Detached
New
For Sale
$235,000
623 S 2ND STREET, Millville, NJ 08332
One residence is occupied month-to-month, while the first-floor unit is vacant and available for occupancy.
Property Size1,568 SF
Price / SF$149.87
Days on Market5
Property Features for 623 S 2ND STREET
General Information
Standard status
Active
Size
1,568 SF
Total Parking Spaces
4
Property subtype
Duplex
Property Condition
Severity
Repairs Needed
Evidence
some additional cosmetic updates
Additional Details
Multifamily Units
2
Amenities
basement for storage
Building Details
Year Built
1907
Buildings
1
Listing Agency:
Realty One Group Restore - Collegeville
(484) 902-8880
Listed By:
Shawn M Warman · License #1643351
(267) 885-4955
Source:
Cummingsrealtors
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 12:33AM
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 Realty One Group Restore - Collegeville
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Investment Insights
Based on property information with market context.
This detached duplex contains 1,568 square feet and was built in 1907. The second-floor residence has a month-to-month tenant, while the first-floor unit is vacant. Recent work includes replacement of both furnaces, a new water heater, and updates to flooring and bathrooms. A basement provides storage space.
Off-street parking accommodates up to four vehicles, and the property has no HOA. The two-unit layout pairs an occupied upper residence with a vacant first-floor residence.
Off-street parking accommodates up to four vehicles, and the property has no HOA. The two-unit layout pairs an occupied upper residence with a vacant first-floor residence.
Key Highlights
- Detached two‑unit property with 1,568 square feet
- Built in 1907
- Second‑floor residence has a month‑to‑month tenant; first‑floor unit is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,392
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,840
$407.8K
Cap Rate 7%
$291,314
$291.3K
Cap Rate 9%
$226,578
$226.6K
Market Conditions
NOI Build-Up for 1,568 SF
Gross rent
$31.0K $19.80/SF
− Vacancy
−$1.9K −$1.22/SF
EGI
$29.1K $18.58/SF
− OpEx
−$8.7K −$5.57/SF
NOI
$20.4K $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%
$407,840
Cap Rate 7%
$291,314
Cap Rate 9%
$226,578
Alternative Uses
Best Use
Multifamily LT 5
$291.3K
$254.9K – $339.9K
NOI $20,392 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$268.2K
$234.7K – $312.9K
NOI $18,772 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$2.35M
$2.06M – $2.75M
NOI $164,806 @ 7.0% cap · market cap 70.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Explore this area
Business Placement
Demographics for 08332, NJ
35,396
Population
15,063
Households
2.3
Avg Household Size
40
Median Age
18%
College-Educated
86%
High-School Grad
104.5 sq mi
ZIP Area
339
Density / Sq Mi
$65,825
Median Household Income
$39,595
Median Earnings
$1,223
Median Rent
$195,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied month-to-month, while the first-floor unit is vacant and available for occupancy.
Where is this duplex located?
The property is located at 623 S 2ND STREET Millville, NJ.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Detached two‑unit property with 1,568 square feet; Built in 1907; Second‑floor residence has a month‑to‑month tenant; first‑floor unit is vacant
