Two-Unit Duplex with Private
For Sale
$239,900
409 D St, Millville, NJ 08332
Two-level duplex with separate entrances and distinct living spaces for each apartment.
Property Size1,624 SF
Price / SF$147.72
Days on Market44
Property Features for 409 D St
General Information
Standard status
Active
Size
1,624 SF
Property subtype
Multi-Family
Building Details
Year Built
1947
Listing Agency:
Keller Williams Realty - Washington Township
(856) 304-5927
Listed By:
Gregory Petrelli · License #1542202
Source:
Soldbypattie
Added: Jul 19
Changed: Aug 29
Last Checked: Aug 30 at 7:09PM
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 Keller Williams Realty - Washington Township
Investment Insights
Based on property information with market context.
Built in 1947, this 1,624-square-foot duplex contains two separate apartments arranged across the first and second floors. Each unit includes 2 bedrooms, 1 full bathroom, a living area, and a private entrance, creating clearly defined residential spaces within the building.
The property is located at 409 D St in Millville, NJ, near shopping, restaurants, schools, and major roadways. Its two-unit configuration supports both investor and owner-occupant use, including the option to occupy one apartment while renting the other.
The property is located at 409 D St in Millville, NJ, near shopping, restaurants, schools, and major roadways. Its two-unit configuration supports both investor and owner-occupant use, including the option to occupy one apartment while renting the other.
Key Highlights
- Two‑unit duplex with one apartment on each floor
- Each apartment includes 2 bedrooms and 1 full bathroom
- Separate private entrance for each unit
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
$21,120
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
8.80%
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%
$422,400
$422.4K
Cap Rate 7%
$301,714
$301.7K
Cap Rate 9%
$234,667
$234.7K
Market Conditions
NOI Build-Up for 1,624 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
$32.2K $19.80/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$30.2K $18.58/SF
− OpEx
−$9.1K −$5.57/SF
NOI
$21.1K $13.00/SF
Area
Cumberland County, NJ
Vacancy
6.17%
Lease Rate
$19.80 /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%
$422,400
Cap Rate 7%
$301,714
Cap Rate 9%
$234,667
Alternative Uses
Best Use
Multifamily LT 5
$301.7K
$264.0K – $352.0K
NOI $21,120 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$277.7K
$243.0K – $324.0K
NOI $19,442 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$2.44M
$2.13M – $2.84M
NOI $170,691 @ 7.0% cap · market cap 71.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
831
Businesses Nearby
Explore this area
Business Placement
Demographics for 08332, NJ
35,396
Population
15,063
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
86%
High-School Grad
104.5 sq mi
ZIP Area
339
Density / Sq Mi
$65,825
Median Household Income
$39,595
Median Earnings
$1,223
Median Rent
$195,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level duplex with separate entrances and distinct living spaces for each apartment.
Where is this duplex located?
The property is located at 409 D St Millville, NJ.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑unit duplex with one apartment on each floor; Each apartment includes 2 bedrooms and 1 full bathroom; Separate private entrance for each unit
