Two-Unit
New
For Sale
$250,000
242 W WASHINGTON STREET, Paulsboro, NJ 08066
Both residences have two bedrooms and one bathroom, with one unit vacant and the other occupied.
Property Size1,644 SF
Days on Market6
Property Features for 242 W WASHINGTON STREET
General Information
Standard status
Active
Size
1,644 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,048
Building Details
Building Size
1,644 SF
Year Built
1930
Listing Agency:
Prime Realty Partners
Listed By:
John Rinick · License #1865546
(267) 205-1824
Source:
Patmckennarealtors
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 4:15PM
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 Prime Realty Partners
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Investment Insights
Based on property information with market context.
This duplex contains two residences, each arranged with two bedrooms and one bathroom. The right-side unit was renovated down to the framing two years ago and is occupied. The left-side unit has also been renovated and is vacant. Heating and cooling differ between the units: the left residence has central air conditioning and heat, while the right uses electric baseboard heat.
Built in 1930, the property offers a two-unit configuration with distinct occupancy and mechanical features.
Built in 1930, the property offers a two-unit configuration with distinct occupancy and mechanical features.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- Left unit is vacant and recently renovated
- Right unit is occupied and was renovated down to the studs two years ago
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,601
Cap Rate
8.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,020
$432.0K
Cap Rate 7%
$308,586
$308.6K
Cap Rate 9%
$240,011
$240.0K
Market Conditions
NOI Build-Up for 1,644 SF
Gross rent
$32.6K $19.80/SF
− Vacancy
−$1.7K −$1.03/SF
EGI
$30.9K $18.77/SF
− OpEx
−$9.3K −$5.63/SF
NOI
$21.6K $13.14/SF
Area
Gloucester County, NJ
Vacancy
5.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$432,020
Cap Rate 7%
$308,586
Cap Rate 9%
$240,011
Alternative Uses
Best Use
Multifamily LT 5
$308.6K
$270.0K – $360.0K
NOI $21,601 @ 7.0% cap · market cap 8.64%
Second Best
Apartment 5plus
$274.5K
$240.2K – $320.3K
NOI $19,216 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$552.6K
$483.5K – $644.7K
NOI $38,683 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
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Business Placement
Demographics for 08066, NJ
8,414
Population
3,605
Households
2.3
Avg Household Size
37
Median Age
21%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
1,237
Density / Sq Mi
$62,412
Median Household Income
$35,684
Median Earnings
$1,092
Median Rent
$166,600
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 - Both residences have two bedrooms and one bathroom, with one unit vacant and the other occupied.
Where is this duplex located?
The property is located at 242 W WASHINGTON STREET Paulsboro, NJ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; Left unit is vacant and recently renovated; Right unit is occupied and was renovated down to the studs two years ago
