Duplex with New
For Sale
$330,000
916 E Chestnut Ave, Vineland, NJ 08360
Two-unit residential income property with established occupancy and recent mechanical and exterior updates.
Property Size1,904 SF
Price / SF$173.32
Days on Market66
Property Features for 916 E Chestnut Ave
General Information
Standard status
Active
Size
1,904 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1945
Listing Agency:
Keller Williams Realty - Marlton
Listed By:
Michael P Carr · License #234785
(856) 904-3829
Source:
Baltimoreharfordhomesforsale
Added: Aug 24
Changed: Oct 25
Last Checked: Oct 28 at 8:27AM
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 - Marlton
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Investment Insights
Based on property information with market context.
This 1,904-square-foot duplex, built in 1945, has tenants in both units and includes a recently installed roof. The second-floor apartment is equipped with a new central AC unit, while the first-floor lease runs through May 2027.
Positioned well back from E Chestnut Ave, the building offers a residential income configuration with both units occupied. The property is located in Vineland, New Jersey, and combines existing tenancy with recent capital improvements.
Positioned well back from E Chestnut Ave, the building offers a residential income configuration with both units occupied. The property is located in Vineland, New Jersey, and combines existing tenancy with recent capital improvements.
Key Highlights
- 1,904‑square‑foot duplex built in 1945
- Both units are occupied by long‑term tenants
- New roof recently installed
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,761
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$495,220
$495.2K
Cap Rate 7%
$353,729
$353.7K
Cap Rate 9%
$275,122
$275.1K
Market Conditions
NOI Build-Up for 1,904 SF
Gross rent
$37.7K $19.80/SF
− Vacancy
−$2.3K −$1.22/SF
EGI
$35.4K $18.58/SF
− OpEx
−$10.6K −$5.57/SF
NOI
$24.8K $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 Rate 5%
$495,220
Cap Rate 7%
$353,729
Cap Rate 9%
$275,122
Alternative Uses
Best Use
Multifamily LT 5
$353.7K
$309.5K – $412.7K
NOI $24,761 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$325.6K
$284.9K – $379.9K
NOI $22,794 @ 7.0% cap · market cap 6.91%
Theoretical Best
Office A
$2.86M
$2.50M – $3.34M
NOI $200,121 @ 7.0% cap · market cap 60.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
986
Businesses Nearby
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Business Placement
Demographics for 08360, NJ
43,043
Population
16,797
Households
2.6
Avg Household Size
38
Median Age
17%
College-Educated
79%
High-School Grad
44.3 sq mi
ZIP Area
972
Density / Sq Mi
$62,604
Median Household Income
$37,236
Median Earnings
$1,164
Median Rent
$199,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential income property with established occupancy and recent mechanical and exterior updates.
Where is this duplex located?
The property is located at 916 E Chestnut Ave Vineland, NJ.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: 1,904‑square‑foot duplex built in 1945; Both units are occupied by long‑term tenants; New roof recently installed
