438 W 3RD Street, Florence, NJ 08518
MULTI_FAMILY - Bungalow, Cape Cod - FLORENCE, NJ
- Added:
- Apr 19, 2026
- Days on Market:
- 67
- Last Refresh:
- Jun 24 at 11:06 pm
Property Features for 438 W 3RD Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 3
- Parking features
- Garage - Detached, Driveway, Alley, Paved or Surfaced
- Interior features
- 2nd Kitchen
- Standard status
- Active
- Size
- 1,350 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5375
Utilities
- Heating system
- Other (Heating)
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1934
- Number of units
- 1
- Building materials
- Asbestos
- Architectural style
- Bungalow, Cape Cod
Listing agent Valerie Archer Belardo License #8732047 (609) 377-6640
Listing office RE/MAX at Home 1 Sheffield Drive unit: 102, Columbus, NJ (609) 784-8021
Listing date Apr 19, 2026
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Two‑family property with lower‑level unit and an upper‑level studio apartment with a private entrance
- Detached rear garages with easy alley access plus driveway and paved/surfaced parking
- Fully fenced yard for outdoor use
- Architectural styles include bungalow and Cape Cod; built in 1934
- Interior features include a 2nd kitchen
- Window unit cooling; other heating type reported; asbestos listed in construction materials
Overview
The property is situated in Florence, New Jersey, in Burlington County. Rear garage access is described as being available via an alley, which can help streamline vehicle access for tenants and visitors.
For buyers seeking a residence with income, the unit separation and private entrance for the studio make it workable for long-term rental use alongside an owner-occupied lower unit. The fenced yard adds practical space for tenants and household use, while the detached garages at the rear can help reduce reliance on street parking. Overall, the combination of two distinct living spaces, private access, and rear detached garages offers a flexible residential income setup.
Local Financial Insights For Multifamily LT 5
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 | $29.2k | $21.60 |
| − Vacancy | −$1.5k | −$1.13 |
| EGI | $27.6k | $20.47 |
| − OpEx | −$8.3k | −$6.14 |
| NOI | $19.3k | $14.33 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Florence
- County
- Burlington
- State
- New Jersey
- Longitude
- -74.81138
- Latitude
- 40.12185
