Two-Unit
New
For Sale
$325,000
438 W 3RD ST, Florence, NJ 08518
A fenced yard and detached garages add outdoor space and vehicle storage.
Property Size1,350 SF
Price / SF$240.74
Days on Market6
Property Features for 438 W 3RD ST
General Information
Standard status
Active
Size
1,350 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
fully fenced yard
detached garages
Listing Agency:
RE/MAX at Home
(609) 784-8021
Listed By:
Valerie Archer Belardo · License #8732047
(609) 377-6640
Source:
Towncentermd
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 12 at 7:22PM
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 RE/MAX at Home
Investment Insights
Based on property information with market context.
This two-unit duplex has a two-bedroom, one-bath first-floor residence and a one-bedroom, one-bath second-floor residence. The upper unit has a separate entrance. A fenced yard and detached garages are located at the rear of the property, with access from the alley. The property is at 438 W 3rd St in Florence, New Jersey.
Key Highlights
- Two units: first floor has 2 bedrooms and 1 bath; second floor has 1 bedroom and 1 bath
- Separate entrance for the second‑floor unit
- Fenced yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,346
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$386,920
$386.9K
Cap Rate 7%
$276,371
$276.4K
Cap Rate 9%
$214,956
$215.0K
Market Conditions
NOI Build-Up for 1,350 SF
Gross rent
$29.2K $21.60/SF
− Vacancy
−$1.5K −$1.13/SF
EGI
$27.6K $20.47/SF
− OpEx
−$8.3K −$6.14/SF
NOI
$19.3K $14.33/SF
Area
Burlington County, NJ
Vacancy
5.22%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$386,920
Cap Rate 7%
$276,371
Cap Rate 9%
$214,956
Alternative Uses
Best Use
Multifamily LT 5
$276.4K
$241.8K – $322.4K
NOI $19,346 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$252.6K
$221.0K – $294.7K
NOI $17,682 @ 7.0% cap · market cap 5.44%
Theoretical Best
Warehouse
$2.82M
$2.47M – $3.29M
NOI $197,645 @ 7.0% cap · market cap 60.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 08518, NJ
5,943
Population
2,165
Households
2.7
Avg Household Size
42
Median Age
24%
College-Educated
88%
High-School Grad
1.9 sq mi
ZIP Area
3,128
Density / Sq Mi
$102,321
Median Household Income
$45,337
Median Earnings
$1,253
Median Rent
$287,900
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 - A fenced yard and detached garages add outdoor space and vehicle storage.
Where is this duplex located?
The property is located at 438 W 3RD ST Florence, NJ.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two units: first floor has 2 bedrooms and 1 bath; second floor has 1 bedroom and 1 bath; Separate entrance for the second‑floor unit; Fenced yard
