Duplex With Detached
For Sale
$260,000
426 N Connecticut Ave, Atlantic City, NJ 08401
MULTI-FAMILY, Atlantic City, NJ
Property Size2,080 SF
Lot Size0.07 Acres
Price / SF$125
Days on Market214
Property Features for 426 N Connecticut Ave
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Dining Room, Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 1
Patio and Porch features
Porch
Exterior features
Curbs, Fenced Yard, Needs Work, Porch, Porch-Enclosed, Sidewalks
Fencing
Fenced
Lot features
Corner
Directions
N on New Jersey to Wabash. Turn RT on Wabash to Connecticut . PIQ on Corner of Wabash and Conn.
Subdivision
Atlantic City
Standard status
Active
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4262
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Other (Heating), Natural Gas
Water source
Public
Building Details
Year built
1900
Number of units
2
Listing Agency:
Vylla Home - Northfield
(609) 568-6005
Listed By:
CHARLES MILTENBERGER · License #0451730
(609) 338-9992
Added: Feb 17
Changed: Sep 17
Last Checked: Sep 19 at 10:06AM
MLS# 604844
Copyright © 2026 South Jersey Shore Regional 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 two-family duplex at 426 N Connecticut Ave includes 2,080 square feet of interior space on a 3,100-square-foot lot. Built in 1900, the property has a detached two-car garage, enclosed porch, fenced yard, sidewalks, and curbs. The home needs work and is offered in as-is condition, with public water and public sewer service. Heating includes radiant heat and natural gas.
The property is in Atlantic City's Historic Bungalow Park and Gardner's Basin areas. The Atlantic City Boardwalk is approximately 0.5 miles away, while New York Avenue School is approximately 0.7 miles away. Gardner's Basin, with harbors and fishing activity, is also nearby.
The property is in Atlantic City's Historic Bungalow Park and Gardner's Basin areas. The Atlantic City Boardwalk is approximately 0.5 miles away, while New York Avenue School is approximately 0.7 miles away. Gardner's Basin, with harbors and fishing activity, is also nearby.
Key Highlights
- Two‑family duplex with 2,080 square feet of interior space
- 3,100‑square‑foot lot in Atlantic City
- Detached two‑car garage provides parking and storage
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
$23,688
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
9.11%
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%
$473,760
$473.8K
Cap Rate 7%
$338,400
$338.4K
Cap Rate 9%
$263,200
$263.2K
Market Conditions
NOI Build-Up for 2,080 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
$36.2K $17.40/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$33.8K $16.27/SF
− OpEx
−$10.2K −$4.88/SF
NOI
$23.7K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /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%
$473,760
Cap Rate 7%
$338,400
Cap Rate 9%
$263,200
Alternative Uses
Best Use
Multifamily LT 5
$338.4K
$296.1K – $394.8K
NOI $23,688 @ 7.0% cap · market cap 9.11%
Second Best
Apartment 5plus
$297.4K
$260.3K – $347.0K
NOI $20,820 @ 7.0% cap · market cap 8.01%
Theoretical Best
Warehouse
$774.6K
$677.8K – $903.7K
NOI $54,220 @ 7.0% cap · market cap 20.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
727
Businesses Nearby
Explore this area
Business Placement
Demographics for 08401, NJ
38,536
Population
20,116
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
76%
High-School Grad
10.7 sq mi
ZIP Area
3,601
Density / Sq Mi
$36,375
Median Household Income
$28,915
Median Earnings
$1,086
Median Rent
$189,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family property with an enclosed porch, fenced yard, and detached garage requiring updates.
Where is this duplex located?
The property is located at 426 N Connecticut Ave Atlantic City, NJ.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two‑family duplex with 2,080 square feet of interior space; 3,100‑square‑foot lot in Atlantic City; Detached two‑car garage provides parking and storage
