Two-Unit Residential
New
For Sale
$250,000
242 W WASHINGTON Street, Paulsboro, NJ 08066
Multi-Family, PAULSBORO, NJ
Property Size1,644 SF
Lot Size0.15 Acres
Price / SF$152.07
Days on Market2
Property Features for 242 W WASHINGTON Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
Driveway, On Street
Elementary school district
PAULSBORO PUBLIC SCHOOLS
Middle school district
PAULSBORO PUBLIC SCHOOLS
High school district
PAULSBORO PUBLIC SCHOOLS
Standard status
Active
Size
1,644 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
5048
Utilities
Heating system
Electric (Heating), Baseboard, Forced Air
Cooling system
Central Air, Window Unit(s)
Building Details
Year built
1930
Number of units
2
Building materials
Block
Architectural style
Other
Listing Agency:
Prime Realty Partners
(856) 210-3000
Listed By:
John Rinick · License #1865546
(267) 205-1824
Added: Oct 20
Last Checked: Oct 21 at 11:06AM
MLS# NJGL2079816
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.
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Investment Insights
Based on property information with market context.
This block duplex contains two residences, each arranged with two bedrooms and one bathroom. The 1,644-square-foot building sits on a 0.1473-acre lot. The right-hand residence is occupied and received a full interior renovation two years ago. The vacant left-hand residence has also been renovated and includes central air conditioning and heat; the occupied side uses electric baseboard heat.
Built in 1930, the property offers a two-unit configuration with one residence available for occupancy and the other currently leased.
Built in 1930, the property offers a two-unit configuration with one residence available for occupancy and the other currently leased.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,644‑square‑foot building on a 0.1473‑acre lot
- Vacant unit was recently renovated and has central air conditioning and heat
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.
How Realmo checks its estimates
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - One renovated residence is vacant, while the matching unit is tenant-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; 1,644‑square‑foot building on a 0.1473‑acre lot; Vacant unit was recently renovated and has central air conditioning and heat
