Renovated Duplex with Detached
For Sale
$449,999
36 W CEDAR Avenue, Merchantville, NJ 08109
Multi-Family, MERCHANTVILLE, NJ
Property Size2,000 SF
Lot Size0.34 Acres
Price / SF$224
Days on Market58
Property Features for 36 W CEDAR Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
18
Parking features
Parking Lot, Garage - Detached, Driveway
Interior features
Ceiling Fan(s), Window Treatments
Subdivision
CATTELL TRACT
Elementary school
MERCHANTVILLE E.S.
Middle school
MERCHANTVILLE
High school
HADDON HEIGHTS H.S.
Elementary school district
MERCHANTVILLE PUBLIC SCHOOLS
Middle school district
MERCHANTVILLE PUBLIC SCHOOLS
High school district
MERCHANTVILLE PUBLIC SCHOOLS
Standard status
Active
Size
2,000 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Annual Amount
10860
Utilities
Heating system
Forced Air, Other (Heating), Hot Water(Heating), Steam
Cooling system
Ceiling Fan(s), Central Air, Window Unit(s)
Amenities
fenced backyard
covered porch
deck
garage
parking lot
central air conditioning
gas furnace
in-unit washer/dryer
solid hardwood flooring
stainless steel appliances
ceiling fan
Building Details
Year built
1900
Number of units
2
Building materials
Aluminum Siding
Architectural style
Colonial
Listing Agency:
HomeSmart First Advantage Realty · HomeSmart International
(856) 363-3000
Listed By:
Natalie Schanne · License #1647304
(609) 325-1705
Added: Jun 26
Changed: Aug 21
Last Checked: Aug 22 at 5:06PM
MLS# NJCD2121002
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 Colonial duplex at 36 W Cedar Avenue contains 2,000 square feet across three levels on a 0.3444-acre lot. Unit A provides one bedroom, 1.5 bathrooms, hardwood floors, central air, a gas furnace, updated kitchen and bath finishes, and an approximately 600-square-foot partially finished basement with utility, laundry, and office or storage areas. Unit B offers three to four bedrooms and one bathroom, with refinished hardwood flooring, updated paint, a renovated kitchen and bath, laundry equipment, and a newer boiler installed in 2025.
Exterior features include front and rear covered porches, a rear Trex deck, a large fenced backyard, a detached two-car garage, driveway parking, and a rear parking lot. The roof was replaced in approximately 2023–2024. The property is near Blue Monkey Tavern, Merchantville Town Hall, and other local amenities, with Cherry Hill a short distance away.
The building was constructed in 1900 and has aluminum siding, ceiling fans, window treatments, and a Colonial architectural style. Unit occupancy can be configured as vacant, partially occupied, or fully occupied.
Exterior features include front and rear covered porches, a rear Trex deck, a large fenced backyard, a detached two-car garage, driveway parking, and a rear parking lot. The roof was replaced in approximately 2023–2024. The property is near Blue Monkey Tavern, Merchantville Town Hall, and other local amenities, with Cherry Hill a short distance away.
The building was constructed in 1900 and has aluminum siding, ceiling fans, window treatments, and a Colonial architectural style. Unit occupancy can be configured as vacant, partially occupied, or fully occupied.
Key Highlights
- 2,000 square feet arranged across three levels on a 0.3444‑acre lot
- Unit A has 1 bedroom and 1.5 bathrooms; Unit B has 3‑4 bedrooms and 1 bathroom
- Approximately 600 square feet of partially finished basement space with utility, laundry, and office or storage areas
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
$22,746
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
5.05%
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%
$454,920
$454.9K
Cap Rate 7%
$324,943
$324.9K
Cap Rate 9%
$252,733
$252.7K
Market Conditions
NOI Build-Up for 2,000 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
$34.3K $17.16/SF
− Vacancy
−$1.8K −$0.91/SF
EGI
$32.5K $16.25/SF
− OpEx
−$9.7K −$4.87/SF
NOI
$22.7K $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 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%
$454,920
Cap Rate 7%
$324,943
Cap Rate 9%
$252,733
Alternative Uses
Best Use
Multifamily LT 5
$324.9K
$284.3K – $379.1K
NOI $22,746 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$290.2K
$253.9K – $338.5K
NOI $20,311 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$507.1K
$443.7K – $591.6K
NOI $35,498 @ 7.0% cap · market cap 7.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
689
Businesses Nearby
Explore this area
Business Placement
Demographics for 08109, NJ
23,306
Population
9,314
Households
2.5
Avg Household Size
41
Median Age
27%
College-Educated
86%
High-School Grad
4.8 sq mi
ZIP Area
4,855
Density / Sq Mi
$84,332
Median Household Income
$44,288
Median Earnings
$1,142
Median Rent
$227,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated units offer separate living arrangements, outdoor space, and on-site parking in Merchantville.
Where is this duplex located?
The property is located at 36 W CEDAR Avenue Merchantville, NJ.
What is the asking price?
The asking price for this property is $449,999.
What are key features of this property?
This property features: 2,000 square feet arranged across three levels on a 0.3444‑acre lot; Unit A has 1 bedroom and 1.5 bathrooms; Unit B has 3‑4 bedrooms and 1 bathroom; Approximately 600 square feet of partially finished basement space with utility, laundry, and office or storage areas
