Renovated
New
For Sale
$449,999
264 E Sherman Ave, Vineland, NJ 08360
Two vacant residences feature updated kitchens, separate off-street parking, and designated areas in a shared backyard.
Property Size2,322 SF
Price / SF$193.80
Days on Market3
Property Features for 264 E Sherman Ave
General Information
Standard status
Active
Size
2,322 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
shared backyard
Building Details
Year Built
1880
Listing Agency:
Keller Williams Realty - Ocean City
Listed By:
Thomas Dati · License #2184856
(609) 399-5454
Source:
Findahomewithus
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 8:07AM
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 - Ocean City
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex in Vineland contains two residences, each with three bedrooms and one full bathroom. Interior work includes new flooring, kitchen cabinets, stainless steel appliances, and fresh paint. A new roof and septic system are also among the recent improvements. The property was built in 1880 and occupies a lot of more than half an acre.
Both units are vacant. Each has off-street parking and a designated area in the shared backyard.
Both units are vacant. Each has off-street parking and a designated area in the shared backyard.
Key Highlights
- Two units, each with 3 bedrooms and 1 full bathroom
- Lot of more than half an acre
- New roof and septic system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,197
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,940
$603.9K
Cap Rate 7%
$431,386
$431.4K
Cap Rate 9%
$335,522
$335.5K
Market Conditions
NOI Build-Up for 2,322 SF
Gross rent
$46.0K $19.80/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$43.1K $18.58/SF
− OpEx
−$12.9K −$5.57/SF
NOI
$30.2K $13.00/SF
Area
Cumberland County, NJ
Vacancy
6.17%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$603,940
Cap Rate 7%
$431,386
Cap Rate 9%
$335,522
Alternative Uses
Best Use
Multifamily LT 5
$431.4K
$377.5K – $503.3K
NOI $30,197 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$397.1K
$347.5K – $463.3K
NOI $27,798 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,055 @ 7.0% cap · market cap 54.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Explore this area
Business Placement
Demographics for 08360, NJ
43,043
Population
16,797
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
79%
High-School Grad
44.3 sq mi
ZIP Area
972
Density / Sq Mi
$62,604
Median Household Income
$37,236
Median Earnings
$1,164
Median Rent
$199,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two vacant residences feature updated kitchens, separate off-street parking, and designated areas in a shared backyard.
Where is this duplex located?
The property is located at 264 E Sherman Ave Vineland, NJ.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 full bathroom; Lot of more than half an acre; New roof and septic system
