Two-Unit Duplex Investment
513-515 East Pine Street Millville, NJ 08332
513-515 East Pine Street, Millville, NJ, 08332
$375,000
For Sale
$375,000
Two-unit duplex with two bedrooms and one bathroom per unit, sold as-is with tenants in place generating rental income.
Property Size2,578 SF
Price / SF$145.46
Days on Market28
Property Features for 513-515 East Pine Street
General Information
- Standard status
- Active
- Size
- 2,578 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1927
Listing agency
Keller Williams - Main Street
(856) 534-4238
Listed by
Carol Terrell · License #0227464
(856) 534-4238
Source
Compass
Added: Jun 25 Updated: Jul 21 at 4:34PM Checked: Jul 21 at 4:34PM
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 - Main Street
Investment Insights
Based on property information with market context.
This two-unit duplex features two bedrooms and one bathroom in each unit. The property is currently tenant-occupied and generating rental income, and it is being sold as-is with routine upkeep. Each unit is described as having up-to-date TWP COs and housing where necessary.
The property is located in Millville within Cumberland County, in the Millville City MLS area (20610). Transportation access includes a bus stop less than 1 mile away. The listing notes the area is convenient to parks, dams, bridges, eateries, and entertainment.
The seller indicates the duplex produces an annual NOI of approximately $42,348.84. This property is offered as part of a larger portfolio with multiple locations throughout New Jersey, and buyers may be eligible for a discount when purchasing more than one property or the portfolio as a package deal. The seller would like the buyer to use the seller’s title company and advises buyers to complete their own due diligence prior to purchase.
The property is located in Millville within Cumberland County, in the Millville City MLS area (20610). Transportation access includes a bus stop less than 1 mile away. The listing notes the area is convenient to parks, dams, bridges, eateries, and entertainment.
The seller indicates the duplex produces an annual NOI of approximately $42,348.84. This property is offered as part of a larger portfolio with multiple locations throughout New Jersey, and buyers may be eligible for a discount when purchasing more than one property or the portfolio as a package deal. The seller would like the buyer to use the seller’s title company and advises buyers to complete their own due diligence prior to purchase.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit
- Tenants already in place, generating rental income
- Annual NOI approximately $42,348.84
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 | $51.0k | $19.80 |
| − Vacancy | −$3.1k | −$1.22 |
| EGI | $47.9k | $18.58 |
| − OpEx | −$14.4k | −$5.57 |
| NOI | $33.5k | $13.00 |
2,578 SF · lease $19.80/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$478.9K
$419.1K – $558.8K
NOI $33,526 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$440.9K
$385.8K – $514.4K
NOI $30,863 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$3.87M
$3.39M – $4.52M
NOI $270,962 @ 7.0% cap · market cap 72.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two-unit duplex with two bedrooms and one bathroom per unit, sold as-is with tenants in place generating rental income.
Where is this duplex located?
The property is located at 513-515 East Pine Street Millville, NJ.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom in each unit; Tenants already in place, generating rental income; Annual NOI approximately $42,348.84
