Duplex With Long-Term
New
For Sale
$249,900
303 ESSEX STREET, Gloucester City, NJ 08030
Both units are occupied by long-term tenants, including Section 8 tenancy.
Property Size1,826 SF
Price / SF$136.86
Days on Market4
Property Features for 303 ESSEX STREET
General Information
Standard status
Active
Size
1,826 SF
Property subtype
Duplex
Occupancy
100%
Building Details
Year Built
1922
Listing Agency:
Connection Property Management
(856) 652-9694
Listed By:
Gina M Ziegler
(609) 760-2325
Source:
Cummingsrealtors
Added: Oct 13
Changed: Oct 15
Last Checked: Oct 16 at 9:05AM
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 Connection Property Management
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Investment Insights
Based on property information with market context.
This 1,826-square-foot duplex was built in 1922 and is occupied in both units. The tenancy includes Section 8, with both residents described as long-term occupants.
Located at 303 Essex Street in Gloucester City, New Jersey, the property is offered for sale.
Located at 303 Essex Street in Gloucester City, New Jersey, the property is offered for sale.
Key Highlights
- Two units occupied by long‑term tenants
- Section 8 tenancy
- 1,826 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,767
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,340
$415.3K
Cap Rate 7%
$296,671
$296.7K
Cap Rate 9%
$230,744
$230.7K
Market Conditions
NOI Build-Up for 1,826 SF
Gross rent
$31.3K $17.16/SF
− Vacancy
−$1.7K −$0.91/SF
EGI
$29.7K $16.25/SF
− OpEx
−$8.9K −$4.87/SF
NOI
$20.8K $11.37/SF
Area
Camden County, NJ
Vacancy
5.32%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$415,340
Cap Rate 7%
$296,671
Cap Rate 9%
$230,744
Alternative Uses
Best Use
Multifamily LT 5
$296.7K
$259.6K – $346.1K
NOI $20,767 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$264.9K
$231.8K – $309.1K
NOI $18,544 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$463.0K
$405.1K – $540.2K
NOI $32,409 @ 7.0% cap · market cap 12.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
346
Businesses Nearby
Explore this area
Business Placement
Demographics for 08030, NJ
13,261
Population
5,470
Households
2.4
Avg Household Size
37
Median Age
20%
College-Educated
87%
High-School Grad
2.8 sq mi
ZIP Area
4,736
Density / Sq Mi
$66,190
Median Household Income
$38,853
Median Earnings
$1,498
Median Rent
$169,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both units are occupied by long-term tenants, including Section 8 tenancy.
Where is this duplex located?
The property is located at 303 ESSEX STREET Gloucester City, NJ.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two units occupied by long‑term tenants; Section 8 tenancy; 1,826 square feet
