Tenant-Occupied
For Sale
$309,999
9 W Pleasant Ave, Pleasantville, NJ 08232
Two leased units offer an established residential income setup near transit, shopping, dining, schools, and parks.
Property Size2,032 SF
Price / SF$152.56
Days on Market21
Property Features for 9 W Pleasant Ave
General Information
Standard status
Active
Size
2,032 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
eXp Realty - Jackson
(732) 484-6214
Listed By:
Opeyemi (Yemi) Ogunbadejo
Source:
Southjerseyshorehomesfinder
Added: Aug 9
Changed: Aug 28
Last Checked: Aug 28 at 1:13PM
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 eXp Realty - Jackson
Investment Insights
Based on property information with market context.
This 2,032-square-foot duplex, constructed in 1900, contains two separate residential units. The first includes two bedrooms and one full bathroom, while the second provides three bedrooms and one full bathroom. Both units are occupied, including one leased to a Section 8 tenant.
The property is located in Pleasantville, with public transportation, shopping, restaurants, schools, parks, and other everyday amenities described as nearby. Its two-unit configuration and existing occupancy provide a straightforward multifamily property profile.
The property is located in Pleasantville, with public transportation, shopping, restaurants, schools, parks, and other everyday amenities described as nearby. Its two-unit configuration and existing occupancy provide a straightforward multifamily property profile.
Key Highlights
- 2,032‑square‑foot duplex built in 1900
- Two occupied residential units
- Unit 1: 2 bedrooms and 1 full bathroom
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
$23,141
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
7.46%
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%
$462,820
$462.8K
Cap Rate 7%
$330,586
$330.6K
Cap Rate 9%
$257,122
$257.1K
Market Conditions
NOI Build-Up for 2,032 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
$35.4K $17.40/SF
− Vacancy
−$2.3K −$1.13/SF
EGI
$33.1K $16.27/SF
− OpEx
−$9.9K −$4.88/SF
NOI
$23.1K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /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%
$462,820
Cap Rate 7%
$330,586
Cap Rate 9%
$257,122
Alternative Uses
Best Use
Multifamily LT 5
$330.6K
$289.3K – $385.7K
NOI $23,141 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$290.6K
$254.3K – $339.0K
NOI $20,340 @ 7.0% cap · market cap 6.56%
Theoretical Best
Warehouse
$756.7K
$662.1K – $882.8K
NOI $52,969 @ 7.0% cap · market cap 17.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 08232, NJ
19,897
Population
7,136
Households
2.8
Avg Household Size
37
Median Age
11%
College-Educated
73%
High-School Grad
5.9 sq mi
ZIP Area
3,372
Density / Sq Mi
$52,476
Median Household Income
$30,661
Median Earnings
$1,210
Median Rent
$179,900
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 leased units offer an established residential income setup near transit, shopping, dining, schools, and parks.
Where is this duplex located?
The property is located at 9 W Pleasant Ave Pleasantville, NJ.
What is the asking price?
The asking price for this property is $309,999.
What are key features of this property?
This property features: 2,032‑square‑foot duplex built in 1900; Two occupied residential units; Unit 1: 2 bedrooms and 1 full bathroom
