FLORENCE, NJ 08518 Florence, NJ 08518
MULTI_FAMILY - FLORENCE, NJ
Property Features
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Standard status
- Active
- Size
- 1,689 SF
Building Details
- Year built
- 1922
Listing agent Jonathan Benstead License #2296861
Listing office BHHS Fox & Roach Marlton-Voorhees Home Marketing Center NJ (856) 810-5300
Listing date May 18, 2026
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Investment Insights
Based on property information with market context.
The property includes a full basement with storage and washer/dryer access, along with a front porch and rear parking on a large lot. Location is convenient for commuting, with proximity to I-295 and the NJ Turnpike.
Overall, the building provides independent unit functionality, dedicated laundry access in the basement, and on-site parking to support everyday tenant needs.
Key Highlights
- 2‑unit duplex (built 1922) at 1002 W Front Street, Florence, NJ
- Upstairs 2BR/1BA is tenant‑occupied at $1,400/month; downstairs 2BR/1BA is vacant and ready to rent or occupy
- Separate utilities for each unit
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.5k | $21.60 |
| − Vacancy | −$1.9k | −$1.13 |
| EGI | $34.6k | $20.47 |
| − OpEx | −$10.4k | −$6.14 |
| NOI | $24.2k | $14.33 |
