NOT LISTED FOR SALE

297 Pearl St Salem, NJ 08079

Estimated Value: $195,405 - $219,000

Studio
-- Bath
2,444 Sq Ft
$86/Sq Ft Est. Value

Last Sold October 09, 2025

Last sale price $205,000 $84 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $1,423/month

89 Days on Market

Highlights

  • Traditional Architecture
  • Wood Flooring
  • Back Up Gas Heat Pump System

About This Home

As of October 2025

Income-Producing Duplex in Salem, NJ!
Great investment opportunity! This fully occupied duplex in Salem, NJ, offers steady rental income with long-term tenants already in place. The property features one 3-bedroom, 1-bathroom unit downstairs and one 2-bedroom, 1-bathroom unit upstairs, providing versatility and strong rental potential. Both units are well-maintained, offering comfortable living spaces for tenants. This property is ideal for investors looking to expand their portfolio with a reliable income-producing asset.

Last Agent to Sell the Property

Joe Polidoro

(856) 388-2160 camilo.concepcion@compass.com Compass New Jersey, LLC - Haddon Township License #2442570 Listed on: 03/05/2025

Compass New Jersey, LLC - Haddon Township

Last Buyer's Agent

Natalie Tyson

(844) 837-5274 bob.kalatschinow@teslarealtygroup.com Tesla Realty Group LLC License #9332472

Tesla Realty Group LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,037

Year Built

  • Built in 1910

Lot Details

  • 8,616 Sq Ft Lot
  • Lot Dimensions are 73.00 x 118.00

Home Design

  • 2,444 Sq Ft Home
  • Duplex
  • Traditional Architecture
  • Block Foundation
  • Frame Construction

Flooring

  • Wood
  • Carpet

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 3 Parking Spaces
  • 3 Driveway Spaces
  • On-Street Parking

Utilities

  • Window Unit Cooling System
  • Back Up Gas Heat Pump System
  • 100 Amp Service
  • Electric Water Heater

Community Details

  • 2 Units

Listing and Financial Details

  • Tax Lot 00012
  • Assessor Parcel Number 13-00024-00012

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,037

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Duplex
  • Structure Type: Twin/Semi-Detached
  • Architectural Style: Traditional
  • Ownership: Fee Simple
  • Exclusions: Tenants Personal Property
  • Inclusions: All existing appliances
  • New Construction: No
  • Year Built: 1910
  • Automatically Close On Close Date: No
  • Special Features: None

Interior Features

  • Interior Amenities: Wood Floors, Carpet
  • Fireplace: No
  • Foundation Details: Block
  • Total Sq Ft: 2444
  • Living Area Sq Ft: 2444
  • Price Per Sq Ft: 81.83
  • Above Grade Finished Sq Ft: 2444
  • Above Grade Finished Area Units: Square Feet

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Frame
  • Spa: No
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Total Garage And Parking Spaces: 3
  • Type Of Parking: On Street, Driveway
  • Number of Spaces in Driveway: 3

Utilities

  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Cooling Type: Window Unit(s)
  • Electric Service: 100 Amp Service, Circuit Breakers
  • Heating Fuel: Natural Gas
  • Heating Type: Heat Pump - Gas Backup
  • Heating: Yes
  • Hot Water: Electric
  • Security: Carbon Monoxide Detector(s), Smoke Detector
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Schools

  • School District Source: Listing Agent

Lot Info

  • Lot Size Acres: 0.20
  • Lot Dimensions: 73.00 x 118.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 8616.00
  • Zoning: RES

Rental Info

  • Units Leased Count: 2
  • Vacation Rental: No

Tax Info

  • Tax Annual Amount: 4037.00
  • Assessor Parcel Number: 13-00024-00012
  • Tax Lot: 00012
  • County Tax Payment Frequency: Annually
  • Tax Year: 2024

MLS Schools

  • School District Name: SALEM CITY SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 5, 2025
Closed on
Sep 24, 2025
Sold by
Delaware Valley Opportunity Fund Llc
Bought by
Elmore Sandra
Seller's Agent
Joe Polidoro
Compass New Jersey, LLC - Haddon Township
Buyer's Agent
Natalie Tyson
Tesla Realty Group LLC
List Price
$200,000
Sold Price
$205,000
Premium/Discount to List
$5,000
2.5%
Views
17
Current Estimated Value
$209,101

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$4,101
Avg. Annual Appreciation
6.19%
Original Mortgage
$201,286
Outstanding Balance
$200,743
Interest Rate
6.56%
Mortgage Type
FHA
Estimated Equity
$8,358

Purchase Details

Closed on
Feb 28, 2025
Sold by
Vitullo Daniel D and Vitullo Katherine T
Bought by
Delaware Valley Opportunity Fund Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$136,263
Interest Rate
7.04%
Mortgage Type
Construction

Purchase Details

Closed on
Mar 9, 2023
Sold by
Act Management Llc
Bought by
Vitullo Daniel D and Vitullo Katherine T

Purchase Details

Closed on
Oct 28, 2014
Sold by
Lippincott J Gill and Lippincott Sylvla B
Bought by
Act Management Llc
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Elmore Sandra $212,500 South Jersey Settlement
Delaware Valley Opportunity Fund Llc $130,000 None Listed On Document
Delaware Valley Opportunity Fund Llc $130,000 None Listed On Document
Vitullo Daniel D -- --
Vitullo Daniel D -- None Listed On Document
Act Management Llc $40,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Elmore Sandra $201,286
Previous Owner Delaware Valley Opportunity Fund Llc $136,263
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/09/2025 10/09/25 Sold $205,000 +2.5% $84 / Sq Ft
06/02/2025 06/02/25 Pending -- -- --
05/05/2025 05/05/25 Off Market $200,000 -- --
03/20/2025 03/20/25 Pending -- -- --
03/05/2025 03/05/25 For Sale $200,000 -- $82 / Sq Ft
Source: Bright MLS

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $4,037 $49,100 $10,700 $38,400
2024 $3,860 $49,100 $10,700 $38,400
2023 $3,860 $49,100 $10,700 $38,400
2022 $3,691 $49,100 $10,700 $38,400
2021 $2,523 $49,100 $10,700 $38,400
2020 $3,492 $49,100 $10,700 $38,400
2019 $3,471 $49,100 $10,700 $38,400
2018 $3,395 $49,100 $10,700 $38,400
2017 $3,354 $49,100 $10,700 $38,400
2016 $3,838 $98,000 $15,400 $82,600
2015 $3,789 $98,000 $15,400 $82,600
2014 $3,769 $98,000 $15,400 $82,600
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: NJSA2014016

Bright MLS

APN: 13-00024-0000-00012