517 North 2nd Street

Millville, NJ 08332

$325,000
Price
5
Beds
4
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Instant cash flow! 4 units. This attached quadruplex is a rare find in Millville that combines the high gross rent revenue of a 4-unit multifamily property with the low taxes of an attached home. MONTHLY Gross rent is $3,875.00 per month and YEARLY Taxes are $3,200.00. Property is currently 100% occupied. There are 3 one bedroom, one bathroom units and 1 two bedroom, one bathroom unit. Bought in 2021, each of the units has been renovated since. All units are electric and have separate meters. Owner...Instant cash flow! 4 units. This attached quadruplex is a rare find in Millville that combines the high gross rent revenue of a 4-unit multifamily property with the low taxes of an attached home. MONTHLY Gross rent is $3,875.00 per month and YEARLY Taxes are $3,200.00. Property is currently 100% occupied. There are 3 one bedroom, one bathroom units and 1 two bedroom, one bathroom unit. Bought in 2021, each of the units has been renovated since. All units are electric and have separate meters. Owner pays water/sewer/trash, RE taxes, and insurance. Pictured are two of the units -- other two units in similar condition. Add this cashflowing property to your portfolio or start your journey to long term wealth today!
  1. Listed by Michael DePalma • DePalma Realty
    P: (609)-501-4162 michael.depalma4@gmail.com

Property Details for 517 North 2nd Street

Tax ID Number
10-00359-00035
Ownership
Fee Simple
Structure Type
Twin/Semi-Detached
Style
Other
Waterfront
No
Garage
No
Municipality
MILLVILLE CITY
Central Air
No
LISTING UPDATED: 09/28/2024 09:06 AM

Property Details for 517 North 2nd Street

StatusActive
MLS #NJCB2020396
Days on Market68
Taxes$3,195 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1920
Lot Size0.08 AC / 3,302 SF
CountyCumberland County NJ

Building Information for 517 North 2nd Street

Stories-Residences4Year Built1920Building Size-Lot Size0.08 AC / 3,302 SF

Property Information for 517 North 2nd Street

Location
Location
  • School District Name: MILLVILLE AREA
  • School District County ID: 121147425059
  • SchoolDistrictSource: Listing Agent
  • County: CUMBERLAND
  • MLS Area: Millville City (20610)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2023
  • Tax Assessed Value: $82,100
  • Year Assessed: 2023
  • County Tax: $0
  • Improvement Assessed Value: $68,600
  • City Town Tax: $0
  • Land Assessed Value: $13,500
  • Clean Green Assessed: No
  • Land Use Code: 0
  • Zoning: RES
  • Tax Lot: 00035
  • School Tax: $0
  • Automatically Update Tax Values Y/N: Yes
Lease Information
Lease Information
  • Owner Pays: Sewer, Taxes - Real Estate, Trash Collection, Water, Insurance
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 3
  • Two Bedroom Units Count: 1
  • Three Bedroom Units Count: 0
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 3
  • Units Leased Count: 4
  • Number Of Units Vacant: 0
  • Number Of Units Month To Month: 1
Multi Family
Unit 1
  • Type: Unit 1
  • Unit Type Occupied YN: Yes
  • Unit Type Lease Type: Yearly
  • Beds Total: 1
  • Full Baths Count: 1
Unit 2
  • Type: Unit 2
  • Unit Type Occupied YN: Yes
  • Unit Type Lease Type: Month to Month
  • Beds Total: 1
  • Full Baths Count: 1
Unit 3
  • Type: Unit 3
  • Unit Type Occupied YN: Yes
  • Unit Type Lease Type: Yearly
  • Beds Total: 2
  • Full Baths Count: 1
Unit 4
  • Type: Unit 4
  • Unit Type Occupied YN: Yes
  • Unit Type Lease Type: Yearly
  • Beds Total: 1
  • Full Baths Count: 1
Financial Information
Expenses
  • Operating Expense Includes: Insurance, Trash
  • Trash Expense: $960
Financial Information
  • Gross Income: $46,500
  • Gross Scheduled Income: $46,500
  • Net Operating Income: $37,758
  • Annual Rental Income: $46,500
  • Income Includes: Apartment Rentals
  • Cap Rate: 11.61
Building Info
Building Info
  • Building Units Total: 4
  • Total Finished SQFT: .00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 20.00 x 165.00
  • Lot Dimensions Source: Assessor
  • Parcel ID: 3135452
Parking
Parking
  • Type Of Parking: On Street
Interior Features
Interior Features
  • Fireplace: No
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: Window Unit(s)
  • Cooling Fuel: Electric
  • Heating Type: Wall Unit
  • Heating Fuel: Electric
  • Hot Water: Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Sewer

Property History for 517 North 2nd Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 517 North 2nd Street

Taxable ValueLand$13,500Additions$68,600Total$82,100
Tax Record2023$3,195 ($266 / month)
Home Facts
Baths4Total Finished SqFt1,368 SqFtAbove Grade Finished SqFt1,368 SqFtStories3Lot Size3,302 SqFtStyleSingle Family ResidenceYear Built1920CountyCUMBERLANDAPN10 00359-0000-00035

Schools near 517 North 2nd Street

This home is within Millville Board Of Education School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Silver Run School
PublicK to 5

Lakeside Middle School
Public6 to 8

Millville Senior High School
Public9 to 12

Memorial High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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517 North 2nd Street is a multi-family home for sale in Millville, NJ 08332. This property was listed for sale on September 17, 2024 by DePalma Realty, it's currently listed at $325,000. It has been on the market for a total of 68 days and was last sold on December 29, 2021. This listing's school district is Millville Board Of Education School District. Nearby schools include Silver Run School, Lakeside Middle School and Millville Senior High School. 517 North 2nd Street is a 5-bed, 4-bath, multi-family home built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of DePalma Realty

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.