Duplex with Detached
740 MORGAN AVE, Palmyra, NJ 08065
For Sale
$639,000
Each residence has its own laundry room and separate gas and electric service.
Property Size3,450 SF
Lot Size0.19 Acres
Price / SF$185.22
Days on Market50
Property Features for 740 MORGAN AVE
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Site & Location
Highway Access
Road Access
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Amenities
fireplace
in-unit laundry
Building Details
Year Built
Buildings
Construction
Listing Agency:
Keller Williams Realty Monmouth/Ocean
(732) 942-5280
Listed By:
Rana Husein
(732) 510-8847
Source:
360
Added: Sep 26
Changed: Nov 13
Last Checked: Nov 12 at 7:36AM
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 Realty Monmouth/Ocean
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Investment Insights
Based on property information with market context.
This two-unit residential property dates to 1920 and occupies a 0.19-acre corner lot. One residence has four bedrooms and 4.5 bathrooms; the other has four bedrooms and one full bathroom. A fireplace is located in the main living area, and the unfinished basement provides additional storage space. Each unit has a laundry room with a washer and dryer, its own boiler and hot water heater, and separate gas and electric service. Exterior materials include stone, frame, and vinyl siding.
A detached two-car garage serves the property, with additional on-street parking. Shopping, dining, schools, parks, public transportation, and major highways are nearby.
A detached two-car garage serves the property, with additional on-street parking. Shopping, dining, schools, parks, public transportation, and major highways are nearby.
Key Highlights
- Two residential units: one with 4 bedrooms and 4.5 bathrooms; the other with 4 bedrooms and 1 full bathroom
- Built in 1920 on a 0.19‑acre corner lot
- Separate laundry room, boiler, hot water heater, gas, and electric service for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,441
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$988,820
$988.8K
Cap Rate 7%
$706,300
$706.3K
Cap Rate 9%
$549,344
$549.3K
Market Conditions
NOI Build-Up for 3,450 SF
Gross rent
$74.5K $21.60/SF
− Vacancy
−$3.9K −$1.13/SF
EGI
$70.6K $20.47/SF
− OpEx
−$21.2K −$6.14/SF
NOI
$49.4K $14.33/SF
Area
Burlington County, NJ
Vacancy
5.22%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$988,820
Cap Rate 7%
$706,300
Cap Rate 9%
$549,344
Alternative Uses
Best Use
Multifamily LT 5
$706.3K
$618.0K – $824.0K
NOI $49,441 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$645.5K
$564.8K – $753.1K
NOI $45,187 @ 7.0% cap · market cap 7.07%
Theoretical Best
Retail
$737.0K
$644.9K – $859.9K
NOI $51,591 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Explore this area
Business Placement
Demographics for 08065, NJ
7,438
Population
3,406
Households
2.2
Avg Household Size
42
Median Age
30%
College-Educated
95%
High-School Grad
1.8 sq mi
ZIP Area
4,132
Density / Sq Mi
$85,014
Median Household Income
$51,085
Median Earnings
$1,680
Median Rent
$216,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Burlington County, NJ
Properties on Market for Duplexes in Burlington County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own laundry room and separate gas and electric service.
Where is this duplex located?
The property is located at 740 MORGAN AVE Palmyra, NJ.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Two residential units: one with 4 bedrooms and 4.5 bathrooms; the other with 4 bedrooms and 1 full bathroom; Built in 1920 on a 0.19‑acre corner lot; Separate laundry room, boiler, hot water heater, gas, and electric service for each unit
