Renovated Duplex on Corner
For Sale
$389,000
Pending
640 Bem Street, Riverside, NJ 08075
Two updated residences feature separate utilities, laundry areas, and newer HVAC systems.
Property Size1,800 SF
Days on Market209
Property Features for 640 Bem Street
General Information
Standard status
Pending
Size
1,800 SF
Total Parking Spaces
8
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,878
Amenities
separate laundry
fully fenced yard
large shed
No
Built-In Microwave, Built-In Range, Dryer, Oven/Range - Gas, Refrigerator, Washer, Stainless Steel Appliances, Water Heater - High-Efficiency
Bathroom - Stall Shower, Bathroom - Walk-In Shower, Ceiling Fan(s), Combination Dining/Living, Entry Level Bedroom, Kitchen - Galley, Primary Bath(s), Recessed Lighting, Wood Floors
Carbon Monoxide Detector(s), Smoke Detector
No Pool
Above Grade
Exterior Lighting, Flood Lights, Secure Storage, Street Lights
Porch(es)
Building Details
Year Built
1960
Buildings
1
Listing Agency:
Weichert Realtors - Moorestown
(609) 923-0606
Listed By:
Susan Nece · License #1325587
(609) 923-0606
Source:
Compass
Added: Feb 2
Changed: Aug 29
Last Checked: Aug 29 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 Weichert Realtors - Moorestown
Investment Insights
Based on property information with market context.
This 1,800 SF duplex contains two renovated residences within a 1960-built property. Each unit has its own utilities and laundry area, while newer hot water heaters, HVAC systems, electrical upgrades, interior finishes, and flooring support the updated configuration. Interior features include galley kitchens, stainless steel appliances, recessed lighting, wood floors, and shower-equipped bathrooms.
The property occupies an oversized corner lot in Riverside, NJ, with a concrete driveway, fully fenced yard, large shed, exterior lighting, and a maintenance-free exterior. Sewer replacement was completed in 2021. A commuter rail station and bus stop are each less than 1 mile away, and the property is served by Riverside Township Public Schools.
The property occupies an oversized corner lot in Riverside, NJ, with a concrete driveway, fully fenced yard, large shed, exterior lighting, and a maintenance-free exterior. Sewer replacement was completed in 2021. A commuter rail station and bus stop are each less than 1 mile away, and the property is served by Riverside Township Public Schools.
Key Highlights
- 1,800 SF duplex with 2 renovated units
- Sewer replaced in 2021
- Separate utilities and laundry for each unit
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
$30,125
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
7.74%
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%
$602,500
$602.5K
Cap Rate 7%
$430,357
$430.4K
Cap Rate 9%
$334,722
$334.7K
Market Conditions
NOI Build-Up for 1,800 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
$46.0K $25.56/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$43.0K $23.91/SF
− OpEx
−$12.9K −$7.17/SF
NOI
$30.1K $16.74/SF
Area
Paterson, NJ
Vacancy
6.46%
Lease Rate
$25.56 /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%
$602,500
Cap Rate 7%
$430,357
Cap Rate 9%
$334,722
Alternative Uses
Best Use
Multifamily LT 5
$430.4K
$376.6K – $502.1K
NOI $30,125 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$395.4K
$346.0K – $461.3K
NOI $27,680 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$470.0K
$411.3K – $548.4K
NOI $32,901 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 08075, NJ
30,327
Population
12,092
Households
2.5
Avg Household Size
39
Median Age
38%
College-Educated
92%
High-School Grad
9.9 sq mi
ZIP Area
3,063
Density / Sq Mi
$94,576
Median Household Income
$47,979
Median Earnings
$1,427
Median Rent
$288,200
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 updated residences feature separate utilities, laundry areas, and newer HVAC systems.
Where is this duplex located?
The property is located at 640 Bem Street Riverside, NJ.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 1,800 SF duplex with 2 renovated units; Sewer replaced in 2021; Separate utilities and laundry for each unit
