Turnkey Cashflowing
31 S MYRTLE Street Vineland, NJ 08360
For Sale
$300,000
MULTI_FAMILY - Other - VINELAND, NJ
Property Size1,396 SF
Lot Size0.23 Acres
Price / SF$214.90
Days on Market48
Property Features for 31 S MYRTLE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Driveway
Standard status
Active
Size
1,396 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
3838
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1890
Number of units
2
Building materials
Frame
Architectural style
Other
Listing Agency:
DePalma Realty
(856) 825-5500
Listed By:
Michael DePalma · License #1328898
(609) 501-4162
Added: Jun 12
Changed: Jun 29
Last Checked: Jul 29 at 10:06AM
MLS# NJCB2031046
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.
This turnkey duplex offers two separate leased units under annual agreements. The upstairs unit features 2 bedrooms and 1 bathroom, while the downstairs unit features 1 bedroom and 1 bathroom. Both units are currently rented under lease agreements, with terms running through February 2027 and into August 2027. Each unit has its own electric and gas meters, which supports more direct utility management. The property is listed as having a total size of 1,396 square feet on a 0.2342-acre lot.
Located at 31 S Myrtle Street in Vineland, New Jersey, this residential income property is positioned in Cumberland County. The current tenants are described as maintaining the units clean and tidy, and the rent roll is provided in the listing materials.
For investors seeking a multi-family property with in-place tenancy, this duplex presents a straightforward two-unit configuration with separate utility metering. The existing lease terms provide continuity through 2027, and the documented monthly rent roll supports the stated annual gross income in the listing materials. With two bedrooms upstairs and one bedroom downstairs, the layout can appeal to a range of tenant needs within a single building, while keeping operations consolidated under one ownership stake.
Located at 31 S Myrtle Street in Vineland, New Jersey, this residential income property is positioned in Cumberland County. The current tenants are described as maintaining the units clean and tidy, and the rent roll is provided in the listing materials.
For investors seeking a multi-family property with in-place tenancy, this duplex presents a straightforward two-unit configuration with separate utility metering. The existing lease terms provide continuity through 2027, and the documented monthly rent roll supports the stated annual gross income in the listing materials. With two bedrooms upstairs and one bedroom downstairs, the layout can appeal to a range of tenant needs within a single building, while keeping operations consolidated under one ownership stake.
Key Highlights
- Duplex built in 1890 with frame construction
- Unit mix: 2‑bedroom/1‑bath upstairs and 1‑bedroom/1‑bath downstairs
- Both units are under lease through February 2027 and into August 2027
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.6k | $19.80 |
| − Vacancy | −$1.7k | −$1.22 |
| EGI | $25.9k | $18.58 |
| − OpEx | −$7.8k | −$5.57 |
| NOI | $18.2k | $13.00 |
1,396 SF · lease $19.80/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$259.4K
$226.9K – $302.6K
NOI $18,155 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$238.8K
$208.9K – $278.6K
NOI $16,713 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$2.10M
$1.83M – $2.45M
NOI $146,727 @ 7.0% cap · market cap 48.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Leased two-unit duplex with separate electric and gas meters for straightforward utility management.
Where is this duplex located?
The property is located at 31 S MYRTLE Street Vineland, NJ.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Duplex built in 1890 with frame construction; Unit mix: 2‑bedroom/1‑bath upstairs and 1‑bedroom/1‑bath downstairs; Both units are under lease through February 2027 and into August 2027
