Remodeled Duplex with Leased
For Sale
$325,000
Pending
509 Laurel Street, Beverly, NJ 08010
Two occupied units feature updated kitchens, bathrooms, flooring, paint, and roofing.
Property Size1,940 SF
Days on Market215
Property Features for 509 Laurel Street
General Information
Standard status
Pending
Size
1,940 SF
Total Parking Spaces
1
Property subtype
Multi-Family / Fee Simple
Zoning
DUPLEX
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,820
Amenities
basement
deck
bonus shed
bonus attic
No
2+ Access Exits
No Pool
Above Grade, Below Grade
Building Details
Year Built
1935
Tenancy
Multi
Listing Agency:
RE/MAX Preferred - Sewell
(609) 760-8928
Listed By:
Emily W Stewart · License #0896117
(609) 760-8928
Source:
Compass
Added: Jan 27
Changed: Aug 29
Last Checked: Aug 29 at 7:10PM
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 RE/MAX Preferred - Sewell
Investment Insights
Based on property information with market context.
This remodeled duplex contains two occupied residential units with recent improvements throughout, including new kitchens, bathrooms, flooring, interior paint, and a new roof. The property offers a basement, rear deck, bonus shed, and an attic serving the upper unit. Total property size is 1,940 square feet, and the structure dates to 1935.
Both tenants are in place under lease terms that renew or end in July 2026 for the upper unit and August 2026 for the first-floor unit. The duplex is located in Beverly City, Burlington County, and is designated DUPLEX zoning. The property also includes two or more access exits and both above-grade and below-grade areas.
Both tenants are in place under lease terms that renew or end in July 2026 for the upper unit and August 2026 for the first-floor unit. The duplex is located in Beverly City, Burlington County, and is designated DUPLEX zoning. The property also includes two or more access exits and both above-grade and below-grade areas.
Key Highlights
- Two occupied units with lease terms renewing or ending in July and August 2026
- 1,940‑square‑foot duplex built in 1935
- Recent kitchens, bathrooms, flooring, paint, and roof improvements
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
$27,802
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
8.55%
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%
$556,040
$556.0K
Cap Rate 7%
$397,171
$397.2K
Cap Rate 9%
$308,911
$308.9K
Market Conditions
NOI Build-Up for 1,940 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
$41.9K $21.60/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$39.7K $20.47/SF
− OpEx
−$11.9K −$6.14/SF
NOI
$27.8K $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 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%
$556,040
Cap Rate 7%
$397,171
Cap Rate 9%
$308,911
Alternative Uses
Best Use
Multifamily LT 5
$397.2K
$347.5K – $463.4K
NOI $27,802 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$363.0K
$317.6K – $423.5K
NOI $25,410 @ 7.0% cap · market cap 7.82%
Theoretical Best
Warehouse
$4.06M
$3.55M – $4.73M
NOI $284,023 @ 7.0% cap · market cap 87.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
240
Businesses Nearby
Explore this area
Business Placement
Demographics for 08010, NJ
11,555
Population
4,995
Households
2.3
Avg Household Size
41
Median Age
30%
College-Educated
95%
High-School Grad
3.6 sq mi
ZIP Area
3,210
Density / Sq Mi
$85,285
Median Household Income
$48,077
Median Earnings
$1,472
Median Rent
$227,700
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 occupied units feature updated kitchens, bathrooms, flooring, paint, and roofing.
Where is this duplex located?
The property is located at 509 Laurel Street Beverly, 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 occupied units with lease terms renewing or ending in July and August 2026; 1,940‑square‑foot duplex built in 1935; Recent kitchens, bathrooms, flooring, paint, and roof improvements
