As they arrived on the street, an officer saw a person inside the home and heard a gunshot.
Yip apparently called 911 at the same time; county dispatch received a phone call from the residence from a person stating he had killed his wife and was going to kill himself, the Prosecutor's Office said.
Police shut down nearby streets for several hours as they responded to the scene. Magnolia police requested a SWAT team by shortly before 8, and Gloucester Township's responded.
One neighbor, who asked not to be identified, said she saw authorities attempting to coax Yip out of the house; the neighbor was told about 8:30 p.m. to go back inside her home.
"Henry, come out with your hands up, we just want to talk to you," the neighbor recalled police as saying. Over and over, she said, they called out his name.
Police closed off East Washington Avenue and Cumberland Avenue while responding to the scene.
Shortly after 11 p.m., authorities removed two bodies from the home.
Inquirer staff writer Andrew Seidman contributed to this article.