This is a great opportunity to own an income producing duplex in the heart of magnolia! This property has been very well taken care of by its current owner. Unit A is a beautiful 1 bed 1 bath that was totally renovated 3 years ago (Landlord receives $1,700 a month). Unit B is a 3 bed 1 bath that also had a few updates within the past 2 years (Landlord receives $2,000 a month). These updates include brand new vinyl plank flooring, new kitchen appliances, and updated fixtures throughout. Both units have just received a brand new water heater. There is an unfinished basement that houses all the mechanicals, but is also used by the tenants for storage. The large wrap around driveway can hold up to 4+ cars as well as an oversized 2 car detached garage out back.
Magnolia is located in New Jersey. Magnolia, New Jersey has a population of 4,310. Magnolia is more family-centric than the surrounding county with 34.21% of the households containing married families with children. The county average for households married with children is 29.33%.
The median household income in Magnolia, New Jersey is $53,938. The median household income for the surrounding county is $65,037 compared to the national median of $57,652. The median age of people living in Magnolia is 36.9 years.
The average high temperature in July is 89.1 degrees, with an average low temperature in January of 22.9 degrees. The average rainfall is approximately 46.5 inches per year, with 1.9 inches of snow per year.