Refurbished Duplex with Rear
New
For Sale
$414,900
301 S Franklin Blvd, Pleasantville, NJ 08232
Legal two-unit property with separate entrances, a fenced yard, and a vacant first-floor residence.
Property Size2,533 SF
Price / SF$163.80
Days on Market2
Property Features for 301 S Franklin Blvd
General Information
Standard status
Active
Size
2,533 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
separate entrances
fenced yard
large rear deck
Building Details
Year Built
1951
Listing Agency:
Balsley/Losco
Listed By:
Ben Kruse
(609) 204-7891
Source:
Choosekruse
Added: Sep 11
Last Checked: Sep 11 at 2:32PM
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 Balsley/Losco
Investment Insights
Based on property information with market context.
This legal duplex contains 2,533 square feet and was built in 1951. The first-floor residence offers two bedrooms, approximately 1,500 square feet, broad living and dining areas, and a sunlit flex room. It has been newly refurbished and is vacant for occupancy or leasing. The second-floor unit is also configured with two bedrooms and has been updated.
Separate entrances provide distinct access to each residence, while the property also includes a fenced yard and a large rear deck. The building has been maintained by the same owner for 25+ years and is located at 301 S Franklin Blvd in Pleasantville, NJ 08232.
Separate entrances provide distinct access to each residence, while the property also includes a fenced yard and a large rear deck. The building has been maintained by the same owner for 25+ years and is located at 301 S Franklin Blvd in Pleasantville, NJ 08232.
Key Highlights
- Legal duplex with 2,533 square feet, built in 1951
- Two 2BR residences, including an approximately 1,500‑square‑foot first‑floor unit
- Newly refurbished first floor is vacant for occupancy or leasing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$28,847
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$576,940
$576.9K
Cap Rate 7%
$412,100
$412.1K
Cap Rate 9%
$320,522
$320.5K
Market Conditions
NOI Build-Up for 2,533 SF
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.
Gross rent
$44.1K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$41.2K $16.27/SF
− OpEx
−$12.4K −$4.88/SF
NOI
$28.8K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$576,940
Cap Rate 7%
$412,100
Cap Rate 9%
$320,522
Alternative Uses
Best Use
Multifamily LT 5
$412.1K
$360.6K – $480.8K
NOI $28,847 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$362.2K
$316.9K – $422.6K
NOI $25,355 @ 7.0% cap · market cap 6.11%
Theoretical Best
Warehouse
$943.3K
$825.4K – $1.10M
NOI $66,029 @ 7.0% cap · market cap 15.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
789
Businesses Nearby
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Business Placement
Demographics for 08232, NJ
19,897
Population
7,136
Households
2.8
Avg Household Size
37
Median Age
11%
College-Educated
73%
High-School Grad
5.9 sq mi
ZIP Area
3,372
Density / Sq Mi
$52,476
Median Household Income
$30,661
Median Earnings
$1,210
Median Rent
$179,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-unit property with separate entrances, a fenced yard, and a vacant first-floor residence.
Where is this duplex located?
The property is located at 301 S Franklin Blvd Pleasantville, NJ.
What is the asking price?
The asking price for this property is $414,900.
What are key features of this property?
This property features: Legal duplex with 2,533 square feet, built in 1951; Two 2BR residences, including an approximately 1,500‑square‑foot first‑floor unit; Newly refurbished first floor is vacant for occupancy or leasing
