Building Details

Year built 1920

Number of units 2

Building materials Frame

Listing Agency: EXIT Realty Defined Show Phone

Listed By: Jill Santandrea · License #1327694 Show Phone

Added: Oct 1 Last Checked: Oct 6 at 9:06AM

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MLS# NJGL2078604

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.

Investment Insights

Based on property information with market context.

The frame duplex at 300 Salem Avenue contains two residences, each with two bedrooms and one full bathroom. Combined, the building offers 1,632 square feet on a 0.58-acre lot. Constructed in 1920, it is offered in as-is condition, with the seller making no repairs or improvements.

Both units are occupied under month-to-month leases, and the tenants would like to remain. The property is in Newfield, Gloucester County, New Jersey. The buyer is responsible for inspections, certifications, and lender or municipal requirements.

Key Highlights

• Two residences, each with 2 bedrooms and 1 full bathroom
• 1,632 square feet of building area on a 0.58‑acre lot
• Both units occupied by month‑to‑month tenants who wish to stay

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 (±1% cap)

NOI $21,443 @ 7.0% cap · market cap 8.58%

Second Best

Apartment 5plus

$272.5K

$238.4K – $317.9K (±1% cap)

NOI $19,075 @ 7.0% cap · market cap 7.63%

Theoretical Best

Office A

$548.6K

$480.0K – $640.0K (±1% cap)

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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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Building Supply Law Firm Restaurant Parking Lot & Garage Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

100%

Occupancy

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Both residences are occupied by month-to-month tenants who have expressed interest in staying.

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 residences, each with 2 bedrooms and 1 full bathroom; 1,632 square feet of building area on a 0.58‑acre lot; Both units occupied by month‑to‑month tenants who wish to stay