Turnkey Duplex
6 Salem Avenue Newfield, NJ 08344
6 Salem Avenue, Newfield, NJ, 08344
$315,000
Pending
For Sale
$315,000
Pending
Two residential units each with separate electric and gas meters, plus a detached garage for added rental income.
Property Size1,440 SF
Days on Market41
Property Features for 6 Salem Avenue
General Information
- Standard status
- Pending
- Size
- 1,440 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1904
Listing agency
DePalma Realty
(609) 501-4162
Listed by
Michael DePalma · License #1328898
(609) 501-4162
Source
Compass
Added: Jun 11 Updated: Jul 21 at 3:25AM Checked: Jul 21 at 3:25AM
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 DePalma Realty
Investment Insights
Based on property information with market context.
This turnkey duplex offers two separately metered residential units. The first-floor layout includes two bedrooms and one bathroom, while the upstairs unit also provides two bedrooms and one bathroom. Both tenants pay for their own electric and gas through individual meters, supporting straightforward utility management, and each unit is billed an additional $25 per month for water.
The property is located in Newfield, within the Buena Regional School District. One unit is on an annual lease running through the end of the calendar year, while the other operates on a month-to-month arrangement.
A detached garage is included on-site and can be rented separately, providing additional income potential. The landlord’s responsibilities are limited to trash, taxes, and building insurance.
The property is located in Newfield, within the Buena Regional School District. One unit is on an annual lease running through the end of the calendar year, while the other operates on a month-to-month arrangement.
A detached garage is included on-site and can be rented separately, providing additional income potential. The landlord’s responsibilities are limited to trash, taxes, and building insurance.
Key Highlights
- Turnkey duplex in Newfield (MLS Area: Newfield Boro 20813) with 2 units
- Unit layout: 2 beds/1 bath downstairs and 2 beds/1 bath upstairs
- Current rent roll of $2,956/month ($35,472/year)
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 | $28.5k | $19.80 |
| − Vacancy | −$1.5k | −$1.03 |
| EGI | $27.0k | $18.77 |
| − OpEx | −$8.1k | −$5.63 |
| NOI | $18.9k | $13.14 |
1,440 SF · lease $19.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$270.3K
$236.5K – $315.4K
NOI $18,921 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$240.4K
$210.4K – $280.5K
NOI $16,831 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$484.0K
$423.5K – $564.7K
NOI $33,883 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two residential units each with separate electric and gas meters, plus a detached garage for added rental income.
Where is this duplex located?
The property is located at 6 Salem Avenue Newfield, NJ.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Turnkey duplex in Newfield (MLS Area: Newfield Boro 20813) with 2 units; Unit layout: 2 beds/1 bath downstairs and 2 beds/1 bath upstairs; Current rent roll of $2,956/month ($35,472/year)
