Two-Unit Duplex with Separate
For Sale
$249,900
457 Delair Avenue, Pennsauken, NJ 08110
Two residential units provide individual kitchens and living rooms within a duplex configuration.
Property Size1,190 SF
Price / SF$210
Days on Market233
Property Features for 457 Delair Avenue
General Information
Standard status
Active
Size
1,190 SF
Property subtype
Multi-Family / Fee Simple
Zoning
G01
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,273
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1935
Listing Agency:
Genstone Properties
(973) 479-0937
Listed By:
Christina Calvo · License #267516
(973) 479-0937
Source:
Compass
Added: Jan 10
Changed: Aug 29
Last Checked: Aug 30 at 11:10PM
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 Genstone Properties
Investment Insights
Based on property information with market context.
This duplex contains two separate one-bedroom units within a 1,190-square-foot residential property. Each unit includes its own kitchen and living room, creating distinct living areas under one building. The property was built in 1935 and is identified with G01 zoning.
Located at 457 Delair Avenue in Pennsauken, New Jersey, the property falls within the Pennsauken Township MLS area and is served by Pennsauken Township Public Schools. The exterior includes both above-grade and below-grade components, with no pool.
Located at 457 Delair Avenue in Pennsauken, New Jersey, the property falls within the Pennsauken Township MLS area and is served by Pennsauken Township Public Schools. The exterior includes both above-grade and below-grade components, with no pool.
Key Highlights
- Two separate one‑bedroom units
- Individual kitchen and living room for each unit
- 1,190 SF property
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
$13,534
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
5.42%
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%
$270,680
$270.7K
Cap Rate 7%
$193,343
$193.3K
Cap Rate 9%
$150,378
$150.4K
Market Conditions
NOI Build-Up for 1,190 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
$20.4K $17.16/SF
− Vacancy
−$1.1K −$0.91/SF
EGI
$19.3K $16.25/SF
− OpEx
−$5.8K −$4.87/SF
NOI
$13.5K $11.37/SF
Area
Camden County, NJ
Vacancy
5.32%
Lease Rate
$17.16 /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%
$270,680
Cap Rate 7%
$193,343
Cap Rate 9%
$150,378
Alternative Uses
Best Use
Multifamily LT 5
$193.3K
$169.2K – $225.6K
NOI $13,534 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$172.6K
$151.1K – $201.4K
NOI $12,085 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$301.7K
$264.0K – $352.0K
NOI $21,121 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
184
Businesses Nearby
Explore this area
Business Placement
Demographics for 08110, NJ
19,599
Population
6,738
Households
2.9
Avg Household Size
37
Median Age
20%
College-Educated
77%
High-School Grad
6.5 sq mi
ZIP Area
3,015
Density / Sq Mi
$81,307
Median Household Income
$40,804
Median Earnings
$1,192
Median Rent
$194,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide individual kitchens and living rooms within a duplex configuration.
Where is this duplex located?
The property is located at 457 Delair Avenue Pennsauken, NJ.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two separate one‑bedroom units; Individual kitchen and living room for each unit; 1,190 SF property
