Two-Unit Duplex with
New
For Sale
$323,900
48 N Myrtle Street, Vineland, NJ 08360
Vacant units offer a two-bedroom front layout and a one-bedroom rear layout for renovation.
Property Size1,440 SF
Price / SF$224.93
Days on Market5
Property Features for 48 N Myrtle Street
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Multi Family Home
Zoning
01
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updates
Units
Unit Mix
2BR/1.5BA, 1BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,842
Building Details
Building Size
1,440 SF
Year Built
1945
Buildings
1
Units
1
Listing Agency:
Keller Williams Prime Realty
(856) 362-5072
Listed By:
Lakesha N. White · License #1866643
(609) 605-4709
Source:
Depalmarealty
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 26 at 3:44AM
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 Keller Williams Prime Realty
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Investment Insights
Based on property information with market context.
This detached duplex contains 1,440 square feet and was built in 1945. The front residence has two bedrooms, one and a half bathrooms, living and dining rooms, and a basement. It has oil heat, central air, and leased solar panels; gas is available. Cosmetic work is needed in this unit. The rear residence includes one bedroom, one full bathroom, and a lower level that could be finished. Heating and air conditioning systems for the rear unit require setup, and renovation is needed. Both units are vacant. The property is offered as-is, with the buyer responsible for repairs, inspections, and certifications. Zoning is 01.
Key Highlights
- Detached duplex with 1,440 square feet
- Front unit: 2 bedrooms, 1.5 bathrooms, living room, dining room, and basement
- Rear unit: 1 bedroom, 1 full bathroom, and a lower level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,727
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,540
$374.5K
Cap Rate 7%
$267,529
$267.5K
Cap Rate 9%
$208,078
$208.1K
Market Conditions
NOI Build-Up for 1,440 SF
Gross rent
$28.5K $19.80/SF
− Vacancy
−$1.8K −$1.22/SF
EGI
$26.8K $18.58/SF
− OpEx
−$8.0K −$5.57/SF
NOI
$18.7K $13.00/SF
Area
Cumberland County, NJ
Vacancy
6.17%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,540
Cap Rate 7%
$267,529
Cap Rate 9%
$208,078
Alternative Uses
Best Use
Multifamily LT 5
$267.5K
$234.1K – $312.1K
NOI $18,727 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$246.3K
$215.5K – $287.3K
NOI $17,239 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,352 @ 7.0% cap · market cap 46.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Explore this area
Business Placement
Demographics for 08360, NJ
43,043
Population
16,797
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
79%
High-School Grad
44.3 sq mi
ZIP Area
972
Density / Sq Mi
$62,604
Median Household Income
$37,236
Median Earnings
$1,164
Median Rent
$199,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Vacant units offer a two-bedroom front layout and a one-bedroom rear layout for renovation.
Where is this duplex located?
The property is located at 48 N Myrtle Street Vineland, NJ.
What is the asking price?
The asking price for this property is $323,900.
What are key features of this property?
This property features: Detached duplex with 1,440 square feet; Front unit: 2 bedrooms, 1.5 bathrooms, living room, dining room, and basement; Rear unit: 1 bedroom, 1 full bathroom, and a lower level
