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244 Route 40 E, Newfield, NJ, 08344

5beds
--baths
2,234sqft
$575,000
$257price/sqft
$4,500/moest. monthly cost
$180,000/yrincome needed

About This Home

GREAT INVESTMENT OPPORTUNITY, IN UPPER PITTSGROVE – EXCELLANT INCOME-PRODUCING Duplex, on 3.9 Acres with Route 40 Frontage Well-maintained duplex situated on a spacious 3.9-acre lot with excellent frontage along Route 40 in Upper Pittsgrove. This income-producing property features two residential units plus a separately rented 4-car garage, creating multiple revenue streams. WELL, MAINTAINED! Unit 1 offers 2 bedrooms and 1 full bath and was updated in 2024. Unit 2 features 3 bedrooms and 1 full bath, and BASEMENT and underwent recent upgrades in 2025. Both units are equipped with central air conditioning and ceiling fans in every room for year-round comfort. TENANTS are responsible for their own gas and electric utilities, helping to minimize owner expenses. NEW SEPTIC BEING INSTALLED. The property also includes a detached 4-car garage that is rented separately, providing additional income potential. A new septic system will be installed prior to settlement, offering added value and peace of mind for the new owner. The expansive 3.9-acre parcel features a blacktop parking area and outstanding visibility along Route 40. With its prime location and road frontage, there may be potential to pursue a variance for commercial use (buyer to perform their own due diligence with local zoning authorities). Whether you're looking to expand your investment portfolio, generate strong rental income, or explore future development opportunities, this versatile property offers exceptional potential in a highly visible location.

Getting Around

8
WalkingCar-Dependent
0
TransitVery Limited Transit
27
BikeSomewhat Bikeable

Schools

Construction

Condition

  • Year built: 1999

Materials

  • Foundation: Block
  • Roof: Architectural Shingle,Pitched,Shingle
  • Construction materials: Aluminum Siding,Brick,Brick Front,Vinyl Siding

Notable Dates

  • Major remodel year: 2025

Type & Style

  • Home type: MultiFamily
  • Architectural style: Ranch/Rambler
  • Property subType: Duplex

Interior

Appliances

  • Appliances included: Gas Water Heater

Basement

  • Has basement: Yes
  • Basement: Connecting Stairway

Bedrooms & Bathrooms

  • Bedrooms: 5

Features

  • Dry Wall,Paneled Walls
  • Flooring: Ceramic Tile,Luxury Vinyl,Carpet

Heating & Cooling

  • Heating features: Central,Natural Gas
  • Cooling features: Central Air,Electric

Interior Area

  • Total structure area: 2,234
  • Total interior livable area: 2,234 sqft

Property

Accessibility

  • Accessibility features: 2+ Access Exits

Details

  • Parcel number: 14000050051
  • Zoning: RESIDENTIAL
  • Special condition: Standard
  • Exclusions: Tenants Personal Items

Features

  • Pool features: None

Lot

  • Lot size: 3.90 Acres

Parking

  • Total spaces: 5
  • Parking features: Asphalt,Off Street,Parking Lot
  • Has uncovered spaces: Yes

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Ice Storm
    Ice StormRelatively High
  • Strong Wind
    Strong WindRelatively High
  • Winter Weather
    Winter WeatherRelatively High
  • Drought
    DroughtModerate
  • Hail
    HailModerate
  • Hurricane
    HurricaneModerate
  • Heat Wave
    Heat WaveModerate
  • Tsunami
    TsunamiInsufficient Data

How This Home’s Risks Compare

Ice Storm
Strong Wind
Winter Weather
Drought
Hail
Hurricane
Heat Wave
Tsunami

FEMA Declared Disasters Across New Jersey Counties

Fire
Severe Storm

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $2,907$34,884
Home Insurance *$298$3,576
Property Taxes $1,049$12,588
Electricity $246$2,955
Total$4,500$54,000
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$154,285/yr
40% on housing$135,000/yr
45% on housing$120,000/yr

New Jersey FAIR Plan Programs

New Jersey Insurance Underwriting Association

Covered
WildfireWildfire
HailHail
WindWind
Visit Website →
Current Policies
Residential: 7,029Commercial: 173
Total Premiums$5.54M
Total Exposure$1.19B

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 6.1%
6.1%
0%30.0%
Electricity Growth Rate10-year average: 7.1%
7.1%
0%15.0%
Property Taxes Growth Rate2-year average: 0.8%
0.8%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$257This listing

vs Other Active Listings

Avg $/sqft

ZIP 08344$157
Salem County$171

vs Homes Sold Last Month

Median $/sqft

ZIP 08344$215
Salem County$196

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-08-16Price change$565,000
2026-07-29Price change$575,000
2026-07-19Price change$599,000
2026-07-13Price change$649,000
2026-06-30Price change$659,000
2026-06-21Price change$675,000
2026-06-12Listed for sale$695,000

For Sale by Agent

AgentWarren COLLINS
BrokerageWeichert Realtors-Mullica Hill

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