Turnkey Cashflowing
31 South Myrtle Street Vineland, NJ 08360
31 South Myrtle Street, Vineland, NJ, 08360
$300,000
For Sale
$300,000
Duplex with two leased units, each with separate electric and gas meters for streamlined utility management.
Property Size1,396 SF
Price / SF$214.90
Days on Market63
Property Features for 31 South Myrtle Street
General Information
- Standard status
- Active
- Size
- 1,396 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1890
Listing agency
DePalma Realty
(609) 501-4162
Listed by
Michael DePalma · License #1328898
(609) 501-4162
Source
Compass
Added: May 21 Updated: Jul 21 at 4:25AM Checked: Jul 22 at 7:44AM
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 DePalma Realty
Investment Insights
Based on property information with market context.
This well-kept duplex offers two separate, leased units with independent layouts. The upstairs unit features 2 bedrooms and 1 bathroom, while the downstairs unit features 1 bedroom and 1 bathroom. Both units are under lease agreements with tenants currently in place, supporting immediate occupancy.
Each unit has its own electric and gas meters, which can simplify utility management. Lease terms extend through February 2027 and into August 2027, providing an extended period of in-place rental income.
The property is located in Vineland City within Cumberland County, NJ.
Each unit has its own electric and gas meters, which can simplify utility management. Lease terms extend through February 2027 and into August 2027, providing an extended period of in-place rental income.
The property is located in Vineland City within Cumberland County, NJ.
Key Highlights
- Turnkey duplex with both units currently under lease agreements
- Unit mix: 1 upstairs 2BR/1BA and 1 downstairs 1BR/1BA
- Rental income: 1BR rent roll of $1,295/month and 2BR rent roll of $1,325/month
Local 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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex with two leased units, each with separate electric and gas meters for streamlined utility management.
Where is this duplex located?
The property is located at 31 South 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: Turnkey duplex with both units currently under lease agreements; Unit mix: 1 upstairs 2BR/1BA and 1 downstairs 1BR/1BA; Rental income: 1BR rent roll of $1,295/month and 2BR rent roll of $1,325/month
