Two-Unit
For Sale
$255,000
908 N HIGH ST, Millville, NJ 08332
Both residences offer a two-bedroom, one-bathroom layout and are currently occupied by tenants.
Property Size1,701 SF
Price / SF$149.91
Days on Market46
Property Features for 908 N HIGH ST
General Information
Standard status
Active
Size
1,701 SF
Property subtype
Multi-Family
Net Operating Income
$22,439
Property Condition
Severity
Repairs Needed
Evidence
routine upkeep
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
Keller Williams - Main Street
(856) 534-4238
Listed By:
Carol Terrell · License #0227464
(856) 534-4238
Source:
Imanirealtors
Added: Jul 17
Changed: Aug 29
Last Checked: Aug 30 at 5:24PM
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 - Main Street
Investment Insights
Based on property information with market context.
This 1,701-square-foot duplex contains two residential units, each arranged with two bedrooms and one bathroom. Tenants are in place, and the property is being offered in its current as-is condition. Township certificates of occupancy and required housing documentation are reported as current where applicable.
The property is located at 908 N High St in Millville, New Jersey, near local parks, dams, bridges, eateries, and entertainment. It is being sold as part of a larger New Jersey portfolio, with buyers responsible for completing their own due diligence.
The property is located at 908 N High St in Millville, New Jersey, near local parks, dams, bridges, eateries, and entertainment. It is being sold as part of a larger New Jersey portfolio, with buyers responsible for completing their own due diligence.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 bathroom
- 1,701‑square‑foot duplex at 908 N HIGH ST, Millville, NJ 08332
- Tenants currently occupy both units
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
$22,121
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
8.67%
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%
$442,420
$442.4K
Cap Rate 7%
$316,014
$316.0K
Cap Rate 9%
$245,789
$245.8K
Market Conditions
NOI Build-Up for 1,701 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
$33.7K $19.80/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$31.6K $18.58/SF
− OpEx
−$9.5K −$5.57/SF
NOI
$22.1K $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%
$442,420
Cap Rate 7%
$316,014
Cap Rate 9%
$245,789
Alternative Uses
Best Use
Multifamily LT 5
$316.0K
$276.5K – $368.7K
NOI $22,121 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$290.9K
$254.6K – $339.4K
NOI $20,364 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$2.55M
$2.23M – $2.98M
NOI $178,785 @ 7.0% cap · market cap 70.11%
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
694
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Both residences offer a two-bedroom, one-bathroom layout and are currently occupied by tenants.
Where is this duplex located?
The property is located at 908 N HIGH ST Millville, NJ.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 bathroom; 1,701‑square‑foot duplex at 908 N HIGH ST, Millville, NJ 08332; Tenants currently occupy both units
