Occupied Two-Unit
For Sale
$320,000
Pending
404 HIGHLAND AVENUE, Westville, NJ 08093
Occupied duplex with separate entrances, individual utilities, shared basement storage, and a common backyard.
Property Size1,804 SF
Days on Market48
Property Features for 404 HIGHLAND AVENUE
General Information
Standard status
Pending
Size
1,804 SF
Property subtype
Duplex
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,219
Amenities
shared back yard
Building Details
Building Size
1,804 SF
Year Built
1933
Listing Agency:
Sabal Real Estate
Listed By:
Linda C Jakymiw · License #226632
(856) 905-4278
Source:
Patmckennarealtors
Added: Sep 8
Changed: Oct 21
Last Checked: Oct 24 at 10:03PM
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 Sabal Real Estate
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Investment Insights
Based on property information with market context.
This occupied duplex was built in 1933 and contains two residential units with separate entrances. The lower unit offers 3 bedrooms, living and dining rooms, a kitchen, an enclosed porch, and interior access to the basement. The upper unit includes 2 bedrooms, a living room, a kitchen, and an in-unit washer and dryer. The property also includes a shared backyard and basement storage accessible from outside. Each unit has separate heating, water-heating, water-meter, electrical, and gas-meter systems. Parking includes driveway access for the lower unit, while the upper unit uses street parking. A basement washer and dryer are assigned to the lower unit but have not been used by tenants.
Key Highlights
- Two‑unit duplex built in 1933
- Lower unit includes 3 bedrooms, dining room, enclosed porch, and basement access
- Upper unit features 2 bedrooms, kitchen, and washer/dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,703
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,060
$474.1K
Cap Rate 7%
$338,614
$338.6K
Cap Rate 9%
$263,367
$263.4K
Market Conditions
NOI Build-Up for 1,804 SF
Gross rent
$35.7K $19.80/SF
− Vacancy
−$1.9K −$1.03/SF
EGI
$33.9K $18.77/SF
− OpEx
−$10.2K −$5.63/SF
NOI
$23.7K $13.14/SF
Area
Gloucester County, NJ
Vacancy
5.20%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,060
Cap Rate 7%
$338,614
Cap Rate 9%
$263,367
Alternative Uses
Best Use
Multifamily LT 5
$338.6K
$296.3K – $395.1K
NOI $23,703 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$301.2K
$263.6K – $351.4K
NOI $21,086 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$606.4K
$530.6K – $707.5K
NOI $42,448 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
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Business Placement
Demographics for 08093, NJ
9,933
Population
4,473
Households
2.2
Avg Household Size
39
Median Age
22%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,483
Density / Sq Mi
$70,257
Median Household Income
$41,051
Median Earnings
$1,230
Median Rent
$192,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Occupied duplex with separate entrances, individual utilities, shared basement storage, and a common backyard.
Where is this duplex located?
The property is located at 404 HIGHLAND AVENUE Westville, NJ.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1933; Lower unit includes 3 bedrooms, dining room, enclosed porch, and basement access; Upper unit features 2 bedrooms, kitchen, and washer/dryer
