Two-Unit Duplex with Front
For Sale
$250,000
520 GILMORE STREET, Vineland, NJ 08360
Two-bedroom units with month-to-month leases, shared yard space, basement utilities, and a large garden area.
Property Size1,395 SF
Price / SF$179.21
Days on Market38
Property Features for 520 GILMORE STREET
General Information
Standard status
Active
Size
1,395 SF
Property subtype
Duplex
Building Details
Year Built
1915
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Prime Realty
(541) 359-5309
Listed By:
Sarah Johnson
(541) 359-5309
Source:
Cummingsrealtors
Added: Jul 15
Changed: Aug 20
Last Checked: Aug 20 at 5:25AM
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
Investment Insights
Based on property information with market context.
Built in 1915, this 1,395-square-foot duplex includes separate upstairs and downstairs units, each with 2 bedrooms and 1 bath. The downstairs unit features a large front porch, vinyl plank and tile flooring, a living room, kitchen, and bathroom with a tub/shower combination. The upstairs unit includes a shower stall. Both units are leased month to month.
The basement houses the HVAC equipment, including a forced air oil and gas heater, along with updated electric and gas hot water heaters. A washer and dryer are also located in the basement. Tenants share the backyard, which includes a large garden area. The property is located at 520 Gilmore Street in Vineland, close to shopping areas, downtown, and the city park.
The basement houses the HVAC equipment, including a forced air oil and gas heater, along with updated electric and gas hot water heaters. A washer and dryer are also located in the basement. Tenants share the backyard, which includes a large garden area. The property is located at 520 Gilmore Street in Vineland, close to shopping areas, downtown, and the city park.
Key Highlights
- 1,395‑square‑foot duplex built in 1915
- Two units, each with 2 bedrooms and 1 bath
- Downstairs unit includes a large front porch and tub/shower combo
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
$18,142
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
7.26%
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%
$362,840
$362.8K
Cap Rate 7%
$259,171
$259.2K
Cap Rate 9%
$201,578
$201.6K
Market Conditions
NOI Build-Up for 1,395 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
$27.6K $19.80/SF
− Vacancy
−$1.7K −$1.22/SF
EGI
$25.9K $18.58/SF
− OpEx
−$7.8K −$5.57/SF
NOI
$18.1K $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 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%
$362,840
Cap Rate 7%
$259,171
Cap Rate 9%
$201,578
Alternative Uses
Best Use
Multifamily LT 5
$259.2K
$226.8K – $302.4K
NOI $18,142 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$238.6K
$208.8K – $278.4K
NOI $16,701 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,622 @ 7.0% cap · market cap 58.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
882
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
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-bedroom units with month-to-month leases, shared yard space, basement utilities, and a large garden area.
Where is this duplex located?
The property is located at 520 GILMORE STREET Vineland, NJ.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 1,395‑square‑foot duplex built in 1915; Two units, each with 2 bedrooms and 1 bath; Downstairs unit includes a large front porch and tub/shower combo
