merchantville, NJ.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Two residences with separate utility meters; Main‑level unit: 2 bedrooms, 1 full bathroom, gas cooking, and built‑in microwave; Upper unit spans the second and third levels; 3 bedrooms, 1 full bathroom, electric cooking, and pantry
