Updated Side-by-Side
For Sale
$299,999
802 E VINE STREET E, Millville, NJ 08332
Two units offer distinct bedroom layouts, with a basement providing additional space on the one-bedroom side.
Property Size1,616 SF
Price / SF$185.64
Days on Market11
Property Features for 802 E VINE STREET E
General Information
Standard status
Active
Size
1,616 SF
Property subtype
Duplex
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1950
Buildings
1
Listing Agency:
DePalma Realty
(856) 524-4455
Listed By:
Lenmarve McIntosh · License #2190318
(856) 524-4455
Source:
Cummingsrealtors
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 30 at 5:33PM
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 side-by-side duplex at 802 E Vine Street includes two separately configured units. The first offers 1 bedroom and 1 full bath, along with a basement that adds substantial room for storage, office use, recreation, or hobbies. The second unit contains 2 bedrooms and 1 full bath.
Both units have been updated, providing refreshed interiors across the property. One unit is expected to be available, creating the possibility of occupying one side while receiving rental income from the other. The property was built in 1950 and is located in Millville, New Jersey.
Both units have been updated, providing refreshed interiors across the property. One unit is expected to be available, creating the possibility of occupying one side while receiving rental income from the other. The property was built in 1950 and is located in Millville, New Jersey.
Key Highlights
- Side‑by‑side duplex with 2 separate units
- Unit mix includes 1 bedroom/1 bath and 2 bedrooms/1 bath
- Basement on the 1‑bedroom side provides additional usable space
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
$21,016
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
7.01%
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%
$420,320
$420.3K
Cap Rate 7%
$300,229
$300.2K
Cap Rate 9%
$233,511
$233.5K
Market Conditions
NOI Build-Up for 1,616 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
$32.0K $19.80/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$30.0K $18.58/SF
− OpEx
−$9.0K −$5.57/SF
NOI
$21.0K $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%
$420,320
Cap Rate 7%
$300,229
Cap Rate 9%
$233,511
Alternative Uses
Best Use
Multifamily LT 5
$300.2K
$262.7K – $350.3K
NOI $21,016 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$276.4K
$241.8K – $322.4K
NOI $19,346 @ 7.0% cap · market cap 6.45%
Theoretical Best
Office A
$2.43M
$2.12M – $2.83M
NOI $169,851 @ 7.0% cap · market cap 56.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
697
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
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 units offer distinct bedroom layouts, with a basement providing additional space on the one-bedroom side.
Where is this duplex located?
The property is located at 802 E VINE STREET E Millville, NJ.
What is the asking price?
The asking price for this property is $299,999.
What are key features of this property?
This property features: Side‑by‑side duplex with 2 separate units; Unit mix includes 1 bedroom/1 bath and 2 bedrooms/1 bath; Basement on the 1‑bedroom side provides additional usable space
