Turnkey Cashflowing Duplex
419 East Mulberry Street Millville, NJ 08332
419 East Mulberry Street, Millville, NJ, 08332
$250,000
For Sale
$250,000
Well-kept duplex with strong rental history and separate utilities.
Property Size1,804 SF
Price / SF$138.58
Days on Market56
Property Features for 419 East Mulberry Street
General Information
- Standard status
- Active
- Size
- 1,804 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1927
Listing Agency
DePalma Realty
(609) 501-4162
Listed by
Michael DePalma · License #1328898
(609) 501-4162
Source
Compass
Added: May 23 Checked: Jul 17 at 4:03 am
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 is a well-kept duplex featuring a downstairs unit with 2 bedrooms and 1 bathroom, and an upstairs unit with 3 bedrooms and 1 bathroom. The property generates a total current rent roll of $2,745.00 per month, amounting to $32,940.00 annually. Both units are occupied by tenants who maintain the cleanliness of their spaces and are on annual leases extending through the Fall. Each unit is equipped with separate electric and gas meters, facilitating straightforward utility management. The leases incorporate a monthly water/sewer fee, typically covering these expenses. The landlord is responsible for trash, taxes, and building insurance. The property is located in Millville City, Cumberland County, within the Millville Area School District.
Key Highlights
- Turnkey cashflowing duplex with a total current rent roll of $2,745.00 per month ($32,940.00 annually).
- Separate electric and gas meters for each unit, simplifying utility management.
- Tenants are on annual leases running through the Fall.
Local Financial Insights For Apartment 5plus
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 | $42.0k | $23.28 |
| − Vacancy | −$2.7k | −$1.51 |
| EGI | $39.3k | $21.77 |
| − OpEx | −$17.7k | −$9.80 |
| NOI | $21.6k | $11.97 |
1,804 SF · lease $23.28/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$335.2K
$293.3K – $391.0K
NOI $23,461 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$308.5K
$270.0K – $360.0K
NOI $21,597 @ 7.0% cap · market cap 8.64%
Theoretical Best
Office A
$2.71M
$2.37M – $3.16M
NOI $189,611 @ 7.0% cap · market cap 75.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-kept duplex with strong rental history and separate utilities.
Where is this duplex located?
The property is located at 419 East Mulberry Street Millville, NJ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Turnkey cashflowing duplex with a total current rent roll of $2,745.00 per month ($32,940.00 annually).; Separate electric and gas meters for each unit, simplifying utility management.; Tenants are on annual leases running through the Fall.
