Two-Unit
New
For Sale
$250,000
300 SALEM AVENUE, Newfield, NJ 08344
Both residences have two-bedroom, one-bath layouts and are occupied under month-to-month leases.
Property Size1,632 SF
Price / SF$153.19
Days on Market6
Property Features for 300 SALEM AVENUE
General Information
Standard status
Active
Size
1,632 SF
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
opportunity to make updates and improvements over time
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1920
Buildings
1
Tenancy
Multi
Listing Agency:
EXIT Realty Defined
(856) 694-8795
Listed By:
Jill Santandrea · License #1327694
(856) 362-0967
Source:
Cummingsrealtors
Added: Oct 1
Changed: Oct 6
Last Checked: Oct 5 at 7:17PM
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 EXIT Realty Defined
Investment Insights
Based on property information with market context.
This 1,632-square-foot duplex, built in 1920, contains two separate residences. Each unit has two bedrooms and one full bathroom. Both are occupied by long-term tenants on month-to-month leases, and the tenants would like to remain.
The property is being sold as is, with no repairs or improvements by the seller. The buyer is responsible for inspections, certifications, and lender or municipal requirements.
The property is being sold as is, with no repairs or improvements by the seller. The buyer is responsible for inspections, certifications, and lender or municipal requirements.
Key Highlights
- Two separate residences, each with 2 bedrooms and 1 full bathroom
- 1,632 square feet across both units
- Built in 1920
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,443
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,860
$428.9K
Cap Rate 7%
$306,329
$306.3K
Cap Rate 9%
$238,256
$238.3K
Market Conditions
NOI Build-Up for 1,632 SF
Gross rent
$32.3K $19.80/SF
− Vacancy
−$1.7K −$1.03/SF
EGI
$30.6K $18.77/SF
− OpEx
−$9.2K −$5.63/SF
NOI
$21.4K $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%
$428,860
Cap Rate 7%
$306,329
Cap Rate 9%
$238,256
Alternative Uses
Best Use
Multifamily LT 5
$306.3K
$268.0K – $357.4K
NOI $21,443 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$272.5K
$238.4K – $317.9K
NOI $19,075 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$548.6K
$480.0K – $640.0K
NOI $38,401 @ 7.0% cap · market cap 15.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 08344, NJ
5,894
Population
2,362
Households
2.5
Avg Household Size
44
Median Age
26%
College-Educated
92%
High-School Grad
23.8 sq mi
ZIP Area
248
Density / Sq Mi
$73,340
Median Household Income
$50,089
Median Earnings
$1,431
Median Rent
$212,600
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
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences have two-bedroom, one-bath layouts and are occupied under month-to-month leases.
Where is this duplex located?
The property is located at 300 SALEM AVENUE Newfield, 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 separate residences, each with 2 bedrooms and 1 full bathroom; 1,632 square feet across both units; Built in 1920
