Two-Unit Duplex with
257 Progress Street Riverside, NJ 08075
257 Progress Street, Riverside, NJ, 08075
$300,000
For Sale
$300,000
Turn-key duplex offering a 1-bedroom unit and a 2-bedroom unit, plus two back garages rented for monthly income.
Property Size1,522 SF
Price / SF$197.11
Days on Market111
Property Features for 257 Progress Street
General Information
- Standard status
- Active
- Size
- 1,522 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1920
Listing agency
Keller Williams Realty - Moorestown
(848) 469-6691
Listed by
Patricia E Pomeranz · License #9231492
(848) 469-6691
Source
Compass
Added: Apr 2 Updated: Jul 20 at 4:47PM Checked: Jul 21 at 7:02AM
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 Keller Williams Realty - Moorestown
Investment Insights
Based on property information with market context.
This well-maintained duplex is configured as two separate residential units plus two income-producing garages at the rear of the property. Unit A is on the first floor and includes one bedroom and one bathroom with a distinct living room, a dedicated dining area, and a fully equipped kitchen. Unit A also has exclusive interior access to the full basement, providing additional storage and private laundry facilities. Unit B is on the second floor and offers two bedrooms and one bathroom with a large living room, a formal dining area, and a functional kitchen layout. Washer and dryer are included in Unit B.
The property is described as within walking distance to shopping, schools, and transportation. It also includes access to the two garages from Sylvan Street, and each garage is generating owner income.
Utilities are separated between the units for streamlined property management, and the sewer line was recently replaced.
The property is described as within walking distance to shopping, schools, and transportation. It also includes access to the two garages from Sylvan Street, and each garage is generating owner income.
Utilities are separated between the units for streamlined property management, and the sewer line was recently replaced.
Key Highlights
- Duplex built in 1920 featuring a 1‑bedroom, 1‑bath ground‑floor unit and a 2‑bedroom, 1‑bath second‑floor unit
- Includes in‑unit laundry: dryer, washer, and appliances listed for both units (Oven/Range - Gas, refrigerator, stove)
- Full basement access from Unit A for storage and private laundry facilities
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 | $38.9k | $25.56 |
| − Vacancy | −$2.5k | −$1.65 |
| EGI | $36.4k | $23.91 |
| − OpEx | −$10.9k | −$7.17 |
| NOI | $25.5k | $16.74 |
1,522 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$363.9K
$318.4K – $424.5K
NOI $25,472 @ 7.0% cap · market cap 8.49%
Second Best
Apartment 5plus
$334.4K
$292.6K – $390.1K
NOI $23,405 @ 7.0% cap · market cap 7.80%
Theoretical Best
Office A
$397.4K
$347.8K – $463.7K
NOI $27,820 @ 7.0% cap · market cap 9.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Turn-key duplex offering a 1-bedroom unit and a 2-bedroom unit, plus two back garages rented for monthly income.
Where is this duplex located?
The property is located at 257 Progress Street Riverside, NJ.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Duplex built in 1920 featuring a 1‑bedroom, 1‑bath ground‑floor unit and a 2‑bedroom, 1‑bath second‑floor unit; Includes in‑unit laundry: dryer, washer, and appliances listed for both units (Oven/Range - Gas, refrigerator, stove); Full basement access from Unit A for storage and private laundry facilities
